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
Tag: Mortgage
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
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
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
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
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
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
(Bloomberg) — China’s bank and property stocks rose after regulators sought to defuse a growing consumer boycott of mortgage payments by urging banks to increase lending to developers so they can complete unfinished housing projects. Most Read from Bloomberg The guidance from the China Banking and Insurance Regulatory Commission was issued in response to the
A woman walks near a construction site of apartment buildings in Beijing, China, July 15, 2022. REUTERS/Thomas Peter Register now for FREE unlimited access to Reuters.com Register SHANGHAI/BEIJING, July 18 (Reuters) – Chinese regulators stepped up efforts to encourage lenders to extend loans to qualified real estate projects as the beleaguered property sector faced fresh