China Unveils Measures to Revitalize Struggling Economy

Creative Media NewsTuesday, 24 September 2024, 14:030

China’s central bank, the People's Bank of China (PBOC), has introduced a significant set of measures aimed at boosting its slowing economy. PBOC Governor Pan Gongsheng announced plans to lower borrowing costs and increase banks' lending capacity, following months of underwhelming economic data that suggest China may miss its 5% growth target for the year.

House prices will rise 2.5% in 2024, but a housing surplus will limit expansion

Creative Media NewsThursday, 29 August 2024, 5:000

According to Zoopla, house prices are on track to conclude the year 2.5 percent higher than when it began, although sellers are still advised not to set unrealistic asking prices.It represents a more optimistic forecast from the property marketplace, which expected a 2% price drop.The property website stated that house prices increased by 1.4% in the first seven months of 2024, compared to 0.1% the previous year.

More mortgage rate cuts as Nationwide offers 3.83%

Creative Media NewsThursday, 15 August 2024, 3:000

Major lenders continue to cut mortgage rates daily, with Nationwide launching a new market-best purchase tomorrow.The building society is preparing a five-year fixed rate of 3.83 per cent, the lowest mortgage available from any lender.It applies to both new and existing Nationwide customers who are moving house. It costs £1,499. The mortgage has a 4.1 percent interest rate if no fees are paid.

Halifax is the latest to lower mortgage rates.

Creative Media NewsThursday, 10 August 2023, 16:000

HSBC, Nationwide, and TSB have also reduced prices on certain products this week, despite the Bank of England’s decision to raise interest rates for the fourteenth consecutive time. This week, Halifax became the latest lender to reduce mortgage rates by announcing reductions of up to 0.71 percentage points. Other banks, including HSBC, TSB, and Nationwide,...

Five-year fixed mortgage rates exceed 6%.

Creative Media NewsThursday, 6 July 2023, 20:000

Since May, mortgage rates have risen consistently as lenders price in anticipated Bank of England interest rate hikes. The average five-year fixed mortgage rate has increased to 6.01%, according to a financial information company. According to Moneyfacts, the average two-year fixed-rate mortgage has increased to 6.47 percent. Monday’s average five-year rate was 5.97%, while the...

Mortgage rates: The worst of this mess is yet to come.

Creative Media NewsSunday, 25 June 2023, 8:000

There is an abundance of volunteers willing to share their experiences. “My monthly mortgage repayments have increased by £270 per month.” “It’s terrifying. Petrifying.” “Several hundreds of pounds.” “I don’t slumber well at night. Distraught. I am powerless.” This was the week that inflation stalled, the Bank attempted to regain control, Number 11 advisers warned...

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