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Which was the decade of high inflation and high unemployment?
Which was the decade of high inflation and high unemployment
What is the relationship between CPI and inflation?
CPI is the indicator of inflation in any country.If CPI is high it means inflation is high.
Is inflation caused by high inflation?
no ,but it is caused by econemy
What does the Phillip's Curve illustrate?
A graph that shows that there is a relation between unemployment and inflation: One can either have a high inflation and low unemployment or low inflation with high unemployment.
Can you have both inflation and recession occurring simultaneously?
Yes, it is possible to have both inflation and recession occurring simultaneously. This situation is known as stagflation, where there is a combination of high inflation and high unemployment or economic stagnation.
Where can someone refinance a mortgage online?
To refinance a mortgage could be done through the different banks. They can also be done through mortgage lenders and brokers. These can be found on line or finance company's on the general high street.
Why despite the huge reduction in Interest rate in the US to quarter a prcent Mortgage lenders still charge home buyers an interest rate as high as six percent without passing any reduction?
Because mortgage lenders make money by charging more interest than they pay.
Has the credit crisis affected the mortgage lending rates?
"The credit crisis has affected the mortgage lending rates drastically. Many lenders are not giving out loans and mortgages at all without either high down payments, or pristine credit."
Which was the decade of high inflation and high unemployment?
Which was the decade of high inflation and high unemployment
How does a repossession affect a mortgage?
If your house is repossessed in the UK you will be entered on to The Council of Mortgage Lenders "Repossession Register" Future mortgage companies check this register as part of their usual credit checks. If there is an entry in yours (or your partners name in joint mortgage applications) then this will have an adverse effect on your application and may result in your mortgage application being turned down by high street lenders. This does not mean it wouuld not be possible to get a mortgage as some companies specialise in obtaining mortgages for people who have previously been repossessed. These companies do however charge more! If you refer to an existing mortgage, on another property, then any previous repossessions will not have an effect on this mortgage, if however you need to remortgage at any time in the future you will be subject to the same problems as outlined above. This would be of particular concern if your current mortgage deal will revert of a lenders Standard Variable Rate (SVR) which is much higher than what your current deal charges. Most deals last 2 or 5 years.
What is the relationship between CPI and inflation?
CPI is the indicator of inflation in any country.If CPI is high it means inflation is high.
Is inflation caused by high inflation?
no ,but it is caused by econemy
How does having a loan impact the likelihood of being approved for a mortgage?
Having a loan can impact the likelihood of being approved for a mortgage because it affects your debt-to-income ratio, which is a key factor that lenders consider when evaluating your ability to repay a mortgage. If you have a high amount of existing debt from a loan, it may make it more difficult to qualify for a mortgage as it could indicate a higher risk of defaulting on payments.
Reasons to Work with a Mortgage Banker?
Working with a mortgage banker can provide personalized service and guidance throughout the home loan process. Mortgage bankers often have access to a wide range of loan products and can help borrowers find the best option for their specific financial situation. Additionally, mortgage bankers can offer competitive interest rates and may be able to expedite the loan approval process due to their in-house underwriting capabilities.
Why haven't housing prices in Australia been affected as much as in the US and UK?
==One Answer== The level of sub-prime lending wasn't as high in Australia as in the US. The number of sub-prime predatory lenders is not as high in Australia as in the US. In the US, the present administration promoted minority home ownership by lowering the requirements to qualify for a mortgage and offering help with down payments and closing costs to low income buyers. That opened the floodgates for unregulated predatory lenders to take advantage of unsophisticated borrowers who couldn't afford the mortgage payments. For that category of lenders, the profit was made at the closing with their fees coming directly out of the proceeds of the mortgage. However, many experts think the backlash from irresponsible lending in Australia is only taking longer to take effect. Many think the Australian housing market will begin to feel the stress of mortgage defaults later this year.
What does the Phillip's Curve illustrate?
A graph that shows that there is a relation between unemployment and inflation: One can either have a high inflation and low unemployment or low inflation with high unemployment.
What happens if your mortgage exceeds the house value?
If your mortgage exceeds the sale price of your property your will be subject to a "Mortgage Shortfall" If you are selling your property to move to another and the shortfall is less the 2% most high street lenders can arrange a loan for your replayment of the mortgage shortfall and will not prevent you selling your property. If the % of "Shortfall" is significant some lenders will insist in you taking a secured loan, or disallow the sale of your property until some of the shortfall is paid. If you have mortgage shortfall, AND mortgage arrears it is unlikely any high street lender will allow you to sell the property and move to another. If your mortgage arrears exceed 3 months they may start repossession proceedings. In most cases if individuals financial situation allows the most cost effective way of dealing with mortgage shortfall if you intend to move and do not have adverse credit is to find the cheapest unsecured loan for the minimun required by the lender to pay off a lump sum of the mortgage which will reduce or remove any shortfall your property currently has.
