
Higher Rates, Lower Loan-to-Incomes
New Year Hangover
Regional Remortgage Stress
Mortgage rates have fallen from their recent highs but are still elevated compared to back in the spring. These higher rates have already limited how much buyers can borrow and, if rates stay high, loan-to-income ratios could fall further. As a result, it appears cash buyers have been supporting market activity, so far. Meanwhile, data on when fixed rate mortgages are due to end suggests remortgage pain for over 370,000 in the new year.
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