The drop in the rate on the UK’s most widely sold mortgage to a seven-year low has failed to revive lending because it’s too high to persuade borrowers to refinance when fixed-rate terms lapse, Moneyfacts said. UK banks approved 49,871 mortgages in April, 46% fewer than the monthly average of the past 15 years, according to Bank of England data.

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U.S. home prices rise by 4% in December

Last December, home prices climbed by 4% from the previous year, according to CoreLogic. By the end of this year, the company projects they’ll increase by 5.2%.

Feb 17, 2020 By
3d rendering of a row of luxury townhouses along a street

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