NYC Blogs
While Americans are dealing with mortgage rates in the mid-6% range, their U.K. counterparts are being warned that they will be burdened with 5%-plus fixed-rate deals in the coming weeks.
Phil Hall
Publish Date: 26-May-2023
In the U.K., the swap rates paid by lenders is the determining factor for the cost of fixed-rate mortgages. And unlike the U.S., mortgage borrowers in the U.K. are required to renew mortgages on a cyclical basis. The Guardian noted that a household with an expiring mortgage worth roughly $185,000 carrying a 2.99% fixed-rate mortgage would have to find an extra $215 a month or $2,588 a year if the rate becomes 5.19%. This would occur at a time when rising inflation has forced the increase on the cost of U.K. goods and services.
Trends and perspectives for buyers and investors
More apartments sold in the third quarter than at any other time in more than 30 years, as the New York market continues its recovery.
Md Khalid Hossain
3rd March, 2023
More apartments sold in the third quarter than at any other time in more than 30 years, as the New York market continues its recovery.
Md Khalid Hossain
3rd March, 2023
More apartments sold in the third quarter than at any other time in more than 30 years, as the New York market continues its recovery.
Md Khalid Hossain
3rd March, 2023
