Banks Warn of Growing Energy-Related Risks in Mortgage Portfolios
Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
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Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
South Korea’s top financial watchdog attempted to revive optimism over the nation’s corporate reform initiatives to investors in New York while soothing concerns over the short-selling ban.
Inflation-related releases across the Group of Seven will prime central bankers for crucial June interest-rate decisions, just as they meet in Italy to discuss the state of the world economy.
Big US bond investors have been aggressively shifting money into long-dated notes, betting that the unloved asset class will be one of the winners from eventual interest rate cuts.
A measure of underlying US inflation cooled in April for the first time in six months, a small step in the right direction for Federal Reserve officials looking to start cutting interest rates this year.
Oct 3, 2018
Bloomberg News
,Toronto’s housing market continues to settle into a new normal as sales and prices changed little in September.
Home sales climbed a seasonally adjusted 0.2 per cent from August to 6,455, 1.9 per cent more than a year ago, the Toronto Real Estate Board said Wednesday. The average home price fell 0.5 per cent from August to $796,786, 2.9 per cent higher that a year earlier. The benchmark price, which measures the value of a typical home, was up just 0.1 per cent on the month to $765,400.
“While higher borrowing costs and tougher mortgage qualification rules have kept sales levels off the record pace set in 2016, many households remain positive about home ownership as a quality long-term investment,” the board’s president, Garry Bhaura, said in a statement. “As the Greater Toronto Area population continues to grow, the real challenge in the housing market will be supply rather than demand.”
Toronto’s housing market has kept its footing over the past few months as sales grew and prices stabilized, following a correction earlier in the year when government regulations came into place to tame speculative buying.
“Generally speaking, annual rates of price growth have been stronger for higher density home types in 2018, including condominium apartments, townhouses and semi-detached houses,” said Jason Mercer, TREB’s director of market analysis. “In many neighborhoods, these home types provide more affordable home ownership options.”
Detached homes fell behind other housing segments in September, with the benchmark price dropping 1.6 per cent from a year ago to $914,200. In contrast, condo apartments led the price gains, jumping 10.1 per cent from last September to $506,300.
New listings were down 3.1 per cent from a year ago to 15,920. Active listings rose 5.6 per cent to 20,089 from 19,021 last year.