Banks Warn of Growing Energy-Related Risks in Mortgage Portfolios
Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
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Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
Inflation-related releases across the Group of Seven will prime central bankers for crucial June interest-rate decisions, just as they meet in Italy to discuss the state of the world economy.
Big US bond investors have been aggressively shifting money into long-dated notes, betting that the unloved asset class will be one of the winners from eventual interest rate cuts.
A measure of underlying US inflation cooled in April for the first time in six months, a small step in the right direction for Federal Reserve officials looking to start cutting interest rates this year.
Emerging-market currencies dipped Friday on dwindling optimism over Federal Reserve rate cuts, paring their fourth-straight week of gains.
Jan 5, 2023
The Canadian Press
The Quebec Professional Association of Real Estate Brokers says home sales in Montreal last month fell 39 per cent from a year earlier to a level not seen in December since 2014.
The real estate organization says sales for the month amounted to 2,232 and contributed to a 2022 sales total of 21,371, 20 per cent below 2021.
The board says it's typical for December to bring fewer sales and new listings, but the 2,359 properties that hit the Montreal market last month was a level not seen since 2002.
New listings in the month represented a seven per cent decline from the year before, but 2022 still saw two per cent more new properties on the market than in 2021.
Median prices for single-family homes fell three per cent from the year before to $510,000, while condos edged down one per cent to $375,000 and plexes sank six per cent to $690,000.
Charles Brant, director of the association's market analysis department, says the figures reflect the market's "wait-and-see attitude."
"On the one hand, buyers are hoping that market conditions will improve in their favour. Sellers, on the other hand, are hoping for a stabilization of the market," he says, in a release.
"Active listings continue to rise significantly due to a build-up effect, which could help to vindicate buyers in the coming months."
This report by The Canadian Press was first published Jan. 5, 2023.