Is the mortgage market restarting at last?
One recent surprise was a whole host of “sold” signs in the local area that seemed to pop up over the course of just a few weeks.
That would be something of a surprise at any time to be honest. This isn’t an area known for really rapid house sales and these days you’d have expected that sales would go even slower. Well, to be fair, the sales did take quite a while as the signs have been up for months but to have so many “sold” signs going up in such a short time is quite surprising.
Of course, what remains to be seen is whether the signs will remain at “sold” or if they’ll go back to “for sale” which has happened fairly frequently over the past year. One wonders what terms the mortgage calculator will have turned up for the various purchasers. Somehow I suspect that there’ll be rather high deposits required and probably none too good interest rates.
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