Starling Bank turns a profit on mortgage loan growth

Starling Bank turns a profit on mortgage loan growth

British digital bank Starling has reported its first annual profit after breaking into the mortgage market with a series of portfolio acquisitions. The app-based bank posted a pre-tax profit of £32.1mn for the year to the end of March, reversing a £13.7mn loss in the same period a year earlier. Revenues were boosted by the

China’s mortgage boycotts spread online with billions in home loans at stake

China’s mortgage boycotts spread online with billions in home loans at stake

Hundreds of thousands of homebuyers in at least 80 Chinese cities are refusing to pay their mortgages as property developers struggle to complete their building projects, signalling a new era of turbulence for China’s continued real estate crisis.  As of July 12, homebuyers in 22 Chinese cities had threatened to stop their mortgage payments over

Mortgage demand hits 22-year low as loan applications continue to drop

Mortgage demand hits 22-year low as loan applications continue to drop

Tom Rood, SitusAMC Managing Director, discusses the increased costs of building a home and buying in the current real estate market Mortgage applications decreased last week, the third week in a row, as they now sit at the lowest level since 2000, according to a new survey. On Wednesday, the Mortgage Bankers Association (MBA) released

Mortgage demand drops to lowest level in 22 years

Mortgage demand drops to lowest level in 22 years

The pain in the mortgage market is only getting worse as higher interest rates and inflation hammer American consumers. Mortgage demand fell more than 6% last week compared with the previous week, hitting the lowest level since 2000, according to the Mortgage Bankers Association’s seasonally adjusted index. Applications for a mortgage to purchase a home

How Applying For A Mortgage Will Affect Your Credit Score

How Applying For A Mortgage Will Affect Your Credit Score

Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We earn a commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners. Your credit score plays an important role in securing your mortgage. That’s because lenders use it

Demand for adjustable-rate mortgages surges, as interest rates jump

Demand for adjustable-rate mortgages surges, as interest rates jump

Mortgage applications to purchase a home rose 8% last week compared with the previous week, bolstered in part by demand for adjustable-rate mortgages, according to the Mortgage Bankers Association’s seasonally adjusted index. Applications were, however, 10% lower than they were in the same week one year ago. A big jump in mortgage rates may have

China vows timely home deliveries in wake of property protests

China vows timely home deliveries in wake of property protests

HONG KONG, July 14 (Reuters) – Chinese regulators on Thursday vowed to help local governments deliver property projects on time after homebuyers threatened to stop mortgage payments on unfinished apartments, in the first sign Beijing was stepping in to end the market chaos. The homebuyers’ threats have deepened investor concerns about the property sector, which

Home loan size retreats from record as mortgage application demand cools

Home loan size retreats from record as mortgage application demand cools

Co-founder of Key Advisors Group LLC Eddie Ghabour analyzes the U.S. markets and economy, saying that they have yet to ‘bottom out’ on ‘Varney & Co.’ The average size of a home purchase loan has pulled back from its record high as demand for mortgage applications fell for the second straight week.  According to the

Wells Fargo profit slumps on higher loan loss reserves, mortgage weakness

Wells Fargo profit slumps on higher loan loss reserves, mortgage weakness

A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith Register now for FREE unlimited access to Reuters.com Register July 15 (Reuters) – Wells Fargo & Co said on Friday its second-quarter profit nearly halved as the bank set aside more funds to cover potential loan losses, while its