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India's housing market can sustain an orderly price escalation given the degree of urbanisation of the economy. Cost push escalation has subsided on weakening commodity prices, although there is the risk of a resurgence in energy costs that could alter the monetary policy response to inflation.
New research reveals 16% less people are using equity release for mortgage repayments in first half 2023 compared to first half 2022. The latest data from Mortgage Advice Bureau’s Later Life’s Market Monitor Report H1 2023 shows the number of people using equity release funds to repay their mortgages has fallen by
The head of Canada's banking regulator said on Thursday its mortgage stress test was "imperfect" and "incomplete" as homeowners on a variable rate mortgages struggle to repay their loans after the central bank's series of interest rate hikes. Office of the Superintendent of Financial Institutions' (OFSI) Superintendent Peter Routledge, speaking at the Scotiabank Financials Summit, addressed the rising financial pressure Canadians are facing such as payment shock at the time of renewal as their fixed payment largely covers only the interest portion of their mortgage. He estimates that variable-rate, fixed-payment mortgages stood at C$369 billion ($269.70 billion) in a mortgage market of C$2.1 trillion.
record home prices, too. combine all those things a triple whammy is having a devastating effect. let me show you, to your point, what mortgage rates have looked like the last few years. if you were lucky enough to lock in rates of august of 2021, well done. let's say your mortgage repayment was $1,000. today your option is paying double that even for above income, average income families, that's a huge whack. it's great, let's be clear if you're a homeowner, if the big american dream is to own your home, leave that money to your kids one day, that's getting further and further away and it doesn't really change until the federal reserve brings rates down, these things ease, people sell their homes, and that will take some time. >> rent prices remain very high with the stickiest part of the inflation issue. >> and that's the cash crunch. >> a guy who ran on the rent is too high. >> thanks, julia.