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Canada’s Mortgage Lenders Have Set Aside a Record Amount for Bad Loans
Canada’s Mortgage Lenders Have Set Aside a Record Amount for Bad Loans It’s odd to see it occur while almost every market reports record home sales. Canada’s real estate markets are booming, but lenders are preparing for mortgage losses. Bank of Canada (BoC) data shows the allowance for credit losses due to mortgages reached a record high […]
It Starts: Mortgage Delinquencies Suddenly Soar at Record Pace
It Starts: Mortgage Delinquencies Suddenly Soar at Record Pace And this is just for April, the very beginning of the Pandemic’s impact on housing. OK, it’s actually worse. Mortgages that are in forbearance and have not missed a payment before going into forbearance don’t count as delinquent. They’re reported as “current.” And 8.2% of all […]
Global Debt Surpasses 244 Trillion Dollars As “Nearly Half The World Lives On Less Than $5.50 A Day”
Global Debt Surpasses 244 Trillion Dollars As “Nearly Half The World Lives On Less Than $5.50 A Day” The borrower is the servant of the lender, and one of the primary ways that the elite keep the rest of us subjugated is through the $244,000,000,000,000 mountain of global debt that has been accumulated. Every single […]
Global Debt Surpasses 244 Trillion Dollars As “Nearly Half The World Lives On Less Than $5.50 A Day”
Global Debt Surpasses 244 Trillion Dollars As “Nearly Half The World Lives On Less Than $5.50 A Day” The borrower is the servant of the lender, and one of the primary ways that the elite keep the rest of us subjugated is through the $244,000,000,000,000 mountain of global debt that has been accumulated. Every single […]
“Severe Collapse” of Home Prices Might Trigger a “Financial-Institution Crisis” in Australia: OECD Frets about the Bank
“Severe Collapse” of Home Prices Might Trigger a “Financial-Institution Crisis” in Australia: OECD Frets about the Bank “The authorities should prepare contingency plans.” The big four banks are too exposed to mortgages. Even if the banks don’t topple, the economy will get hit hard. In its latest report on Australia, the OECD focuses to a […]
Spain’s Supreme Court Flip-Flops on Mortgage Ruling After Just 1 Day Amid Bank Stocks Bloodbath, Legal Shitstorm Erupts
Spain’s Supreme Court Flip-Flops on Mortgage Ruling After Just 1 Day Amid Bank Stocks Bloodbath, Legal Shitstorm Erupts Plunging bank stocks got the Court’s attention, or something. That was fast: Spain’s Supreme Court on Friday flip-flopped on its own ruling announced on Thursday that had sent bank stocks plunging. It started like this: Thursday morning, […]
Even Mortgage Lenders Are Repeating Their 2006 Mistakes
Even Mortgage Lenders Are Repeating Their 2006 Mistakes You’d think the previous decade’s housing bust would still be fresh in the minds of mortgage lenders, if no one else. But apparently not. One of the drivers of that bubble was the emergence of private label mortgage “originators” who, as the name implies, simply created mortgages […]
Next Mortgage Default Tsunami Isn’t Going to Drown Big Banks but “Shadow Banks”
Next Mortgage Default Tsunami Isn’t Going to Drown Big Banks but “Shadow Banks” As banks pull back from mortgage lending amid inflated prices and rising rates, “shadow banks” become very aggressive. In the first quarter 2018, banks and non-bank mortgage lenders – the “shadow banks” – originated 1.81 million loans for residential properties (1 to […]
Collapse of NZ “Guarantor” Puts $300M Deposits for 10K Homes at Risk
Collapse of NZ “Guarantor” Puts $300M Deposits for 10K Homes at Risk Guaranteeing things is an excellent business until it fails suddenly and completely. In the Great Financial Crisis guarantors were wiped out. It’s happening now down under where 10,000 Property Buyers are Caught in the Collapse of Deposit Power. A leading national property finance […]
Here’s How Regulators Are Inadvertently Laying The Groundwork For The Next Housing Crisis
Here’s How Regulators Are Inadvertently Laying The Groundwork For The Next Housing Crisis Only a few weeks ago, we pointed out a remarkable development in the US mortgage market that has significant implications not only for mortgage borrowers, but perhaps the broader economy as a whole: Wells Fargo, formerly America’s foremost mortgage lender, had seen […]
Household Debt Rises By $572 Billion, Ends 2017 At All Time High
Household Debt Rises By $572 Billion, Ends 2017 At All Time High After we first reported last week that US credit card, student and auto debt all hit record highs in December of 2017… … it should not come as a surprise that according to the just released latest quarterly household debt and credit report […]
What Will Rising Mortgage Rates Do to Housing Bubble 2?
What Will Rising Mortgage Rates Do to Housing Bubble 2? Oops, they’re already rising. The US government bond market has further soured this week, with Treasuries selling off across the spectrum. When bond prices fall, yields rise. For example, the two-year Treasury yield rose to 2.06% on Friday, the highest since September 2008. In the […]
The Ticking Time Bomb That Will Wipe Out Virtually Every Pension Fund In America
The Ticking Time Bomb That Will Wipe Out Virtually Every Pension Fund In America Are millions of Americans about to see the big, juicy pensions that they were counting on to fund their golden years go up in flames in the biggest financial disaster in U.S. history? When Bloomberg published an editorial entitled “Pension Crisis […]
Are 100-Year Mortgages Next? Effects of Negative Real Interest Rates on Nordic Housing Bubble
Are 100-Year Mortgages Next? Effects of Negative Real Interest Rates on Nordic Housing Bubble Wage Growth vs. Housing Price Growth By Nick Kamran, an American living in Oslo, Letters from Norway: Historically, central banks throughout Europe had one mandate: price stability. They did not worry about employment or economic growth, only currency integrity. Setting interest rates […]
Next Shoe to Drop on Spanish Banks
Next Shoe to Drop on Spanish Banks “The mortgage ‘floor clauses’ are a fraud.” Thursday, April 7, 2016, could go down in history as a great day for Spanish mortgage holders and a very grim one for many Spanish banks, thanks to a new ruling that the so-called mortgage floor-clauses that were unleashed across the […]
