Hints and tips:
...A servicing company placed the loan on watch for possible default — although the Trumps have remained current on their payments....
...What is more, many Asian, Latin American and central European countries have superior debt servicing ratios to developed markets. We wrongly think the lot are basket cases. Far from it....
...Also among the big winners were retailers such as Home Depot, Lowe’s and other purveyors of big-ticket goods....
...So that leads to a fourth key point: the recent bond falls are putting a spotlight on the behaviour of non-American investors....
...A wave of upcoming mortgage renewals at much higher interest rates is expected to add thousands of dollars to monthly mortgage costs in areas such as Toronto and Vancouver, where the average home costs more...
...Lowe’s: Investors will be keen to learn whether the home improvement retailer is experiencing similar consumer activity to competitor Home Depot, which recently warned that elevated inflation and mortgage...
...Domestic reports abound of household pain, exacerbated by the country’s use of floating-rate mortgages, which the RBA reckons make up more than 60 per cent of home loans....
...Tommy StubbingtonWhich means that a lot of people that were landlords and had mortgages to buy second homes and then let them out, they can’t afford to do that anymore....
...In the UK, almost 85 per cent of all mortgage loans were at fixed rates at the end of last year but the percentage for new home loans was almost 95 per cent, data from the Bank of England and Financial Conduct...
...It had relied on making home loans using cheap funding from customers who were offered lower mortgage rates in exchange for putting large deposits into accounts that paid little or no interest....
...Before mortgage rates started rising in the US this year, many families took the chance to buy homes beyond San Francisco, abandoning the city’s punishing rental market....
...[MUSIC PLAYING] The Fed’s moves have pushed up mortgage rates in the US to 14-year highs. And as the cost of home loans go up, home sales are going down....
...Given all that has been thrown at them, including rising mortgage rates, Home Depot’s customers have been “incredibly resilient”, the DIY chain remarked as it reported record sales....
...I suppose the big question for lots of us sitting here who are lucky enough to own our own homes is what it will do to mortgage rates. Katie Martin I’ve got one year until I renew my mortgage....
...It was once home to Dornier, which built Luftwaffe bombers in the second world war, and was later occupied by the US Air Force....
...Yet the pullback in the shares of Home Depot and Lowe’s this month suggests investors think the pandemic boom in home spending cannot last. They should hold their nerve. The numbers still look good....
...As always, reach out to me (imani.moise@ft.com) or Sid (sid.v@ft.com) to share your feedback on today’s newsletter. Happy reading!...
...Ross Walker: There is already a substantial amount of policy tightening in the pipeline (ie, announced Bank rate hikes which have yet to feed through to mortgage debt-servicing costs), so we expect only...
...Share prices of Home Depot and Lowe’s, America’s largest do-it-yourself retailers, have fallen around a tenth over the same period....
...Americans tend to think entitlements are for the poor or elderly, forgetting that the effectively free option to refinance home mortgages is a form of transfer payment for the middle class....
...But for the last decade and a little bit beyond, the Conservative party has been their natural home....
...I've heard this from American officials, myself, as well. And they said that the problem is that there's not necessarily an account in Switzerland saying, V Putin, $50bn Swiss francs....
...Home Depot and Lowe’s this week reported historically large rises in quarterly revenues as housebound Americans spend billions of dollars more than usual at the two go-to chains for DIY....
...The Hampstead mortgage was held by Cox & Kings. People familiar with the matter said Kerkar, his wife and children had lived there....
...“This is being driven by other northern European nations — and some North Americans.”...
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