The Money blog is your place for personal finance and consumer news. Scroll down for posts on how superstitions could devalue your house, the cost of supporting your Premier League team and a Michelin-starred meal that could be yours at home. Leave your thoughts on anything we cover below.
Friday 13 September 2024 13:27, UK
Everyone has their superstitions - but ones about today's date are having a real impact on the housing market.
Analysis by Rightmove shows that Friday the 13th tends to be quieter for house sale completions than any other Friday - which which is usually the busiest day of the week for home moves.
And the 13th day of the month is typically the quietest day for completions compared to any other day of the month.
Rightmove also found that houses numbered 13 are valued at £5,521 lower than the average of £364,139.
Meanwhile, houses with the "lucky" number seven have an average valuation of £369,770.
Tim Bannister, Rightmove's property expert, said: "Despite the superstitions surrounding the number 13 and Friday the 13th, buyers willing to challenge these traditions could find themselves in a prime position to negotiate better deals.
"Our data shows that significant discounts are often available on properties with this traditionally unlucky number.
"With potential savings of over £5,000 - money that could be put towards stamp duty or other moving expenses - even the most superstitious buyers might be tempted to overlook the number on the door."
Friday the 13th is considered unlucky by some for biblical reasons - Judas, who betrayed Jesus, was the 13th guest at the last supper.
Some tall buildings don't list the 13th floor, instead jumping from 12 to 14, and some airlines don't have a row 13 on their flights.
The shocking number of people competing for every rental propertyAnyone who has had to move into a rental property lately will know how challenging finding a new place can be, and we can now put a number on how tough the competition is.
Around 21 people compete for every rental property, according to property website Zoopla.
It said the average rent was £1,245 a month in July - £63 a month higher than a year ago.
Zoopla said a lack of supply remains a major challenge for renters.
Although the number of homes to rent is higher than last year, it remains lower than the pre-coronavirus pandemic average, it said.
One in eight (12.5%) of homes listed for sale on Zoopla in July were previously rented.
The website suggested higher mortgage rates have acted as an additional catalyst for landlord sales over the past two years, on top of longer-term tax and regulatory changes.
Nathan Emerson, chief executive of property professionals' body Propertymark, said: "The rental market has been suffering from a lack of supply against an ever-growing demand for a concerningly long period of time.
"The housing sector continues to see issues escalate year-on-year and the real-world effect is that renters face an increasing challenge to secure a suitable property for their needs."
Why US markets are ones to watch todayIt may be worth keeping an eye on US markets today amid recent signals that borrowing could become even cheaper in the US.
Officials from the US central bank, known as the Fed, have signalled a larger cut than first priced in may be needed - its decision will be announced next Wednesday.
Market expectations are now showing a 41% chance of the first interest rate cut in more than four years being 0.5 percentage points.
That's brought good news for those heading to the US on holidays or buying things in dollars, one pound is back buying $1.31, an amount that had been the greatest in more than a year.
There's little change for sterling against the euro with a pound equalling $1.1847.
Oil is ending the week slightly up from the multi-year low of $70 seen a few days earlier but still at the comparatively low sum of $72.43 for a barrel of the benchmark oil, Brent crude.
After yesterday's market rally, the benchmark UK stock index (the FTSE 100) was slightly down 0.07% this morning with the more UK-focussed FTSE 250 index up 0.38%.
Mortgage overview: Big lenders announce cuts, swap rates are falling - and all eyes on next ThursdayEvery Friday we take an overview of the mortgage market, hearing from industry voices and getting a round-up of the best rates courtesy of the independent experts at Moneyfactscompare.co.uk.
Halifax, Barclays and TSB were among the big lenders announcing cuts this week - as all eyes turn to next Thursday's base rate decision from the Bank of England.
As of yesterday afternoon, markets were pricing in just a 19% chance of a cut - with the strong expectation that the Bank's Monetary Policy Committee will hold fire until its next meeting at the start of October.
The momentum behind a lowering of interest rates has been helped by uncertainty in the US economy - fears of a recession eased somewhat at the end of last week with improved jobs data, but a struggling economy is likely to persuade the Fed to lower rates at a faster than expected rate.
That is helping to bring down swap rates - which dictate how much it costs lenders to lend.
Peter Stimson, from MPowered Mortgages, told industry news wire Newspage: "Fears of a US recession are proving a real fillip to UK borrowers.
"The two-year swap, which two-year fixed rate mortgages are priced off, is now at its lowest level for 18 months and is even lower than it was at the start of the year when lenders were cutting across the board. Five-year swaps are also falling."
Finance expert Rachel Springall said: "Fixed rate mortgage reductions have taken precedence so far this week, with a few prominent brands making tweaks.
"Home movers who want to lock into a longer-term fixed mortgage will find the average overall five-year fixed rate is much higher than it was back in September 2019, which was 2.79%. Week on week, the overall average two- and fixed rate fell to 5.50% and 5.17% respectively.
"Borrowers searching for a deal may find it encouraging that the average shelf-life of a mortgage product rose to 21 days, up from 17 days. Our analysis at Moneyfacts also revealed that the average two-year fixed rate is now at its lowest level since February 2024, the five-year is at its lowest level since March 2024."
Moneyfacts has looked at the best rates on offer now.
The comparison site also looks at what it calls "best buys" - which considers not just the rate, but other costs and incentives. These are their top picks this week.