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Canadian Finance Minister Chrystia Freeland’s budget unveiled more details about a plan to turn the federal government, which is the country’s largest landowner, into a provider of low-cost leases for builders and developers.
Fannie Mae is selling agency mortgage backed securities designed to appeal to socially minded investors, as the mortgage giant looks to draw more buyers into the market to help fill a void left by the Federal Reserve stopping purchases.
Canada Mortgage and Housing Corp. says the annual pace of housing starts in March declined seven per cent compared with February.
A rebound at John Paulson’s family office boosted returns last year but it still wasn’t enough to keep the billionaire investor from having to play catch-up.
New home construction in the US slowed last month as a leveling off in interest rates has given way to a lull in housing demand and caution among builders.
Aug 7, 2020
, Bloomberg News
(Bloomberg) --
U.K. house prices posted their biggest gain this year in July, pushing the average cost of purchasing a home to a record amid pent-up demand and government incentives.
Average house prices rose 1.6% from June to an average of 241,604 pounds ($316,720), mortgage lender Halifax said Friday, after the longest run of declines in a decade. From a year earlier, prices gained 3.8%.
The housing market was all but shuttered for weeks during the nation’s lockdown, prompting Chancellor of the Exchequer Rishi Sunak’s decision to temporarily waive the tax on the first 500,000 pounds of any property purchase.
“Confidence is currently growing, the immediate future for the housing market looks brighter than many might have expected three months ago,” said Russell Galley, managing director at Halifax. “However, looking further ahead, there is still a great deal of uncertainty around the lasting impact of the pandemic. A weakening in labor market conditions would lead us to expect greater downward pressure on prices in the medium-term.”
©2020 Bloomberg L.P.
