Category: Mortgages

India’s property slump leaves beleaguered banks exposed – The Globe and Mail

While the Indian banking system could be hit by billions of dollars of additional soured debt, the cash crunch in the housing market has levied a toll in human misery. Francis Mascarenhas/Reuters India might have thought the worst of a bad loans crisis was past, but a severe cash crunch in the real estate industry…

U.S. taxpayers at threat for homes threatened by environment change

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Repo-market ructions were a reminder of the financial crisis

FOR ANYONE who lived through the global financial crisis, trouble in the market for repurchase agreements, or repos, induces a cold sweat. During the week of September 16th the repo market—the epicentre of the crisis 12 years ago—ran short of liquidity, forcing the Federal Reserve to intervene suddenly by injecting funds. By the following week…

Polish banks haunted by Swiss franc mortgages in European court

By Marcin GoclowskiWARSAW (Reuters) – Europe’s highest court will rule next week whether a bank in Poland broke the law by selling homeowners a Swiss franc mortgage, potentially unleashing lawsuits which could wipe out Polish banking profits for years to come.It is nearly two decades since 700,000 Poles, attracted by interest rates far lower than…

The Fed is expected to cut interest rates, here’s what that means for you

The U.S. Federal Reserve cut interest rates by a quarter of a percentage point on Wednesday, which will directly affect people’s mortgages, car payments and the economy in general. “Today, we decided to lower interest rates,” Federal Reserve Chair Jerome Powell said in a news conference. “We took this step to help keep the U.S.…

Trump’s California visit, Greta Thunberg appears before Congress: 5 things you need to know Wednesday

Editors, USA TODAY Published 2:39 a.m. ET Sept. 18, 2019 | Updated 6:14 a.m. ET Sept. 18, 2019CLOSEDay 2: Trump heads to San Diego amid California backlashAfter a fundraising luncheon in Palo Alto on Tuesday and a fundraising dinner in Beverly Hills, President Donald Trump is heading to San Diego Wednesday for another fundraising luncheon following a…

Taxpayers at risk for U.S. homes threatened by climate change

Banks are selling mortgages on homes in coastal areas around the U.S. that are vulnerable to natural disasters to Fannie Mae and Freddie Mac, a study finds.That could leave taxpayers footing the bill because the two government-sponsored enterprises buy the mortgages without adequately accounting for the heightened property risks.”Climate change could lead to a ‘Big…

The Tell: Pimco mindful on stocks and credit as global economy goes into ‘window of weakness’

Investors should take a cautious approach to stocks and credit, while looking to avoid macroeconomic risks as the global economy enters a low-growth “window of weakness” that’s likely to run into 2020, asset manager Pimco said Thursday. Summing up the findings of the Newport Beach, Calif.-based firm’s mid-September Cyclical Forum, Joachim Fels, Pimco’s global economic…

Zillow partners with home builders to expand home-buying business

Zillow ZG, -0.99%  wants to make buying a new home and selling an existing one as easy as trading in a car. The real-estate listing website has inked partnerships with multiple home builders that will allow home buyers who buy a newly constructed home from one of the builders to sell their current house directly…

Michael Bennet Tries to Break Through With Affordable Housing Plan

Democratic presidential candidate Sen. Michael Bennet is angling to get voters’ attention—and boost his idling presidential campaign—by taking on one of Americans’ most visceral concerns: the rent is too dang high. Bennet, the U.S. Senator from Colorado, unveiled a plan Thursday that would tackle the national housing shortage, saying he would invest in building millions…