Mortgages

Canada’s national pension fund struck its first partnership to build and rent out single-family homes in the U.S., joining a rush to capitalize on a housing shortage.

But rising rates and tightening affordability are slowing appreciation rates, Black Knight found in its latest Mortgage Monitor report.

The U.S. Treasury Department will begin developing regulations that could expand reporting requirements for all-cash real estate purchases as part of the Biden administration’s efforts to cut down on global corruption, according to two senior administration officials.

Similarities between the current rate of appreciation and what took place between 2004 and 2006 are mitigated by changes in the housing market.

In November, employment increased by 1.14 million in the household survey but payrolls rose by just 210,000 in the employers survey, the biggest gap since October 2020.

Besides making the deduction permanent, the bill doubles the income threshold for those eligible to claim it.

Axylyum, which recently released information about its first named client, offers an alternative to other forms of risk sharing for private companies originating income-producing mortgages.

Some 75% of the loans, or a count of 38, are partial term interest-only (IO) loans, and just six, or 22.9% of the pool are full-term IO loans. Just one loan, has an amortizing balloon.

Acting Federal Housing Finance Agency Director Sandra Thompson and the Housing Policy Council say the new amounts are not good for affordable housing.

Though unlikely to derail a hot housing market, another surge in COVID-19 cases could cloud the outlook for economic growth, analysts said.