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Black and Hispanic U.S. mortgage borrowers are much more likely to be delinquent or in a "forbearance" program than white borrowers, highlighting how the COVID-19 crisis is exacerbating systemic racial disparities, according to new data from the Consumer Financial Protection...
By Reuters Staff 1 Min Read LONDON, May 4 (Reuters) - British mortgage lending showed the biggest net increase on record in March, Bank of England data showed on Tuesday. Mortgage borrowing rose by a net 11.8 billion pounds ($16.4 billion) in March, the strongest since the series began in April 1993, the BoE said. British lenders approved 82,735 mortgages in March, down by about 5,000 from February, the BoE data also showed. A Reuters poll of economists had pointed to 92,300 approvals. ($1 = 0.7205 pounds) (Reporting by William Schomberg and David Milliken)
By Reuters Staff (Corrects name of agency in second paragraph.) STOCKHOLM, March 24 (Reuters) - Swedish rules on repaying mortgage debt, which were suspended last spring to help households remain solvent amid the coronavirus pandemic, will resume in September, the country’s financial regulator said on Wednesday. The mortgage break was used by 230,000 borrowers, but with household debt rising in 2020, a return to stricter rules was needed, particularly as the wider economy had stabilised after the shock of the virus, the Swedish Financial Supervisory Authority said in a report. “The macroe...
By Reuters Staff 1 Min Read WASHINGTON (Reuters) - The U.S. housing finance regulator on Thursday said it was extending temporary loan origination flexibilities until the end of next month amid the ongoing coronavirus pandemic, while other accommodations would likely end. The Federal Housing Finance Agency said in a statement that it would allow alternative appraisals on certain refinance loans, alternative methods for documenting income and verifying employment, and expanded use of power of attorney for loan closings. Other flexibilities on employment verification, condominium project review...
U.S. mortgage rates, which have hovered at or near historic lows for months and contributed to the housing market bouncing back to above pre-pandemic levels, are now on the rise.