Housing markets
Macro-pru mortgage limits were successful – RBA research
Central bank rates performance of policies implemented to cool risks in the housing market
Bank of Italy paper uses agent-based model of housing market
Limits on borrowing are effective but not currently needed for Italian housing sector
Danish central bank may tighten house lending rules
National Bank of Denmark recommends that FSA reimpose countercyclical buffers
Bank of Canada voices concern over house prices
Financial regulator imposes minimum rate on new uninsured mortgages
Book notes: The handbook of China’s financial system, edited by Marlene Amstad, Sun Guofeng and Xiong Wei
An important, comprehensive and informed overview of the current state of the Chinese financial system
BoE paper highlights link between mortgage limits and consumption
Authors find “new link” between down payment requirements and household consumption
Dallas Fed chief wants to talk about tapers
Comments may indicate split at Fed, though FOMC remains committed to asset purchases
Black applicants face US mortgage discrimination – Philadelphia Fed paper
Lower approval rate cost Black Americans more than $200 billion between 1994 and 2018
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