May 4, 2023
US Homeowners Hold Near-Record Equity Even After Price Declines
The share of US homes that are equity-rich dropped slightly in the first quarter of this year, but remained close to historic highs, according to new data from ATTOM.
Some 47.2% of mortgaged homes were equity-rich — meaning that the borrower holds at least half the equity — in the January-March period, down from 48% the previous quarter, a report published Thursday by the property data provider shows.
ECB Vows More Hiking to Come After Slowing Tightening Pace
Officials on raised the deposit rate by a quarter-point to 3.25%, following three steps of double that size. The announcement matches the expectations of traders and most economists, leaving the rate at its highest level since 2008.
China Two-Speed Economic Recovery Fuels Concerns on Outlook
China’s economic recovery showed further signs of imbalance, with manufacturing activity contracting for the first time in months while a surge in holiday travel fueled consumer spending.
The China Caixin manufacturing purchasing managers index dropped to 49.5 last month from 50 in March, pointing to a contraction in factory output for the first time since January, Caixin and S&P Global said in a statement Thursday.
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.