AGP Executive Report
Last update: 2 hours agoMortgage Pressure: U.S. homebuyers face a tougher market as average long-term mortgage rates hit 7.59%, up from 6.34% a year ago. Existing-home sales fell 2% in August, and higher insurance, tax and maintenance costs are squeezing affordability. First-Time Buyers: Britain’s £4.7 billion “Your First Home” scheme disappointed builders: loans are not expected until April 2027, and fees could reach 4%. Homebuilder shares dropped more than 6% after the announcement. Seoul Prices: Listings at Seoul’s Eunma complex have jumped to 389, nearly four times last year’s level, while sale prices have fallen below a level brokers once viewed as a floor. Separately, South Korea flagged 351 suspected violations in direct home deals. Affordable Rentals: Madhya Pradesh’s draft housing policy proposes rental homes near workplaces such as hospitals, industrial areas and IT parks, as the state projects demand for 17.17 lakh affordable homes by 2036.
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