US mortgage rates remain flat
Mortgage rates in the US remained stable last week, posting only minor changes and encouraging more home owners to refinance current home loans.According to a weekly Mortgage Bankers Association report, the average interest rates on both 15- and 30-year fixed-rate home loans changed by only a...
Continue Reading • 24 Mar 2011
Li Ka-Shing's REIT may get 28b yuan market cap
Li Ka-Shing’s real estate investment trust (REIT) has begun to gauge investors’ interest in Hong Kong’s first yuan-denominated initial public offering (IPO).Called Hui Xian, the REIT will sell approximately 2.7 billion current shares (40 percent of the company) in the IPO,...
Continue Reading • 24 Mar 2011
FSA, UK to allow interest-only loans
The Financial Services Authority (FSA) in the UK said it will not ban interest-only housing loans in its business plan for 2011 to 2012.In October 2009, the regulator proposed significant reforms to the UK mortgage market, which included banning “self-certification” mortgages and...
Continue Reading • 23 Mar 2011
Larger bonuses unable to satisfy execs
Results of the recent eFinancialCareers Global Bonus Survey revealed that Singapore-based finance professionals received a 13 percent increase in their average bonus for 2010, compared with 2009. While 53 percent of the respondents indicated that their bonus was higher than in 2009, only 45...
Continue Reading • 23 Mar 2011
New uncertainties could affect global growth
Finance Minister Tharman Shanmugaratnam warned that major uncertainties across the world could significantly dampen global growth.While most market analyses saw limited impact on global and regional economies after the Japan crisis, the Minister said the triple disaster in Japan, coupled with the...
Continue Reading • 22 Mar 2011
Freddie Mac extends mortgage lending contract
In an attempt to stimulate more housing loan lending, Freddie Mac has extended its eight-year contract with independent banks, enabling over 5,000 lenders more access to funds for additional home loans.The programme is aimed at independent community banks, which are facing restrictive lending...
Continue Reading • 22 Mar 2011
Inflation climbs to 5.9% in February
Inflationary threats are definitely increasing and food inflation has also been rising steadily, said DBS, adding that inflation surged to 5.9 percent in February this year.During the Lunar New Year, retailers seized the opportunity created by heightened demand for food products to increase their...
Continue Reading • 22 Mar 2011
Low-interest mortgages for first-time home buyers in Australia
Low-interest mortgages for first-time home buyers in Australia could be in demand, after it was revealed that Australian home prices are expected to decrease this year.Mortgage brokers have informed the East Torrens Messenger that individuals who were unable to purchase homes last year may now...
Continue Reading • 21 Mar 2011
Jones Lang LaSalle donates US$1.25m to Japan
Global real estate services firm Jones Lang LaSalle (JLL) announced that it has donated 100 million yen (about US$1.25 million) to the Japanese Red Cross to provide aid and relief to the victims of the massive earthquake and tsunami in Japan. “Our donation is meant as an earnest statement...
Continue Reading • 21 Mar 2011
Singapore is most enterprising Asian economy
Well-known for the multinational companies (MNCs) that rule the country’s economy, Singapore lags behind other Asian economies such as Taiwan and Hong Kong when it comes to entrepreneurship, as shown by previous studies and surveys.However, recent research has proven otherwise. A study...
Continue Reading • 21 Mar 2011
Japan crisis sees US mortgage rates fall
Mortgage rates in the US fell this week, as many investors jittery about the crisis in Japan rushed to purchase US Treasury bonds, according to Freddie Mac.“With the crisis in Japan, investors rushed to buy the security of US Treasury bonds, which lowered its yields and other interest rates...
Continue Reading • 18 Mar 2011
CB Richard Ellis among Fortune's most admired companies
CB Richard Ellis Group Inc. (CBRE) has been included in the annual list of the most admired companies in the United States real estate industry.Compiled by Fortune magazine, the survey is one of most definitive report cards on corporate reputations that cover 57 industries, with CBRE topping the...
Continue Reading • 17 Mar 2011
OCBC's London housing loans a hit
Increasing interest in the London residential property market has buoyed demand for OCBC Bank’s new loan package, which gives hopeful home owners an opportunity to borrow in either British pounds or Singapore dollars.OCBC introduced the scheme in August last year and the volume of received...
Continue Reading • 17 Mar 2011
Home buyers to receive early price list
The Urban Redevelopment Authority (URA) will be enhancing the Housing Developers Rules (HDR) and the Housing Developers (Control & Licensing) Act (HDCLA) to give more home buyers better access to timely information about the market and units which they are planning to purchase, said Minister...
Continue Reading • 17 Mar 2011
Asian REITs market strengthened in H2 last year
Asian Real Estate Investment Trust (REIT) markets intensified in the second half of last year, as purchasing activity increased and interest in Initial Public Offerings (IPO) strengthened, according to the 2H 2010 edition of REITs Around Asia released by CB Richard Ellis (CBRE).A total of US$5.6...
Continue Reading • 17 Mar 2011
Unexpected hike in Aussie mortgage arrears
The Fitch Ratings quarterly Dinkum Index shows that delinquent mortgages in Australia jumped from 1.3 to 1.37 percent in Q4 last year.The increase was attributed to the growing number of people who were already one or two months behind on their home loans, which resulted in serious arrears of 90...
Continue Reading • 16 Mar 2011
DMG reviews REITs affected by Japan quake
DMG Research has pegged Saizen real estate investment trust (Reit) one of the most affected Singapore-listed companies to emerge from the recent earthquake to hit Japan.Saizen has 22 of its 146 properties in Japan located near the epicentre of the tsunami in Sendai.“In total, all six...
Continue Reading • 15 Mar 2011
Hong Kong's mortgage increase dampens sales
Sales of Hong Kong flats dropped after two major mortgage lenders decided to raise their interest rates for HIBOR-based mortgage plans.According to the latest HIBOR-based data, HSBC’s loan rate rose between 1.17 and 1.57 percent, from 1.07 and 1.27 percent, while the Bank of China (HK) has...
Continue Reading • 15 Mar 2011
UK mortgage lending continues to fall
Mortgage lenders in the UK advanced 26 percent less funding for home purchases in December compared to the previous month, a sharp decline attributed to greater uncertainty in the market.The Council of Mortgage Lenders (CML), which released the data on Friday, noted that purchasers may have been...
Continue Reading • 14 Mar 2011
Singapore ranked top for mergers and acquisitions in SE Asia
Singapore has been ranked the most targeted nation for mergers and acquisitions (M&A) in Southeast Asia, with a total M&A volume of US$4.5 billion, or about 40 percent of the total M&A volume in the region, according to Dealogic.The global investment banking and capital markets...
Continue Reading • 14 Mar 2011