There I was pondering what to write this week and all of a sudden we seem to have been inundated with some stat-tastic facts and figures from the Office of National Statistics and the good ol’ CML, as well as a controversial policy change from a major lender.
But first the headlines, Swaps have risen slightly, apart from 1 year money, whilst LIBOR has remained steady.
Three-month LIBOR is still at 1.08%.
1-year money is down 0.01% at 0.965%
2-year money is up 0.01% at 1.24%
3-year money is up 0.04% at 1.31%
5-year money is up 0.09% at 1.615%
Posted in Best Fixed Rates, Best Mortgage Rates, Coreco, Interest Only Mortgages, LIBOR Rates, Mortgage Blog, Mortgage Brokers in London, Mortgage Funding, Mortgage Lenders, Mortgage Market, Mortgage Statistics, Mortgages, Property Market, SWAP Rates, The Economy | Also tagged CML Figures, Coreco, Economy, Interest Only Mortgages, Large Mortgage Loans, LIBOR Rates, Mortgage Broker in London, Mortgage Rates, SWAP Rates, The Economy |
I have been reading with interest the announcement from Facebook of their impending floatation and the figures that have subsequently been released. Not bad making a profit of $1 billion in its 8th year of existence.
Following on from one of my main themes, one of Mark Zuckerbergs’ quotes struck a particular chord, “a more open world will also encourage businesses to engage with their customers directly and authentically.”
In our own financial world, Swaps have fallen again this week whilst LIBOR has eased off a touch which will hopefully mean that lenders will indulge in some rate cutting with no notice next week! I know, wishful thinking.
Posted in Best Mortgage Rates, Coreco, Mortgage Advice, Mortgage Blogs, The Economy | Also tagged Bank of England Base Rate, Coreco, Economy, Facebook, Large Mortgage Loans, Mark Zuckerberg, Mortgage Broker in London, The Economy |
This week we find ourselves in the shadow of, rather unsurprisingly, GDP figures that show the economy has shrunk by 0.2% in the last quarter and, predictably, another debacle over the Greek issue.
Whilst we may be heading for our first double-dip recession since 1975, there are enough voices out there who believe it will be shallow and short, (which is how my wife describes me!)
Posted in Best Mortgage Rates, CML Gross Lending Figures, Coreco, Economic Recovery, European Union, Mortgage Blog, Mortgage Brokers in London, Mortgage Market, The Economy | Also tagged CML Figures, Coreco, Economy, Mortgage Broker in London, Mortgage Rates, The Economy |
So this is my 3rd Market Watch now and apart from the fact that I am still waiting for a decent photo rather than the one glaring at you now, I have already had a taste of the difficulties of this column and how people, and by people I mean lenders, react to it.
More in a sec, but first the headlines: Swaps have continued on their slight downward trajectory with LIBOR again holding firm.
Three-month LIBOR is unchanged at 1.09%.
1-year money is down 0.09% at 0.985%
2-year money is down 0.08% at 1.23%
3-year money is down 0.09% at 1.26%
5-year money is down 0.10% at 1.485%
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%
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.
