US Existing-Home Sales Decline as Rates Keep Buyers Sidelined
Sales of previously-owned homes in the US fell in March from a one-year high, underscoring the lingering impact of high mortgage rates and elevated prices.
Latest Videos
The information you requested is not available at this time, please check back again soon.
Sales of previously-owned homes in the US fell in March from a one-year high, underscoring the lingering impact of high mortgage rates and elevated prices.
Mortgage rates in the US climbed past 7% for the first time this year.
Mortgage shopping isn’t getting much easier these days.
Blackstone Inc. collected more fees from big retail funds and credit strategies during the first quarter, compensating for the slower pace of deal exits.
Ken Griffin’s Citadel and Citadel Securities will move their London base to a new office tower on the edge of the City of London, a major expansion of their space in the latest sign of the firm’s growing heft.
Jul 25, 2019
Bloomberg News
,(Bloomberg) -- Private-home prices in Singapore are on the rise again just one year after the government introduced curbs to cool the market.
Dwelling values jumped 1.5% in the three months through June 30, the steepest gain since the second quarter of 2018, according to final data from the Urban Redevelopment Authority released Friday.
The government introduced cooling measures to slow price increases just over a year ago, in early July 2018. They included raising stamp duties for second homes and tightening loan-to-value limits for housing loans granted by financial institutions. The curbs didn’t take long to have an impact, with home prices falling for a second straight quarter in the three months through March 31.
With prices heading north again, market watchers may start to question whether additional restrictions on property buying are required. Minister for National Development Lawrence Wong said in May that Singapore had done what it set out to do and stabilized the property cycle.
In other highlights from Friday’s data release:
To contact the reporters on this story: Katrina Nicholas in Singapore at knicholas2@bloomberg.net;Michael Sin in Sydney at msin12@bloomberg.net
To contact the editors responsible for this story: Katrina Nicholas at knicholas2@bloomberg.net, Peter Vercoe
©2019 Bloomberg L.P.