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.
Apr 29, 2024
The Canadian Press
The majority of Canadians aspiring to buy a home say they will push their plans to next year or later to wait for interest rates to drop, a new survey shows.
Bank of Montreal says 72 per cent of respondents hoping to buy a home will wait until borrowing costs fall — an increase of four per cent compared with last year.
While interest rate cuts are expected in the second half of the year, BMO Capital Markets senior economist Robert Kavcic says it is still a long way for rates to be low enough to restore affordability to recent norms.
The survey, conducted by Ipsos from Feb. 28 to March 18, shows 85 per cent of respondents say they're making real financial progress toward buying their first home but face financial anxiety.
Among the top concerns are unexpected expenses, climate considerations such as wildfires and the high costs of homeownership.
BMO's Hassan Pirnia says despite the economic and market challenges, many young Canadians are preparing to embark on their homebuying journey and enter the real estate market for the first time.
This report by The Canadian Press was first published April 29, 2024.