Housing markets
Bank of Canada warns of possible housing pressures
BoC research highlights “vulnerabilities” as banks issue more high loan-to-income mortgages
RBNZ to support government housing objectives
New Zealand finance minister changes central bank’s monetary and financial policy remits
ECB paper analyses US home ownership
Labour market dynamics and rising house prices account for generational inequality, researcher says
House price distortions slow European growth – Estonian paper
Misaligned prices amplify business cycles in short run but damage growth over long run – researchers
Atlanta Fed creates new mortgage tool to track forbearance
Dashboard will provide policy-makers with data on which regions are using forbearance in response to Covid-19
RBNZ to re-impose loan-to-value limits from March 2021
Central bank records increase in mortgages granted to high-risk lenders
RBI adapting to ‘increasingly complex web’ of non-banks
Deputy governor highlights “significant change” to RBI’s regulatory approach
Frank Smets on the ECB’s strategy review
The ECB’s DG of economics explains how expectations, communication, fiscal dominance, climate change and the Fed’s actions will be factored into the ECB’s delayed strategy review
LTV ratios need reform, ECB paper argues
Macro-prudential tools must now apply to real estate funds financed by non-bank loans – researcher
US consumers expect more fiscal support – New York Fed survey
Consumers assigned a 40% chance of more federal welfare benefits in next 12 months
Lower refinancing can dampen economic recovery – Fed research
US mortgage refinancing activity remained muted after falling during 2008 crisis, researchers find
RBNZ lifts mortgage lending restrictions for one year
New Zealand's central bank says latest crisis move will not weaken financial resilience
US default rates could hit 8.1% without policy action – Richmond Fed
Loan forbearance policies could see this drop to “essentially zero” in 2021, researchers say
Cares Act a very good start, but US may need bigger fiscal response – Rosengren
Boston Fed president warns pandemic could have significant impact on real estate market
Bank of Canada steps up Covid-19 response
Bank widens eligible repo collateral, tweaks monetary framework and unveils mortgage market measure
Dutch economy more volatile than European peers – DNB research
Changes to pension system, mortgage markets and budgets could reduce volatility, paper argues
Canadian mortgage tweaks may add to housing imbalances – economists
Government’s policy change likely to lower qualifying hurdle for mortgages in the near term
Some countries’ macro-pru measures have reduced systemic risk – IMF paper
Denmark and Czech Republic particularly successful in cutting mortgage risk, researchers find
International investors shaping housing markets – DNB paper
External investment playing larger role but national differences still significant, paper says
German house prices rise by slowest rate since 2014 – Bundesbank
Housing prices continue to rise but at slower rate, especially in major cities
Credit-fuelled construction booms lead to busts – IMF research
Credit booms that lead to rapid growth in construction more likely to end in crisis, researchers find
DNB to tighten macro-pru over real estate fears
EBA says Dutch central bank fears overheating after house prices in large cities exceed previous peak
Paper takes ‘Hank’ approach to eurozone policy transmission
Authors identify three key dimensions of household heterogeneity
ECB largely welcomes move to expand German macro-pru powers
ECB says measures giving BaFin greater powers are “appropriate”, but need better data