UK home owners’ equity is still increasing- Bank of England

UK home owners increased the value of their investment in properties by £22.3bn last year according to new Bank of England research.

They reflect continued decisions by homeowners to pay off more of their mortgages, and lenders’ insistence that borrowers put down larger sized deposits.

The trend towards equity injections started in the second quarter of 2009. [...]

Taxman targets property profits

Home owners who have failed to declare their capital gains could soon be facing bills running into tens of thousands of Pounds.

HM Revenue & Customs (HMRC) is trawling Land Registry data to identify taxpayers who have bought and sold properties but failed to disclose disposals in tax returns, according to research by accountants UHY Hacker [...]

US home sales see steep drop in December

Sales of existing US homes fell 16.7% in December, according to the National Association of Realtors (NAR).

Sales had risen from September to November as first-time buyers took advantage of tax credits.

The decline in December was expected as buyers rushed to complete deals before the original 30 November deadline.

The first-time buyer tax credit has since been [...]

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Wall Street lower on gloomy data

US investors opt to take profits on release of disappointing data and as Bernanke warns that America must curb its budget deficit.

Gloomy housing sector data and continued layoffs led to a subdued Wall Street opening as investors played safe with their profits after a succession of session gains.

Investors were also reacting to a warning from [...]

US Loans markets defy FED as Treasury yields spike

The US Federal Reserve Board (FED may soon be forced to launch fresh blitz of quantitative, or risk seeing economic recovery snuffed out by the latest surge in long term borrowing costs.

Yields on 10 year Treasury bonds have risen relentlessly since March when the Fed first announced its plan to buy $300bn (£188bn) of US [...]

US economy facing substantial risks

The US economy is still facing “substantial risks” as the property bust spreads to commercial real estate and the recession engulfs the world, a top White House adviser has said.

Larry Summers, chair of the National Economic Council, said there were signs that worst may be over but warned that “it is a long road and [...]

Fed shock the markets with a bumper $1.15 trillion stimulus plan

The Federal Reserve shocked the market with a $1.15 trillion boost for the US economy.

The funds will be used to buy government debt and to liquidate Fannie Mae and Freddie Mac.

The Fed kept interest rates on hold at 0-0.25 % as expected, however the sheer scale of the plans surprised the markets. $300 billion will [...]

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