Will mortgage rates fall? Your Budget questions answered
Published On Oct 30, 2024, 3:48 PM
The article discusses current trends in mortgage rates, the impact of a stamp duty surcharge on second homes, potential National Insurance tax increases affecting business hiring, the stability of the pension tax-free lump sum, and upcoming changes in bus fares and inheritance tax calculations for pension pots. Mortgage rates are anticipated to fall, though not as sharply as previously thought. The stamp duty increase could squeeze the rental market, increasing rents. Higher National Insurance could limit wages and hiring for businesses.
Stock Forecasts
XHB
Positive
Given the anticipated decline in mortgage rates, the housing market may show signs of improvement as affordability increases. Potentially more first-time buyers could enter the market.
SPY
Positive
With the increase in stamp duty on buy-to-let properties, rental prices may rise, benefitting landlords who own rental properties despite the reduced number of new landlords entering the market.
IWM
Negative
Higher National Insurance contributions could pressure businesses, leading to wage stagnation and reduced hiring capacity, potentially negatively impacting the economy.
Related News
Can Democrats Win Back Voters From Trump on Trade Policy?
Oct 30, 2024, 11:31 AM
The Biden administration has pursued a big shift in trade policy, but it’s not clear whether that will be enough to win votes.
US economy grew 2.8% in the third quarter, slower than expected
Oct 30, 2024, 9:24 AM
The U.S. economy grew at a 2.8% annual rate in the third quarter according to Commerce Department data released Wednesday. That pace is slightly slower than what economists forecasted.
Stock market today: Dow futures slip, Nasdaq steadies amid earnings rush, GDP and jobs data
Oct 30, 2024, 8:52 AM
Tech megacaps are in the spotlight after Alphabet's quarterly results showed its high-spending push into AI is starting to pay off.