Carney: House price boom set to end in 2016 January 18, 2014 BANK of England governor Mark Carney expects the recent surge in the property market to cool by 2016, as figures today confirm that house sales have returned to levels last seen in early 2008. The governor said that he is projecting “a continuation of the current momentum into 2014, before decelerating around the middle of [...]
Carney: House price boom set to end in 2016 January 15, 2014 BANK of England governor Mark Carney expects the recent surge in the property market to cool by 2016, as figures today confirm that house sales have returned to levels last seen in early 2008. The governor said that he is projecting “a continuation of the current momentum into 2014, before decelerating around the middle of [...]
Fix your mortgage rate right now, says Bank of England’s Sharp January 15, 2014 Deciding between a fixed or floating rate mortgage is always a tough decision and a bit of a gamble either way. But in the clearest sign yet that interest rates are on the way up, the Bank of England’s Richard Sharp has just told MPs he would be tempted to fix right now. “We have [...]
Soaring mortgage numbers renew fears of bubbly housing market January 15, 2014 (Laura Lean/City A.M.) The latest housing data is enough to fuel concerns that a "new housing bubble could develop in 2014", says IHS Global Insight's Howard Archer. Council of Mortgage Lenders (CML) figures show mortgage numbers rising by 14.9 per cent in the year to November. There's a more troubling surge among first-time buyers. They [...]
Wells Fargo profits up despite steeper rates January 14, 2014 THE END of super-cheap mortgages hit Wells Fargo’s revenues in the final quarter of last year, the US bank has said, as higher rates meant fewer customers remortgaging. The Federal Reserve’s tapering has started to impact on mortgage interest rates, as it slowly removes its stimulus as the economy grows. However, Wells Fargo cut staff [...]
Best of the Brokers for 14 January 2014 January 13, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BAE SYSTEMS UBS analysts are upbeat on BAE, highlighting it as their favourite pick from the European aerospace and defence sector. They have a “buy” rating on the stock and hiked their target price from 475p to 510p, citing a likely Saudi price [...]
Fall in homes for sale boosts prices further January 13, 2014 LONDON’S house prices jumped again in October, according to data out today from Hometrack, as supply of homes dropped but demand kept on rising. Nationally prices increased by 0.5 per cent in the month, with London leading the way at 0.8 per cent. That means that over the last 12 months London’s prices have risen [...]
Business lending to boom as UK recovery takes hold January 12, 2014 LENDING is set to rise in every area of the economy, analysts at EY forecast today, as the recovery finally gives banks the confidence to supply more credit. No other European country’s bankers have so much confidence, the study found, underlining the strength of the recovery in Britain. Firms of all sizes and sectors in [...]
What the other papers say this morning – 13 January 2014 January 12, 2014 FINANCIAL TIMES Treasury debt pledge on Scotland The UK Treasury will today assume full responsibility for Britain’s £1.2 trillion debt stock in the event of Scottish independence, in an attempt to head off market jitters ahead of September’s referendum. Danny Alexander, Treasury chief secretary, fears gilt investors could start demanding a risk premium in the [...]
A recovery built on bricks and mortar January 12, 2014 Bovis chief executive David Ritchie tells Elizabeth Fournier why he’s not concerned about a new UK housing bubble THE LAST 12 months have been good ones for Britain’s housebuilders. After a financial crisis that saw billions wiped off the sector as credit dried up and house prices crashed, 2013 saw a return to form as [...]