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☆ Major UK lender Halifax pushes up mortgage rates
▼ + stars: | 2023-06-06 | by ( Andy Bruce | ) www.reuters.com time to read: +1 min

LONDON, June 6 (Reuters) - Britain's largest mortgage provider Halifax will ramp up interest rates for new home loans on Wednesday, according to pricing provided to brokers, the latest major lender to do so in response to soaring funding costs. The decision by Halifax, part of Lloyds Banking Group (LLOY.L), comes after rivals like Nationwide Building Society announced hefty increases to mortgage rates. Two-year deals rather than five-year deals are currently popular among borrowers who hope that rates will fall again soon. "This latest increase by the biggest mortgage lender in the UK will spook buyers and sellers alike not to mention those due to re-mortgage in the next few months," Lewis Shaw from broker Shaw Financial Services said. Property website Rightmove said on Tuesday this was the first week since January that rates have averaged 5% or more across all LTV brackets.

Persons: Liz Truss, Lewis Shaw, Rightmove, Andy Bruce, Lisa Shumaker Organizations: Bank of England, Halifax, Lloyds Banking Group, Nationwide Building Society, Shaw Financial Services, Thomson Locations: Halifax

☆ Nova Scotia: Why are wildfires raging in Canada's eastern province?
▼ + stars: | 2023-06-02 | by ( Nia Williams | ) www.reuters.com time to read: +4 min

[1/2] Smoke rises from a wildfire in Hammonds Plains, Nova Scotia, Canada, May 28, 2023 in this screengrab obtained from a social media video. HOW UNUSUAL ARE WILDFIRES IN NOVA SCOTIA? Atlantic Canada received low snowfall this winter, followed by an exceptionally dry spring. Weather forecasts show a period of cooler, wetter air is moving into Atlantic Canada on Friday, providing much-needed relief. The Weather Network's longer-term forecast expects Nova Scotia temperatures to be slightly warmer than normal for the rest of the summer.

Persons: Bill Blair, Michael Carter, Ellen Whitman, Whitman, Nia Williams, Michael Perry Organizations: REUTERS, Public Safety, Atlantic Canada, Halifax, Weather Network, Canadian Forest Service, Atlantic, Thomson Locations: Hammonds Plains , Nova Scotia, Canada, Nova Scotia, Nova, Acadian, Nova Scotia's, Halifax, Hurricane, Atlantic Canada, North America

☆ Explainer: Why are wildfires raging in Canada's eastern Nova Scotia province?
▼ + stars: | 2023-06-02 | by ( Nia Williams | ) www.reuters.com time to read: +4 min

☆ Canada sends military to help battle blazes in Nova Scotia
▼ + stars: | 2023-06-01 | by ( Steve Scherer | ) www.reuters.com time to read: +2 min

[1/2] Smoke from the Tantallon wildfire rises over houses in nearby Bedford, Nova Scotia, Canada, May 28, 2023. Nova Scotia is battling two large fires that are threatening communities on the outskirts of the provincial capital, Halifax. The armed forces would provide equipment and personnel to relieve firefighters "who have been working tirelessly around the clock to protect communities right across Nova Scotia", Blair said. The federal government sent the military to Alberta last month to help battle blazes there and Canada is also getting help from other countries. Some 800 U.S. firefighters have come to battle the blazes, mostly in Alberta, with another 100 are scheduled to arrive in Nova Scotia over coming days, officials said.

Persons: Eric Martyn, Bill Blair, Blair, Justin Trudeau, Steve Scherer, Anirudh Saligrama, Sharon Singleton, Robert Birsel Organizations: REUTERS, OTTAWA, CBC News, CBC, Twitter, Thomson Locations: Bedford , Nova Scotia, Canada, Nova Scotia, Halifax, Alberta, Quebec, Australia, New Zealand, South Africa

☆ Raging wildfire empties homes in eastern Canada, pollutes air in US
▼ + stars: | 2023-05-31 | by ( Eric Martyn | ) www.reuters.com time to read: +3 min

The fire, which is about 30 kilometres (19 miles) west of downtown Halifax, has already forced 18,000 people to evacuate their homes. No fatalities have been reported but about 200 homes, structures have been damaged, the CBC reported, citing the Halifax Regional Municipality. Forest fires also led to evacuations of about 400 homes in the province of New Brunswick over the weekend, officials said. "The stories and the images we're seeing coming out of Nova Scotia and New Brunswick are heartbreaking," Prime Minister Justin Trudeau told reporters in Ottawa, pledging federal support for the Atlantic provinces. The Halifax wildfire was expected to cause poor air quality hundreds of miles to the south in parts of the U.S. East Coast and Midwest as smoke drifts across the regions.

