British mortgage approvals more than quadrupled last month from May’s record low and households showed signs of spending more, as the economy began to open up from the coronavirus lockdown.
The US housing market recovery was back on track amid low mortgage rates. The US homebuilding surged to a 13-year high in December as activity increased across the board and this could help support the longest economic expansion on record.
Boosted by a tax cut for home-buyers and a surge in demand for more spacious homes after the lockdown, mortgage approvals jumped to 84,715 from 66,288 in July, their highest level since October 2007, just before the global financial crisis.
US homebuilding increased more than expected in June, but permits for future home construction fell to an eight-month low, likely reflecting uncertainty caused by expensive building materials as well as shortages of labour and land.
SoftBank Group Corp-backed Better HoldCo said on Tuesday it will go public through a merger with a blank-check firm sponsored by investment firm Novator Capital, valuing the mortgage startup at $7.7 billion.
The Dubai property sales volume increased by 136.5 per cent in August 2021compared to same month of last year, according to report of fam Properties.
The latter leads to an increase in the total cost of credit, logically impacting the debt capacity of the UAE residents. And this situation seems set to last since the last increase in September, in an international context favorable to inflation.