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.
May 6, 2019
BNN Bloomberg
,The Greater Toronto Area's housing market saw an early spring sales surge last month, in the latest sign of sharp divergence between the country's two most-scrutinized real estate hubs.
Sales across the GTA rose 16.8 per cent year-over-year in April as 9,042 properties traded hands, according to data released by the Toronto Real Estate Board (TREB) Monday.
Selling activity picked up across all property types, with detached home sales rising at the fastest rate (21.9 per cent). The average selling price across the GTA for those detached properties slipped in April, while the average selling price for all properties inched up 1.9 per cent year-over-year to $820,148.
The sales spike in Toronto stands in stark contrast to the Greater Vancouver Area’s housing market, where sales tumbled 29.1 per cent year-over-year last month.
Nevertheless, Toronto's real estate board on Monday took another swipe at the stress tests for uninsured homebuyers that took effect at the start of last year, and weighed down housing markets in the process.
"While sales were up year-over-year in April, it is important to note that they remain well below April levels for much of the past decade," said TREB Chief Market Analyst Jason Mercer in a release. "Many potential homebuyers arguably remain on the sidelines as they reassess their options in light of the OSFI-mandated two percentage point stress test on mortgages."