Mortgage availability hit a 16-year high in June with 6,629 options, but the average shelf life shortened to 15 days.

Mortgage availability hit a 16-year high in June with 6,629 options, but the average shelf life of a mortgage shortened to 15 days, down from 28 days in May. Despite the reduced availability time, more mortgages at 90% and 95% loan-to-value were introduced, benefiting borrowers with smaller deposits. The two-year and five-year fixed mortgage rates also rose, with the two-year average rate at 5.96% and the five-year average at 5.52%.

June 10, 2024
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