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Debate House Prices
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Mortgage Arrears: The Facts
Comments
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Graham_Devon wrote: »
Where to you get total mortgages the way I understand your link is that the 4.58% is a percentage of loans in arrears.
section 16 in link
Also section 15 says total number of in arrears was 7% lower than 2011 q30 -
Graham_Devon wrote: »
Interesting stuff.
Surprised to see 56% of new lending is on fixed rate, despite the obvious penalty in voluntarily paying higher rates than are necessary.
Average interest rate on new advances is also 3.9%, which is only around 1.1% lower than has been typically available for most of the last decade. Fixed are paying 4.4%.
New lending for Purchase rose, as did new lending for FTB-s.
But back to your point, it seems there are two types of "forbearance".... The first is that of the "temporary concession" you reported earlier, such as payment holiday or a temporary switch to I/O. The second is that of a "formal arrangement", where arrears are repaid over time.
So while you are right, that the temporary concessions rose by half a percent or so over the quarter, you completely forgot to mention that the proportion of those accounts requiring formal arrangements fell by nearly 2% over the last year.;)“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
A market with no new entrants isnt a healthy market though is it Hamish?HAMISH_MCTAVISH wrote: »FTB lending up 12% in the last year.
Still a long way to go though, what with mortgage rationing forcing over a million people into renting instead of buying over the last few years, but that pent up demand will release eventually.
Would you consider then Paul that with FTBer activity increasing, the market is getting healthier:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
IveSeenTheLight wrote: »with FTBer activity increasing, the market is getting healthier
Certainly looks that way, although still a very long way to go in increasing mortgage funding, there are definite signs of life.
Not that I expect any of the usual suspects to admit it.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0
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