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British banks and building societies granted 72,645 new mortgages for house purchase in September, the lowest number since July 2020, Bank of England data showed on Friday - though more than economists had expected.
U.S. private payrolls increased more than expected in September as COVID-19 infections started subsiding, boosting hiring at restaurants and other high-contact businesses.
Mortgage applications decreased last week as fewer homeowners sought to refinance their loans, offsetting a modest rise in applications for loans to buy homes.
(Updates with tightening of mortgage lending rules) OTTAWA, May 20 (Reuters) - Canada said on Thursday it would tighten rules on mortgage lending starting next month after the Bank of Canada earlier warned that the hot housing market and high household debt levels had left the economy more vulnerable to economic shocks. The country’s financial regulator and the Finance Department said separately that borrowers of both uninsured and insured mortgages must show that they can afford loans that are the higher of their current rate plus 200 basis points, or 5.25%. That is a tweak to a mortgage s...
(Recasts with comments by Bank of Canada governor) OTTAWA, May 20 (Reuters) - The Bank of Canada said on Thursday that Canada’s hot housing market and high household debt levels had left the economy more vulnerable to economic shocks, but made clear it would not raise interest rates to cool the frenzy. A housing market boom and linked rise in mortgage lending has helped buoy economic growth in the short-term, but they increase the risk over the medium-term, the central bank said in its annual review of financial systems. Despite the intensifying risks, the focus remains on getting the harde...