Lenders report good profits but tough times ahead

By: ameer@trustedteam.com

The Nottingham Building Society reveals a positive financial performance for the half year to end of June, achieving growth in mortgage lending numbers in a challenging environment. ...

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Powell: Banks are working to avoid ‘clunky’ discount window experience

By: ameer@trustedteam.com

Jerome Powell, chairman of the Federal Reserve, says that more needs to be done to get banks ready to use the discount window after problems with it emerged during...

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U.S. homeowner equity climbs to a record high

By: ameer@trustedteam.com

The share of U.S. mortgage borrowers who are equity-rich climbed to a new high last quarter as the housing market rebounded.Equity-rich mortgages — those that have a loan-to value...

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Rocket returns to top of servicer satisfaction study

By: ameer@trustedteam.com

Rocket Mortgage regained the top spot in terms of consumer satisfaction with their mortgage servicer, scoring higher than it did in 2022 at a time when general consumer contentment...

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New-home sales fall for first time since February

By: ameer@trustedteam.com

U.S. new-home sales declined in June for the first time in four months, suggesting high borrowing costs and prices are restraining momentum in the market.Purchases of new single-family homes...

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Second feature: Rise of borrowers with credit blips

By: ameer@trustedteam.com

ShutterstockMortgage brokers are receiving more applications from customers who have experienced credit problems, as the cost-of-living crisis, much higher interest rates and the financial disruption during Covid start to...

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Lenders show decent profit but tough times ahead

By: ameer@trustedteam.com

The Nottingham Building Society reveals a positive financial performance for the half year to end of June, achieving growth in mortgage lending numbers in a challenging environment. The Nottingham shows...

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Coventry cuts resi and BTL rates

By: ameer@trustedteam.com

Coventry for intermediaries has cut rates on two and five-year fixes for residential and buy-to-let new business applications. Residential rates are being reduced by between 22 and 54 basis points...

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The good news? The Fed doesn’t expect a recession. The bad news? Housing.

By: ameer@trustedteam.com

After a year’s worth of warnings about a recession, Federal Reserve chair Jerome Powell said Wednesday that the central bank’s staff no longer forecasts a nationwide economic downturn. It’s...

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June quarter inflation rises 0.8%

By: ameer@trustedteam.com

Inflation rose 0.8% in the June 2023 quarter and 6% annually, according to the latest data from the Australian Bureau of Statistics, released on Wednesday. This is a marked improvement...

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