Mortgages

British housing market slows as mortgage approvals sag to nine-month low

The British mortgage market fell to its weakest in nine months in June, with approvals for house purchases now 9.3 per cent lower than their peak in …

Business (UK)

Home Capital repays $2-billion line of credit from Buffett’s Berkshire Hathaway

Home Capital Group, the Toronto-based alternative mortgage lender that was on the verge of collapse earlier this year, says it has repaid a $2-billion line of credit from Berkshire Hathaway.<p>The company was given the financial lifeline last month by Berkshire Hathaway, which is headed by Warren …

Berkshire Hathaway

Canada is uniquely primed for a housing bust

Canadian Finance Minister boasts about crony capitalist bailout of collapsed mortgage lender. But his assumptions might be wrong.<p>“Just like I said, a back door bailout in exchange for something down the line. Very very dirty,” tweeted Bay Area short-seller Marc Cohodes in response to Canadian …

Canada

Need Money to Buy Land? Here Are Several Ways to Borrow.

• A small loan amount, resulting in lower payments and a property that is most likely easier to sell.<p>No Plans to Develop<p>If you’re going to buy land …

Personal Finance

Newly Released Documents Show Government Misled Public on Fannie/Freddie Takeover

While Russiagate rages, the bitter fight over the future of the real estate market continues<p>In August 2012, a few months before Barack Obama told …

Government

Lowest mortgage rates in a month barely boost weekly applications, up 0.4%

Mortgage rates moved decidedly lower last week, but neither homebuyers nor homeowners were particularly impressed. Total mortgage application volume …

San Antonio, Texas

The Worst Reasons to Buy a Home

Pursuing homeownership is something that is ingrained in our culture, to the point that owning a home is considered an integral part of the American …

Personal Finance

Westpac and Suncorp set to hike fixed rates by 31 basis points despite inflation cooling

by Duncan Hughes<p>Westpac Group and Suncorp are set to announce mortgage rate increases of up to 31 basis points, despite a surprise cooling of …

How to avoid student debt disaster: Our guide explains all

Around 320,000 18-year-olds have applied to go to university in the UK this year - one in three. According to the Institute for Fiscal Studies they …

Personal Finance (UK)

Two high-yielding dividend stocks that just went on sale

<i>John Heinzl is the dividend investor for Globe Investor’s</i> Strategy Lab<i>. Follow his contributions</i> here<i>. You can see his</i> model portfolio here<i>.</i><p>When a store has a sale, customers come rushing.<p>But when a stock goes on sale, many investors do the opposite: Worried the price will continue to drop, they …

Stocks

How to Calculate Your Home Equity—and Why It Matters

WE’VE ALL DONE IT—that mental calculation where you try to figure out how much you’d clear if you were to sell your house and pay off your mortgage. But it can be more than just an idle exercise. Even if you never sell your home, the equity you have in it can help you pursue important personal …

Lines of Credit

ACT Liberal leader discloses links to Colliers head amid land development inquiry

Liberal Leader Alistair Coe has disclosed his wife's family's friendship and business links to the principal of Colliers International in Canberra, …

Brisbane

Labour corrected themselves on childcare costs. But even the correction is wrong.

Jeremy Corbyn issued the following tweet today: “As school holidays start today, many will struggle to meet childcare costs, which have doubled under …

UK News

Virgin Money echoes history in credit caution

It is almost 10 years to the day since the Bank of England was first alerted to problems at Northern Rock. Just weeks after the governor knew, so did …

UK News

Three RBC funds that keep the focus on cash flow and minimizing risk

<i>Gordon Pape is editor and publisher of the Internet Wealth Builder and Income Investor newsletters. For more information and details on how to subscribe, go to buildingwealth.ca.</i><p>I recently received an e-mail from a reader who is trying to evaluate the RBC Managed Payout Solution mutual funds for an …

The new Canada Child Benefit: Difference-maker or dud?