Persons: David Steeves, Justin Trudeau, what's, Brendan O'Brien, Ismail Shakil, Sriraj Kalluvila, Marguerita Choy, Deepa Babington Organizations: HALIFAX, U.S, Nova, Nova Scotia Department of Natural Resources, CBC, CBC News, U.S ., National Weather Service, Thomson Locations: Nova Scotia, Halifax, Canadian, Halifax Regional Municipality, New Brunswick, Ottawa, Atlantic, Bedford , Nova Scotia, West Bedford, Alberta, U.S . East Coast, Midwest, Michigan, Ohio, Pennsylvania , New Jersey, New York, Philadelphia, Chicago

☆ Eastern Canada's Halifax declares emergency over wildfire
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +1 min

[1/3] Large plumes of smoke rise from a wildfire raging in the Upper Tantallon area, as seen from Hubley, Nova Scotia, Canada May 28, 2023 in this screen grab obtained from a social media video. Ben Britton/via REUTERSMay 28 (Reuters) - The eastern Canadian city of Halifax declared a state of local emergency late on Sunday after a wildfire caused evacuations and power outages. "Emergency responders are working around the clock to keep people safe and reduce the threats posed by the fires," the municipal authority in the capital of Nova Scotia province said in a press release. The state of emergency would be in effect for seven days, unless lifted or extended, the municipality said. Nova Scotia Power had temporarily disconnected power in the affected area, it said on Twitter.

[1/3] Smoke from the Tantallon wildfire rises over houses in nearby Bedford, Nova Scotia, Canada, May 28, 2023. REUTERS/Eric MartynHALIFAX, May 29 (Reuters) - A wildfire in the eastern Canadian city of Halifax led to mandatory evacuation orders for thousands of homes, with officials saying residents are not allowed to return until advised by municipal authorities. These suburban communities are home to many of the city's workers and are situated about 15 miles from Halifax. The wildfire, aided by strong winds and tinder-dry woods, damaged dozens of homes and also hampered rescue services. But most of those fires have since been brought under control, helping oil and gas production to resume.

☆ Confidence returning to UK housing market as asking prices jump: Rightmove
▼ + stars: | 2023-05-21 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

"One reason for this increased confidence may be that the gloomy start-of-the-year predictions for the market are looking increasingly unlikely," Tim Bannister, director of property science at Rightmove, said. Earlier this year, British house prices were forecast by sector analysts to fall by as much as 15% by mid-2024. Rightmove said mortgage rates had been stable on a week-to-week basis. Mortgage lender Halifax said earlier this month that property prices grew at the slowest annual pace in over 10 years in April. But rival Nationwide said prices rose by a monthly 0.5% in April after falling for the seven previous months.

☆ British home-buyers, facing higher interest rates, retreat in April - RICS
▼ + stars: | 2023-05-10 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

LONDON, May 11 (Reuters) - British property surveyors reported a drop in demand in April as new buyers turned more cautious ahead of the Bank of England's latest expected interest rate increase, an industry survey showed on Thursday. The Royal Institution of Chartered Surveyors (RICS) said its measure of new buyer enquiries fell to a net balance of -37 in last month from -30 in March, the lowest since January. Simon Rubinsohn, chief economist at RICS, said the survey pointed to challenges in terms of sales and lettings. The net balance of agreed house sales across Britain fell slightly but respondents noted a pick-up in the number of properties on the market. Data from mortgage lender Halifax published on Tuesday showed house prices grew at the slowest annual pace in more than 10 years in April.

☆ UK annual house price growth hits 10-year low: Halifax
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +1 min

LONDON, May 9 (Reuters) - British house prices rose in annual terms by just 0.1% in April, their smallest year-on-year increase since December 2012, mortgage lender Halifax said on Tuesday. Prices fell by 0.3% in month-on-month terms, the first drop this year, after a 0.8% increase in March. Despite the weakness in the market last month, Halifax said it sensed less volatility. Other gauges of the housing market have shown a more stable picture in recent months after the economic plans of former prime minister Liz Truss announced in September triggered turmoil in the mortgage market. "Alongside a market-wide uptick in mortgage approvals, these latest figures may indicate a more steady environment," Kim Kinnaird, director of mortgages at Halifax, said.

☆ London stocks fall on caution ahead of U.S. inflation data
▼ + stars: | 2023-05-09 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) fell 0.3% after a holiday on Monday for the official coronation of King Charles over the weekend, while the FTSE 250 midcap index (.FTMC) was down 0.7%. "Travel stocks have had a really nice run for the last few days," said Christopher Peters, trading floor manager at Accendo Markets. "From mid-April, we've seen a decline in oil prices. That has an effect on costs for the airlines and travel stocks." Energy stocks (.FTNMX601010) dipped 1.2%, as oil prices relinquished some of the strong gains of the previous two sessions ahead of U.S. inflation data due on Wednesday.

