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 7, 2016
The Canadian Press
A report from the federal housing agency suggests that foreign buyers are more interested in snatching up newer condos in Toronto and Vancouver than older ones.
The report says that while overall rates of foreign ownership in the Toronto and Vancouver condo markets are low -- 3.3 per cent and 3.5 per cent, respectively -- they spike when you look at newer buildings.
Canada Mortgage and Housing Corp. says less than two per cent of Toronto condos built before the year 2000 are foreign-owned.
But for Toronto condos built after 2010, foreign ownership spikes to over seven per cent.
CMHC says a similar effect can be seen in Vancouver, where foreign ownership of condos built before 1990 is less than two per cent.
For Vancouver condos built after 2010, foreign ownership rises to around six per cent.
"This report represents another piece in the puzzle of foreign investment in Canada," CMHC's chief economist Bob Dugan said in a statement.
"It remains a top priority for CMHC to continue to get more information on foreign investment in Canada's housing market."