There are quite a few good news stories around this week and personally speaking I can’t quite remember a busier, in enquiry terms, first week of January at all. Some of the brokers I have spoken to have echoed this so let’s hope it keeps up and translates into business for us all.
Swaps have actually meandered down since last week with LIBOR holding firm.
Three-month LIBOR is unchanged at 1.09%.
1-year money is down 0.075% at 1.075%
2-year money is down 0.06% at 1.31%
3-year money is down 0.06% at 1.35%
5-year money is down 0.03% at 1.585%
In my mind 2012 was always meant to be the year when everything began to improve, after all we have the Olympics and the feel good factor from that together with a good Euro Championships would surely propel us on to bigger and better things? However, it looks as if I may have been a little lost in dreamland with that, although to be honest no-one really foresaw the issues from Credit Crunch 1 mutate into the mega-storm that threatens to break up the Euro itself.
Also posted in 2012, Bank Base Rate, Best Mortgage Rates, Large Mortgage Loans, Mortgage Brokers in London, Mortgage Finance, Property Market, The Economy | Tagged 2012, Bank of England Base Rate, Best Mortgage Rates, Coreco, Economy, Large Mortgage Loans, Mortgage Broker in London, Property Market, Remortgage, The Economy |
As I have started a weekly column for Mortgage Strategy, taking over the prestigeous Market Watch slot, I thought I would share this here as well as my standard posts.
It is hopefully a good insight into the Mortgage Industry, a bit of economics, latest lender news and rate updates, plus general musings.
Anyway, enjoy and as ever feedback is welcome.
So here we all are in 2012 and welcome to my inaugural Market Watch column. Stepping into the rather large shoes of Mr Cornell is more than a little daunting and I will do my best to honour the spirit of the column whilst offering my own strange spin on events and try to modernise a tad.
Similar to it’s well known namesake, the MMR is designed to immunise against the possible ill-effects of another boom-time credit party, protecting us all against the ravages of excess and poor lending practices that brought the UK economy to its knees.
What the FSA was hoping, was that this could be achieved with as little side-effects as possible, especially given the state of the housing market in general at present.
Also posted in Credit Crunch, FSA, First Time Buyers, Independent Mortgage Advice, Large Mortgage Loans, MMR, Mortgage Advice, Mortgage Blog, Mortgage Brokers in London, Mortgage Market Review, Property Market, The Economy | Tagged Coreco, Economy, FSA, Large Mortgage Loans, MMR, Mortgage Market, Mortgage Market Review, The Economy |
Ever since the issues first engulfed our industry 4 years ago I seem to be fed up of saying, “wow, that was an extraordinary week” and last week was no exception.
It began with some positives from the previous week; UK growth was confirmed at 0.5% in the 3rd quarter of this year and the Government launched its much anticipated Housing Strategy, pulling together a range of announcements with a couple of new ones to try to stimulate growth and return some confidence back to the house building industry.
Also posted in European Union, First Time Buyers, House Prices, Housing Strategy, Independent Mortgage Advice, Large Mortgage Loans, Mortgage Blog, Mortgage Brokers in London, Regulation, The Economy | Tagged Best Mortgage Rates, Coreco, Economy, First Time Buyers, Housing Market, Housing Strategy, Large Mortgage Loans, Mortgage Broker in London, Property Market, The Economy |
Andrew Montlake, Director and Spokesperson for Coreco, gives his honest and forthright views on the mortgage market, economy and all things property related. Monty was voted "Mortgage Personality of the year 2008" and is the current holder of the British Mortgage Awards "Best Press Spokesperson" title. Expect expert analysis, delivered in a down to earth style with a side helping of exuberance.
