BBA: Mortgage approvals leap as buyers race interest rate hike October 26, 2015 The number of mortgage approvals leaped 24 per cent in the year to September, figures published this morning showed, suggesting buyers are racing to secure mortgages before interest rates are hiked. The figures, by the British Bankers' Association, showed gross mortgage borrowing in September rose to £12.1bn, 17 per cent higher than a year ago. [...]
UK house prices at their most affordable in 13 years… but not for Londoners October 26, 2015 HOMES in England and Wales are at their most affordable in 13 years, new research from Hamptons International claims, as households benefit from rising incomes and lower cost of goods. The estate agent’s latest Ability to Buy index increased by two per cent year-on-year in the second quarter to bring it to its highest level [...]
Bank of England’s Mark Carney on interest rate rise: 4pc of mortgage holders vulnerable to hike October 25, 2015 Bank of England governor Mark Carney has said Britain should be prepared for interest rates to be hiked, but it was by no means certain that the historically low rate would be raised. He warned that there were households at risk due to large amounts of debt – as many as four per cent of mortgage [...]
UK house prices: Deutsche Bank calls time on London prime property party October 22, 2015 Analysts at Deutsche Bank have called time on London’s prime property “party” in a scathing note that warns the boom of the past 30 years is a thing of the past. In the latest edition of its Konzeptmagazine, released yesterday, Deutsche Bank’s Sahil Mahtani argues that a looming interest rate hike, the Bank of England’s [...]
Mortgage lending rises sharply in September for the fourth month in a row October 22, 2015 The amount of mortgage lending to UK homebuyers jumped by 12 per cent in the year to September as rising employment and earnings growth helped keep confidence levels high. Gross mortgage lending reached £20bn in September, up from £17.8bn the same time last year and two per cent higher than August’s lending total of £19.7bn, [...]
Best of the Brokers for 19 October 2015 October 18, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com The miner’s third quarter results were “modestly disappointing”, analysts at Canaccord Genuity said, with reduced full year production guidance in alumina, diamonds and titanium dioxide feedstock. Iron ore shipments, mined copper production and aluminium were all below Canaccord forecasts. The analysts held their [...]
Housing stocks may benefit from new data – New York Report October 18, 2015 HOUSING stocks could be in for a boost if September data due out next week confirms strength that market watchers expect. Home buyers returned from summer vacations to lower mortgage rates and increasing rents, and may have moved back into the market after staying away in August. Shares in the sector fell in mid-to-late September after August [...]
London house prices: Prime central property prices will drop this year, but the cool-down won’t last long, says Savills October 15, 2015 The price of London’s prime property will decline in price this year on the back of last 2015's stamp duty reforms, but they will climb by a whopping 21.5 per cent over the next five years, an estate agent has predicted. Prime central London property prices, which average at around £5m, will drop two per cent this [...]
Bank of America Merrill Lynch reports a $4.5bn profit despite market chaos and low rates October 14, 2015 Bank of America Merrill Lynch (BoAML) reported its net income for the three months to the end of September rose to $4.5bn (£2.9bn), after making a loss of $232m in the same period in 2014. Net income decreased from $5.3bn in the previous quarter, as did diluted earnings per share, which were $0.37, down from $0.45 in [...]
JPMorgan reports third quarter profits up 22 per cent due to tax benefits October 13, 2015 JPMorgan Chase & Co. has reported third quarter profits rising 22 per cent due to $2.2bn (£1.44bn) in tax benefits. The company said in a statement that the quarter reflected the tax benefits "due to the resolution of tax audits and the release of deferred taxes". Net income rose 22 per cent to $6.8bn from [...]