Why mortgage rates may stay higher for even longer

A prime burned lot sitting along the iconic Pacific Coast Highway in Malibu, CA, has hit the market for nearly $5.7 million after the owners calculated that their insurance payout wouldn’t come close to covering the cost of rebuilding. The story of the parcel with 53 feet of direct ocean frontage on Las Flores Beach—a…

Rebecca Oakes, vice-president of advanced analytics at Equifax Canada, said the March to June period usually brings rising non-mortgage debt and falling missed payments, and that this year matched it.   “Consumers remain cautious, particularly around major purchases,” she said, adding that “pockets of growing stress are still evident in some areas.”  Ontario mortgage holders remain the outlier in…

VOE/POS, White Label, Equity, Business Intelligence Tools; Loan Limit Changes From Investors Broker and Lender Products, Software, and Services Ever gone to pick up a prescription only to be told it needs prior authorization? The request leaves the provider’s system and lands in the health insurer’s, but neither system updates the other, so…

“Several regions are now seeing that uptick in momentum carry into summer, as buyers who held back earlier in the year re-enter the market. In many cases, what has kept consumers on the sidelines is not a lack of interest, but a lack of urgency.” Greater Toronto and Greater Vancouver bore the steepest annual declines…

Eurozone September final CPI +3.8% vs +3.8% y/y prelim Prior +3.2% Eurozone September final core CPI +2.5% vs +2.5% y/y prelim Prior +2.4% There are no changes to the preliminary estimates, with euro area headline inflation confirmed to have surged to 3.8% in September. That marks a notable acceleration from the 3.2% estimate in August,…

Decron Properties has acquired a 163-unit property in Los Angeles’ Miracle Mile for $114 million as the firm’s first L.A. deal in nearly two years. The Los Angeles-based investment firm acquired the asset at 5550 Wilshire Boulevard, a residential and retail property developed in 2010, at what Decron described as a substantial discount to replacement…