UK mortgage approvals hit new five-year high, business lending slumps

British lenders approved the highest number of mortgages in more than five years in November but business lending slumped, Bank of England data showed on Friday, raising doubts about the sustainability of growth. Britain’s economy enjoyed some of the fastest growth of any major industrialized economy in the first nine […]

Nigerian president: 200,000 affordable mortgages

Nigerian President Goodluck Jonathan says his government will create more than 200,000 affordable mortgages over five years and introduce rent-to-own options for low-income housing to address a massive shortage in Africa’s most populous nation. Jonathan outlined the plans in a New Year’s Day address. Nigerian banks currently hold only 20,000 […]

U.S. mortgage applications fall as refinance hits five-year low: MBA

Applications for U.S. home mortgages fell for a second week and hit a 13-year low as mortgage rates rose due to a bond market sell-off following the Federal Reserve’s decision to pare its bond purchase stimulus in January, an industry group said on Tuesday. The Mortgage Bankers Association said its […]