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.
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.
Aug 5, 2020
The Canadian Press
VANCOUVER - The Real Estate Board of Greater Vancouver says home sales and prices rose in July as more homebuyers took advantage of low interest rates to boost activity.
Buyers purchased 3,128 homes in the Vancouver metro area last month, up from 2,443 in June and up from the 2,557 sold in July 2019. The 28-per-cent sales bump from June came as the market adjusted to virtual sales and safety precautions amid the COVID-19 pandemic and shutdown.
Home prices also rose, hitting a benchmark of $1,031,400, 4.5 per cent higher on a year-over-year basis.
Colette Gerber, the real estate board's chairwoman, said that low interest rates and limited supply have increased competition in the Vancouver real estate market over the past month. While more homes hit the market in July compared with June, the total 12,083 homes listed for sale is down from 14,240 listed a year ago.
Detached homes - as opposed to apartments or townhomes - was the fastest-growing segment in terms of climbing prices and sales volumes. The benchmark price is now $1,477,800 for detached homes in Vancouver, up five per cent year-over-year, after sales volume increased 33.3 per cent to 1,121 detached homes.
“We're seeing the results today of pent-up activity, from both homebuyers and sellers, that had been accumulating in our market throughout the year,” Gerber said in a statement.