Inland Revenue is cracking down on residential property investors who have sold without paying tax on the profits. The department is matching tax returns with property transactions and is contacting who might be affected and asking tax advisers to do the same. KPMG tax partner Paul McPadden said the crackdown was no surprise in the […] Read more
Homebuyer demand had mortgage lenders incredibly busy over the summer, but that may have peaked. Mortgage applications to purchase a home, which had fallen for four straight weeks, were essentially flat last week, rising just 0.2%, according to the Mortgage Bankers Association’s seasonally adjusted index. Refinances helped to push total mortgage application volume up 1.7% […] Read more
The European Central Bank has been leading the push to stimulate Europe’s economy, keeping the cost of borrowing for local businesses and households low. But some now say its financial toolkit is almost empty. This is important for Small and Medium Enterprises, which represent more than 99 per cent of all European non-financial companies. They […] Read more
Mortgage rates are turning higher again, and that was likely behind a major surge in mortgage application volume last week. This often happens at the start of a rising rate cycle, as borrowers realize rates may have hit bottom and rush to get in before they move even higher. Total mortgage application volume rose 9.6% […] Read more
Democratic presidential contender Pete Buttigieg unveiled plans on Friday to invest more than $1 trillion in child care and affordable housing over the next decade as part of a package of proposals targeting the middle class. The South Bend, Indiana, mayor also provided more details on how he would lower the cost of college, saying […] Read more
Celebrating its 30th year, Duane Johnson Real Estate is a locally owned and globally connected real estate brokerage in Cannon Beach. Established in 1990 by Johnson with the intent of exclusively serving the real estate needs of the Cannon Beach and Arch Cape areas, this year saw the agency move to the next level with […] Read more
After rising the previous week, interest rates fell back again last week, but consumers were not enthused. Overall mortgage application volume fell 1.9% for the week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was still 34% higher than a year earlier, thanks to a stronger refinance market this year. The average contract […] Read more
According to global real estate consultant JLL, although the US-China trade war has cast a shadow over Hong Kong’s economy, the industrial property market continues to be a bright spot. Driven by expansion requirements from logistics companies, demand for industrial property remained largely intact in May with several large transactions being recorded. In the leasing […] Read more
The net profit margin outlook for mortgage lenders moved into positive territory in the second quarter for the first time in three years, according to Fannie Mae’s quarterly Mortgage Lender Sentiment Survey. Mortgage rates are now down dramatically from the highs of November. The average rate on the 30-year fixed for conforming loan balances was […] Read more
California Gov. Gavin Newsom, in his revised state budget, proposes a record $213.5 billion spending plan for the next fiscal year — that’s a 2% increase over his January budget. But the Democratic governor cautions about an inevitable recession and estimates the next downturn could result in a $70 billion hit to California’s coffers. Newsom’s […] Read more
