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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.
Mar 26, 2019
, Bloomberg News
(Bloomberg) -- U.K. mortgage approvals slumped to their lowest level in almost six years, a sign of the Brexit malaise gripping the housing market.
Lenders approved 35,299 home loans in February, 11 percent fewer than in January and the least since April 2013, according to seasonally adjusted figures from lobby group UK Finance published Tuesday.
The weaker-than-expected figures underscore the impact Brexit uncertainty is having on the housing market, particularly in London where property prices are falling outright amid the worst slump since the financial crisis a decade ago.
The UK Finance data covers around 60 percent of total mortgage lending, figures on which are due to be published by the Bank of England on March 29.
Separate figures showed consumer credit rising at an annual rate of less than 4 percent, below the average of the past year.
To contact the reporter on this story: Andrew Atkinson in London at a.atkinson@bloomberg.net
To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Brian Swint, David Goodman
©2019 Bloomberg L.P.
