Chinese Banks Keep Lending Rate Unchanged After PBOC Hold
Chinese banks left their benchmark lending rates unchanged following the central bank’s decision last week to hold a key rate on loans it offers to lenders.
Latest Videos
The information you requested is not available at this time, please check back again soon.
Chinese banks left their benchmark lending rates unchanged following the central bank’s decision last week to hold a key rate on loans it offers to lenders.
Bain Capital plans to bolster its real estate team in Japan, the latest global investment firm seeking to capitalize on opportunities in the nation’s property market.
Standard Chartered Plc stuck it out in South Korea’s hotly contested consumer banking market while its global rivals threw in the towel one by one. It’s now paying the price.
China’s latest housing initiative is aimed at vacant properties, a major pain point in a crisis that’s dragged on for almost three years. But analysts say the package of measures is still too small to end the rout.
Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
Dec 21, 2023
BNN Bloomberg
,A downward trend in some Canadian fixed-mortgage rates may be welcome news for eager homebuyers, but real estate experts warn that housing affordability challenges persist.
Rates for a five-year fixed mortgage have declined with a drop in government bond yields, which set the lending rates for home mortgages, RATESDOTCA real estate expert Victor Tran explained in an interview.
"We’ve been on a downward trend on fixed mortgage rates for a few months now," Tran told BNNBloomberg.ca on Thursday.
He linked the falling mortgage rates to a decline in the government bond market that has been ongoing for the past few months, as the market anticipates central bank interest rate cuts on the horizon. Tran said he expects mortgage rates to fall further if the trend continues.
"There will be further rate drops to come if this continues and variable rates are also likely to drop next year," he said.
'STILL TOO EXPENSIVE'
The decline in rates is encouraging for potential homebuyers, Tran said. But he added that most people are waiting for rates to fall further before making a move.
"Rates still remain too high in Canada and for most people it’s still too expensive and unattainable to own a home at these levels," Tran said.
Toronto realtor Davelle Morrison said she’s observed the same trend as Tran.
"I haven’t seen buyers jumping at these lower rates yet," Morrison, broker at Bosley Real Estate, told BNNBloomberg.ca in a Thursday interview.
She added that most buyers anticipate getting into the market when rates are lower.
With files from CTVNews.ca