“UK Home Prices Face Looming Plunge With Mortgage Rates Soaring
Even estate agents are feeling gloomy as borrowing costs exceed 6% and banks start to get nervous.
Rapidly rising interest rates mean the 13-year bull run in the UK housing market is likely drawing to a close.
The average five-year fixed-rate mortgage rose above the 6% threshold for the first time in 12 years Thursday, according to research group Moneyfacts. The average two-year fixed loan hit that level earlier this week. The higher rates have analysts bracing for a plunge in home prices.”
https://www.bloomberg.com/news/artic...-rates-soaring
Looks like I called the top of the market…
Even estate agents are feeling gloomy as borrowing costs exceed 6% and banks start to get nervous.
Rapidly rising interest rates mean the 13-year bull run in the UK housing market is likely drawing to a close.
The average five-year fixed-rate mortgage rose above the 6% threshold for the first time in 12 years Thursday, according to research group Moneyfacts. The average two-year fixed loan hit that level earlier this week. The higher rates have analysts bracing for a plunge in home prices.”
https://www.bloomberg.com/news/artic...-rates-soaring
Looks like I called the top of the market…
Comment