The first Canada Child Benefit payments were sent out just about a year ago. Have families noticed any difference in their finances as a result of this signature promise from the Liberal platform in the last federal election campaign?<p>To find out, I asked members of my Facebook personal finance …

Retirement

Picks from among new breed of ETFs

Exchange-traded funds have surged in popularity thanks to their low fees and ability to trade like stocks. But mutual fund companies and other investment firms have jumped into this market with similar offerings.<p>These new ETFs are managed by human stock-and-bond pickers who aim to outpace their …

Finance

Toronto, Vancouver home sales slow, but don’t expect prices to follow

Housing sales figures may be declining in Toronto and Vancouver, but with listings remaining scarce, economists are warning that significant gains in …

Real Estate

At midday: TSX rises as commodity price gains boost resource stocks

Canada’s main stock index gained on Tuesday on the back of higher commodity prices that boosted its natural resources companies, while banks and insurers also added support as bond yields rose.<p>The energy group climbed 2.2 per cent as oil prices jumped in the wake of a Saudi vow to reduce exports, …

Markets

Bank of Japan newcomers back 2% price goal

The two new members of the Bank of Japan’s policy board said on Tuesday that the central bank should continue efforts to achieve its 2 per cent inflation goal and it was premature to debate an exit from its massive monetary stimulus.<p>Goushi Kataoka, a 44-year-old former economist at Mitsubishi UFJ …

Business

This Company Is About To Transform The $1.5 Trillion Mortgage Industry

Shutterstock<p>In its first year Better mortgage made over $525 million in loans, which is the largest amount by a fintech company in its first year post launch. Backed with more than $45M from investors like Goldman Sachs and Kleiner Perkins, the company is on a mission is to eliminate the …

FinTech

Canada's Dollar Has Rallied 10% In Two Months. The Housing Market Lurks, Waiting To Snuff It Out

The Canadian dollar is on a tear. It extended its 10% two-month rally above 80 U.S. cents yesterday for the first time since 2015 on the same day an International Monetary Fund report said among G-7 economies, the global development agency is most optimistic about Canada’s.<p>Shifting investor …

Bank of Canada

Paying for Longevity With Reverse Mortgage Payments | Investopedia

Recently I had a fellow advisor ask my thoughts on his clients using a HECM to create better retirement efficiencies. The clients were ages 65 and 70 …

Personal Finance

Toronto Condo Prices Soar 28%, Pass Half-Million Mark

Forget single-family homes: Even condos are moving out of affordability range for Toronto's middle class.Despite the slowdown in the broader market, …

Canadian News

HUD Ignored Procedures in Selling Distressed Mortgages, Report Says

A federal housing agency that sold 108,000 distressed mortgages to private equity firms and hedge funds did so without following the proper rules for setting up the program, a government audit has found.<p>A federal oversight agency says that the Department of Housing and Urban Development sold the …

Business

Here’s what it looks like when the foreclosure ‘pig’ moves through the housing-crisis ‘python’

As the effects of the housing crisis further recede, markers of distress are declining, with one notable exception: Among the batches of severely delinquent mortgages bought by institutional investors, foreclosures are on the rise.<p>The trend is a reminder of the reasons many community advocates …

Fannie Mae

Uganda: Museveni Approves U.S.$2.9b Loan for Malaba-Kampala Railway

President Yoweri Museveni's approval for borrowing $2.9 billion for the construction of the standard gauge railway from the Malaba border with Kenya …

Africa

Are you overpaying on your mortgage? How deals on remortgages can potentially save homeowners a fortune

Looking to remortgage but not sure how to go about it? Online mortgage broker Trussle has you covered, making sure you get the right mortgage deal …

Money

5 Signs You’re About to Buy a Home You Can’t Afford

Purchasing a home is a tumultuous process — one that can be exciting and hopeful at times, frustrating and disappointing at others. Those ups and …

Personal Finance

Four reasons why UK equity release mortgages will boom

The UK’s vast £1.3tn mortgage market is awash with startling numbers. Mortgage rates now start from as little as 1 per cent. And the £245bn borrowed …