Wednesday, Mar 26, 2008
Mortgages evapourate!
Telegraph: Home owners choose expensive 10-year mortgages 'for protection'
Capital Home Loans withdrew its two, three and five-year fixed-rate deals; Chelsea Building Society pulled all of its deals, saying it will "reprice" them later this week; Intelligent Finance withdrew some fixed-rate deals and Abbey increased rates on several mortgages.
According to MoneyFacts, the personal finance website, the number of mortgages on the market has fallen by two-thirds since July last year.
Posted by tyrellcorporation @ 08:35 AM (271 views) Add Comment
1 Comment
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1. tyrellcorporation said...
A speculative frenzy and recklessly cheap credit blew up this bubble - both are now in reverse. I can't see how prices are going to stagnate; a 20% drop is minimum now IMHO.