Warehouse Glut Hits Values of Sun Life’s Investment Properties
A glut of underused warehouses in the greater Los Angeles area is contributing to valuation pressures for Sun Life Financial Inc.’s US investment properties.
Latest Videos
The information you requested is not available at this time, please check back again soon.
A glut of underused warehouses in the greater Los Angeles area is contributing to valuation pressures for Sun Life Financial Inc.’s US investment properties.
Hedge funds ramped up their selling of financial stocks as US economic growth shows signs of weakness and the sector approaches a key technical level.
Czech inflation quickened more than expected last month after it reached the central bank’s target in the first quarter, bolstering arguments for a more cautious approach to monetary easing.
China will start selling the first batch of its 1 trillion yuan ($138 billion) of ultra-long special sovereign bonds this week, as officials ramp up efforts to support the world’s No. 2 economy.
A Chinese program to backstop distressed developers’ debt dodged its first potential intervention after Country Garden Holdings Co. paid bond interest, averting the moral hazard that such support may fuel.
Jul 30, 2020
Bloomberg News
,Mortgage rates have once again dipped below three per cent.
The average for a 30-year fixed loan was 2.99 per cent, just off the record low set two weeks ago, Freddie Mac said in a statement Thursday. Rates had ticked up to 3.01 per cent last week.
Mortgage rates started sliding to record lows in March as the COVID-19 outbreak roiled financial markets. The low borrowing costs have pushed more buyers to look for homes, fuelling a housing recovery that’s been a bright spot in an economy battered by the pandemic.
The homeownership rate surged in the second quarter to the highest level since 2008, with first-time buyers helping fuel the jump. In June, pending home sales soared 16.6 per cent to the highest level since 2006.
Homebuilders, hit hard when the coronavirus shut down the U.S. economy, have been buoyed by the booming housing market. An index that tracks the industry has more than doubled since March and closed at a record high on Wednesday.
Still, risks abound for housing as the economy sputters. The number of Americans filing for unemployment benefits rose for the second straight week, while Congress has struggled to reach a deal to extend expanded unemployment benefits.