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.
Latest Videos
The information you requested is not available at this time, please check back again soon.
Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
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.
Emerging-market currencies dipped Friday on dwindling optimism over Federal Reserve rate cuts, paring their fourth-straight week of gains.
Jul 7, 2020
BNN Bloomberg
,Home prices climbed to a record high in Toronto last month, and the local real estate board suggested there's no end in sight with plenty of buyers hunting for a home.
The average selling price for all homes sold in the Greater Toronto Area climbed 11.9 per cent year-over-year in June to $930,869, according to data released Tuesday by the Toronto Regional Real Estate Board (TRREB) . That exceeds the previous high of $920,791 that was logged in April 2017 amid bubble fears that were running rampant at the time and which prompted intervention by Ontario's then-Liberal government.
Prices rose across all property types last month, led by a 22 per cent surge for semi-detached homes in the city of Toronto, where the average price reached almost $1.3 million.
Selling activity rose sharply as COVID-19 lockdown measures eased in the month. Indeed, 8,701 properties traded hands across the GTA in June, representing an 84 per cent jump from May.
Meanwhile, the number of homes on the market rose almost 33 per cent month-over-month to 14,001 active listings; however that level of inventory was almost 29 per cent below year-ago levels.
"Before the onset of COVID-19, there was a great deal of pent-up demand in the market. This pent-up demand arguably increased further over the past three months. We are still in the early days of recovery, but barring any setbacks, we should continue to see stronger market conditions in the second half of 2020 as households look to satisfy their ownership housing needs," said TRREB President Lisa Patel in a release.