The Commerce Department has today revealed a rise in sales of new homes in the US for the month of December. According to the Commerce Department, new single-family home sales rose to a better than expected annual rate of 329,000 units, from a revised 280,000 in November. However, on an annual basis, December sales were [...]
The US housing market is expected to remain weak for the next two years, these are the findings of property websites, Trulia and RealtyTrac. According to the survey, more than half (58%) of US citizens expect the property market to stay weak until 2012, while one in five believe it will be 2015 or later [...]
The Standard & Poor’s/Case-Shiller composite index of 20 metropolitan areas fell more than expected in September. According to the index, house prices were 0.8% lower compared with August. David Blitzer, chairman of S&P’s index committee, comments: “While some of the bad numbers may reflect the end of the government’s tax incentive for first-time homebuyers, there [...]
The National Association of Realtors (NAR) has today revealed a further fall in sales of previously owned homes in the US for the month of June - the second consecutive monthly fall. The industry body said sales fell 5% in June to an annual rate of 5.37 million units. While the figure is 9.8% higher [...]
The National Association of Home Builders (NAHB) today revealed a fall in confidence, sending shares lower. Wall Street experienced falls after the US home builder sentiment index fell in July to the lowest level since April 2009 after the Government tax credit incentive expired a few months ago. According to the index, confidence among US [...]
The National Association of Realtors (NAR) today said its Pending Home Sales Index fell by 30% in May, after rising 23% between January and April. The slump was attributed to the expiration of a Government incentive – which ended on 30 April. While a fall in deals was anticipated, it was double the amount that [...]
The National Association of Realtors (NAR) today said its Pending Home Sales Index rose for the third consecutive month in April boosted by the expiration of a Government tax credit. The NAR said the index rose 6% in April - far exceeding the 4.3% rise which many analysts had predicted. However, the index is 22.4% [...]
The National Association of Realtors (NAR) has today revealed a rise in sales of previously owned homes in the US for the month of April, boosted by the expiration of a Government tax credit, which ended last month. The industry body said sales surged 7.6% in April (a five-month high) to an annual rate of [...]
The National Association of Realtors (NAR) has revealed a fall in sales of previously owned homes in the US for the month of January, suggesting the extension of the $8,000 tax credit for first-time buyers is having little appeal. The industry body said sales agreements fell 7.6% in January compared with December and the index [...]
The National Association of Realtors (NAR) has today revealed a sharp fall in sales of previously owned homes in the US for the month of December. The industry body said sales fell 16.7% to an annual rate of 5.45 million units in December, down from 6.54 million the previous month. Analysts had expected a rate [...]
The National Association of Realtors (NAR) today said its Pending Home Sales Index fell sharply by 16% in November to 96.0 from 114.1 in October, ending a nine-month rise. The NAR attributed the fall on the end of a rush to beat the original expiration of the $8,000 tax credit for first-time buyers. The tax [...]
The Standard & Poor’s/Case-Shiller composite index of 20 metropolitan areas remained flat in October after rising by a revised 0.4% the previous month. The latest figures dashed hopes of a sixth consecutive monthly increase and fell short of analysts expectations who had hoped for a 0.2% rise. Meanwhile, on an annual basis, the 20-city index [...]
The National Association of Realtors (NAR) said its Pending Home Sales Index rose to 114.1 in October - its ninth consecutive monthly rise. The index is up 31.8% from this time last year - the biggest year-on-year gain since the series began in 2001. However, many analysts believe that the US housing market is being [...]
The National Association of Realtors has revealed a rise in sales of previously owned homes in the US for the month of October. The industry body said sales surged 10.1% to an annual rate of 6.1 million units in October, up from a revised 5.54 million the previous month. Not only was the rise in [...]
The National Association of Realtors (NAR) said its Pending Home Sales Index rose to 110.1 in September - its eight consecutive monthly rise. The index now stands at the highest level since December 2006 when it was 112.8. The index is 21.2% higher than September last year when it was at the 90.9 mark and [...]
Asda flier promotes expensive cash withdrawals
The ‘Asda Price’ slogan took on a whole new meaning after a flier, designed to look like a Christmas card, suggested that Asda Money customers should withdraw cash from an ATM using their credit card. Customers withdrawing cash on their credit card are charged 3 per cent of the amount withdrawn, or £5, whichever is [...]
The cost of car insurance fell by 6.6 per cent this month, compared with a year ago, according to Tiger Watch, the car insurance price monitor produced by Tiger.co.uk. Compared with November, prices increased by 0.4 per cent, but across a three month period, prices have fallen to a two-year low. Competition between insurance providers [...]
Chancellor open-minded about ending inflation target
Chancellor George Osborne has welcomed remarks made by the incoming Governor of the Bank of England about scrapping the inflation target to focus on gross domestic product (GDP). Such a change in strategy would require the Bank of England to introduce new measure to stimulate the economy, even if this caused inflation to rise. Mark [...]
Shepshed Building Society joins with The Nottingham
The Nottingham and Shepshed building societies will merge in July 2013, with Shepshed’s three branches being rebranded under The Nottingham name. Shepshed Building Society, which has branches in Shepshed and Loughborough, Leicestershire; and Ruddington, Nottinghamshire, has struggled to grow in the face of economic downturn and increased competition, prompting it to seek a merger. It [...]
Moneyfacts reports fall in number of savings accounts
The Funding for Lending Scheme (FLS), launched by the Bank of England and the Treasury this summer, has caused a sharp fall in the number of accounts available for savers, according to Moneyfacts, a leading provider of personal finance data. FLS is designed to increase the availability of mortgages and business loans by providing banks [...]
Large deposits still challenging first-time buyers
The Council of Mortgage Lenders (CML) is forecasting a positive year in 2013 for the UK property market, but first-time buyers are still struggling to find the large deposits required by mortgage lenders. The CML has recorded a steady increase in mortgage lending with 49,500 home loans advanced for house purchases in October. This represents [...]
HSBC fined $1.92 billion by US authorities
HSBC has received a record $1.9 billion (£1.2 billion) fine from US federal and state authorities after its poor money laundering controls allowed it to be used as a conduit for drug barons and nations on which sanctions had been imposed, including Iran. Following a multi-agency investigation HSBC was charged with violating sanctions by transferring [...]
Northern Rock customers to receive windfall
Northern Rock customers could receive a windfall of around £1,700 because of an error in the wording of loan statements. The mistake, made by the nationalised part of the bank, will cost UK taxpayers a total of £270 million. Up to 152,000 customers who took out personal loans of less than £25,000 will receive an [...]
Government acts to curb whiplash epidemic
Medical panels could be introduced to assess car drivers and passengers making an insurance claim for a whiplash injury following an accident. The number of personal injury claims relating to road accidents has soared by 60 per cent since 2006, despite a 20 per cent fall in road traffic accidents and the government is to [...]
Insurers warn householders to keep Christmas gifts secure
With UK households expected to spend around £8.5 billion on Christmas presents this year, according to a survey by Tesco Bank, insurers are warning consumers to keep their gifts secure. The Association of British Insurers (ABI) says that insurers received £35m of claims for the 23,000 burglaries which took place in December last year. Shoppers [...]
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