Mortgage
Over half of mortgages in Russia have terms exceeding 25 years.
– The share of mortgages for a period of more than 25 years in Russia increased by 10 percentage points year-on-year to 57% in the second half of 2023.
– 15% of mortgage loans were issued for a period of more than 30 years.
– The age of the borrower at the time of loan repayment is increasing, with 42% of mortgages being repaid when the borrower is over 65 years old.
– The share of mortgages where borrowers could make an initial payment at the expense of a consumer loan remained at 6.3%.
– The number of citizens with at least one more consumer loan in addition to mortgages increased by 1.1 million people in 2023.
– Macroprudential allowances were increased by the Bank of Russia since March 1, 2024 to limit risks of debt burden in mortgages.
– The number of borrowers on cash loans stabilized at 24 million people, with the average loan size decreasing.
– The number of credit card users increased by 6.6 million people in 2023, exceeding 27 million people and surpassing cash loan users for the first time.
Source link
Mortgage
CENTUM Canada has revolutionized client engagement with the introduction of Mortgage Monitor™.
Centum Financial Group has launched Mortgage Monitor™, a platform designed to empower homeowners and prospective buyers to make informed financial decisions and build wealth. This platform automatically enrolls clients into a communication system, providing monthly home value updates, personalized product and rate analysis, and mortgage protection support. It also serves as a lead generation tool for brokers. Centum Financial Group is a leading Canadian mortgage broker network with over 200 offices and 2200 agents nationwide. Mortgage Monitor™ is currently in pilot with a full release planned for later in Q2 2024.
– Centum Financial Group launches Mortgage Monitor™ to empower homeowners and prospective buyers
– Platform provides monthly home value updates, personalized product and rate analysis, and mortgage protection support
– Serves as a lead generation tool for brokers
– Centum Financial Group is a leading Canadian mortgage broker network with over 200 offices and 2200 agents nationwide
– Mortgage Monitor™ currently in pilot with full release planned for later in Q2 2024
Source link
Mortgage
Mortgage applications experienced a slight decline last week, even with a decrease in rates.
In the week ending March 29, mortgage application volume decreased by 0.6%, with the average rate for a 30-year fixed-rate mortgage dropping to 6.91%. Refinance applications decreased by 2% compared to the previous week and were down 5% from the same week last year. Purchase applications also decreased by 0.1% compared to the previous week and were down 13% from the same week last year. The refinance share of mortgage activity decreased to 30.3% of total applications, while the adjustable-rate mortgage share remained unchanged at 7.0%. Overall, mortgage rates decreased slightly, but did not significantly impact overall application activity.
– Mortgage application volume decreased by 0.6%
– Average rate for a 30-year fixed-rate mortgage was 6.91%
– Refinance applications decreased by 2%
– Purchase applications decreased by 0.1%
– Refinance share of mortgage activity decreased to 30.3%
– Adjustable-rate mortgage share remained unchanged at 7.0%
– Mortgage rates decreased slightly but did not significantly impact application activity.
Source link
– Mortgage rates declined slightly last week, with the 30-year fixed rate at 6.91% and the 15-year fixed rate at 6.35%
– Refinance share of total applications decreased to 30.3%
– ARM share remained steady at 7% of total applications
– FHA share of total applications decreased to 11.7%
– VA share increased to 12.1%
– USDA share remained unchanged at 0.5%
– Purchase applications were unchanged overall, with FHA purchases increasing slightly
– Refinance applications fell 5% below last year’s pace
Source link
-
Donald Trump8 months agoDon Hankey is a billionaire who supported President Trump’s bond in New York. Here are some key facts to know about him.
-
Technology8 months agoPixel Watch introduces a unique way to display the time with the new ‘Vibration watch’ feature.
-
Donald Trump8 months agoJoin us: Trump campaign urges Haley supporters to stay loyal and support President Trump instead | Donald Trump
-
Celebrities8 months ago
Check out the amazing photos from Taylor Swift’s Eras Tour
-
Mortgage8 months ago
Key points to consider before purchasing a new home
-
Sports8 months agoWhat is happening with Dean Wade and when can we expect him to rejoin the Cavs’ lineup?
-
Headlines8 months agoRuby Garcia’s family were taken aback by Trump’s remarks regarding her death.
-
Celebrities8 months agoDance studio in Madisonville now offering camp themed “Eras Tour”
