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Iceland’s inflation eased to the slowest pace in more than two years, suggesting its central bank is more likely to begin reducing the western Europe’s highest interest rate in the coming months.
The UK housing market recovery is threatened by investors scaling back bets on how far the Bank of England will cut interest rates, according to a new report.
US mortgage rates increased to the highest level in five months, pushing down home-purchase applications for the fifth time in the last six weeks.
The daughter of a Chinese nickel billionaire purchased a multimillion-dollar mansion in Singapore, adding to the list of wealthy people seizing buying opportunities during the market lull.
A rash of failures of A-rated insurers points to a hidden weakness in the market, researchers say.
Feb 15, 2019
, Bloomberg News
Canadian home sales rose for the first time in five months in January, with Montreal leading gains that stretched across about half of markets nationwide.
Sales climbed 3.6 per cent compared to December, the Canadian Real Estate Association said Friday from Ottawa. There were increases in all three of Canada’s biggest cities, with Montreal posting a 7.1 per cent increase and gains of 1.2 per cent in both Toronto and Vancouver.
The report adds to evidence the nation’s housing sector is showing signs of stabilizing, after tighter mortgage rules and rising borrowing costs cooled it down for much of last year and raised worries that real estate markets could be headed for a major correction.
“Homebuyers are still adapting to tightened mortgage regulations brought in last year,” CREA President Barb Sukkau said in the statement.
There were still some signs of weakness in the report. Benchmark prices fell 0.5 per cent on the month and sales are still down from a year ago, falling 4 per cent from January 2018.
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