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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.
Jan 8, 2019
The Canadian Press
TORONTO - The chief executive of Canadian Imperial Bank of Commerce says he expects overall mortgage growth in the country to be flat or in the low-single digits for the "foreseeable future."
Victor Dodig says the potential for mortgage growth to turn negative will hinge on whether the Canadian housing market takes a negative turn, driven by other macroeconomic factors.
The CIBC chief's comments at the RBC Capital Markets Banking CEO conference today come after the Canadian Real Estate Association said national home sales are projected to fall to a near-decade low this year.
CREA last month said rising interest rates and strict mortgage stress-test rules continue to weigh on homebuyer sentiment.
Toronto-Dominion Bank chief executive Bharat Masrani told the conference today that he expects mortgage growth in the mid-single digits for 2019.
Scotiabank's CEO Brian Porter says that mortgage activity in the first couple months has been "quite strong," but it remains to be seen what will happen during the crucial spring real estate season.
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