Asia Stocks to Track US Rebound on Profit Optimism: Markets Wrap
European stocks rose for a second day after strong earnings from some of the region’s biggest companies, while positive economic data helped boost sentiment.
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European stocks rose for a second day after strong earnings from some of the region’s biggest companies, while positive economic data helped boost sentiment.
Taylor Wimpey Plc is failing to see lower mortgage rates translate into higher levels of home sales and is maintaining its forecast for fewer deals in 2024.
Chinese mainland investors increased their portion of total turnover of Hong Kong stocks to a record daily average in April, with the latest measures to bolster the city’s position potentially boosting their purchases.
Zhao Xiaowei did what would have been unthinkable just a few years ago: He quit his Beijing barista job and returned to his northeastern rust-belt hometown for a better future.
South Korea is emerging as a closely watched weak link in the $63 trillion world of shadow banking.
Dec 13, 2017
The Canadian Press
TORONTO — New stricter mortgage rules are expected to slow the housing market next year, but prices are still expected to rise about five per cent, according to a report by Royal LePage.
In its market survey forecast, the real estate firm says its house price composite, which measures prices in 53 Canadian cities, is expected to increase 4.9 per cent next year to $661,919.
A new stress test for homebuyers who don't need mortgage insurance will be required starting next year.
The new rules are expected to reduce the maximum amount buyers who have a down payment of 20 per cent or more will be able to borrow starting Jan. 1.
Royal LePage said some potential buyers looking to upgrade may delay listing their homes as they will not be able to access sufficient financing for a planned new home.
However, it said that with further diminished affordability, it is likely that demand for entry-level properties will surge.
"Insufficient housing supply in Canada's largest cities will begin to drive significant price increases to higher than normal levels once the market adjusts to the new stress test," Royal LePage CEO Phil Soper said in a statement.
"Aggressive home price inflation is still more of a threat today than the risk of a market crash in Toronto or Vancouver. On the other side of the coin, regions where demand is soft and already struggling to absorb the supply of homes for sale may have difficulty adjusting to these measures."
The Royal LePage report suggests home prices in the Greater Toronto Area are expected to increase 6.8 per cent in 2018, while the Greater Montreal Area is expected to see an increase of 5.5 per cent.
Greater Vancouver is expected to increase 5.2 per cent in 2018.
Meanwhile, the Teranet-National Bank national composite house price index for November was down 0.5 per cent from the previous month, the third consecutive monthly decline.
The index fell in four of the 11 metropolitan areas surveyed including Toronto, Hamilton, Ottawa-Gatineau and Edmonton.
Compared with a year ago, the national composite index was up 9.2 per cent, the smallest 12-month gain since June 2016.