May 30, 2023
United States:
US Home Prices Climb as Tight Market Collides With Demand Uptick
Home prices rose for a second straight month as buyers returning to the market competed over few homes for sale.
A measure of prices nationally increased 0.4% in March from a month earlier, according to seasonally adjusted data from S&P CoreLogic Case-Shiller.
Europe:
UK Banks Pull Mortgage Deals From the Market as Rates Rise Again
UK lenders are removing mortgage deals from the market again and increasing the rates they charge borrowers for fixed-rate products.
The number of home loan products available in the UK fell more than 3% over the holiday weekend to 5,012 on Tuesday, according to data company Moneyfacts Group Plc. Saturday saw the biggest one-day decline so far this year, with the number of products now at its lowest since March.
Asia:
BOJ to Build Case for Big Move in Latter Half of 2024, BE Says
The Bank of Japan will gradually build a case for a major overhaul of its stimulus framework in the second-half of next year, using the results of a review to support its move, according to Bloomberg Economics.
Governor Kazuo Ueda is aware that the current yield curve control stimulus framework is unsustainable, as it distorts prices, lacks flexibility, needs big purchases of government bonds and leaves the yen vulnerable to speculators, BE’s Taro Kimura wrote in a report released Tuesday.
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