☆ UK house prices rise 5.5% year-on-year in February
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: 1 min

LONDON, April 19 (Reuters) - British house prices increased by 5.5% in the 12 months to February, the Office for National Statistics (ONS) said on Wednesday, slowing from January’s upwardly revised 6.5% rise. London was the region with the lowest annual growth, the ONS said, with prices there up 2.9%. More recent gauges of Britain’s housing market have shown a mixed picture. Mortgage lender Nationwide last month reported a 3.1% fall in house prices in the year to March, while rival Halifax said prices rose 1.6% in year-on-year terms. Reporting by Suban Abdulla, editing by Andy BruceOur Standards: The Thomson Reuters Trust Principles.

☆ UK housing market weakness continues, improvement on the horizon - RICS
▼ + stars: | 2023-04-12 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

RICS's gauges of buyer demand, sales, new listings and house prices were all in negative territory last month. However, its indicators looking ahead pointed to hints of stability in Britain's housing market in the coming 12 months. The sales expectations balance for 12 months' time rose to +1, its highest since March 2022. Mortgage lender Nationwide reported a 3.1% drop in house prices in the year to March - the fastest annual fall since July 2009 - while rival Halifax said prices grew 1.6% year-on-year. Its non-seasonally adjusted monthly tenant demand growth indicator hit a five-month high, with a net balance of +46.

☆ UK house sales at pre-COVID levels after 'mini-budget' shock - Rightmove
▼ + stars: | 2023-04-11 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

Property website Rightmove (RMV.L) said the number of sales agreed between sellers and buyers was just 1% lower last month than in March 2019 as borrowing costs edged down from their leap after the September 'mini-budget'. However, while the total number of agreed sales had improved from being 21% below 2019 levels as recently as January, they remained down 18% when compared with March 2022. Real estate agents noted a "significant upswing" in buyer demand for apartments of all sizes, with agreed sales rising 10% from 2019, up from a fall of 11% at the start of 2023. London saw the most pronounced recovery in the broader market, with overall agreed sales increasing 11% compared to March 2019, and agreed sales of apartments 23% higher. Rightmove said a third of properties were reduced from their original asking price, up from 19% last year although in line with pre-pandemic levels.

☆ A crash involving a Tesla and a student who just got out of a school bus is being investigated by authorities, report says
▼ + stars: | 2023-04-08 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

A Tesla may have been using assisted driving technology when it struck a student, per The AP. The 17-year-old had exited a school bus in Halifax County, North Carolina on March 15. The National Highway Traffic Safety Administration has opened an investigation, per The AP. A 51-year-old man was driving a 2022 Tesla Model Y, which failed to stop despite the bus displaying its warning signals. The NHTSA, North Carolina State Highway Patrol, and Tesla didn't immediately respond to requests for comment from Insider, made outside normal working hours.

☆ U.S. opens safety probe into Tesla that struck student in North Carolina
▼ + stars: | 2023-04-07 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Companies Tesla Inc FollowWASHINGTON, April 7 (Reuters) - U.S. safety authorities said on Friday they are investigating whether an advanced driver assistance system was in use when a Tesla struck a 17-year-old student that exited a school bus in North Carolina. NHTSA said Tesla's advanced driver assistance systems were suspected of being in use in the North Carolina crash. The agency has ruled out Tesla Autopilot use in three other special crash investigations. The local fire department said a Tesla struck one of its fire trucks and the Tesla driver was pronounced dead at the scene. In June, NHTSA upgraded to an engineering analysis its defect probe into 830,000 Tesla vehicles with driver assistance system Autopilot that involves crashes with parked emergency vehicles including fire trucks.

☆ Morning Bid: Weary markets wary of recession
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +2 min

Asian stocks sagged, while the dollar was on the front foot as investors kept their risk-off hat ahead of the long weekend. Oil prices eased after the shock at the start of the week from OPEC+ to cut production. Futures hint at a muted open in Europe, with the pan-European STOXX 600 index aiming to break its losing streak this week. European equities had a stellar start to the year but the March madness due to the banking turmoil has weighed. Meanwhile, UBS executives sought to assure investors on Wednesday that Switzerland's largest bank can make its shotgun takeover of Swiss rival Credit Suisse work.

☆ UK house prices rise for 3rd month in a row, Halifax says
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 6 (Reuters) - British house prices rose for a third month in a row in March, representing a further calming of the market after the turmoil sparked by former Prime Minister Liz Truss's "mini-budget" last September, data from mortgage lender Halifax showed. House prices rose by 0.8% in month-on-month terms, Halifax said on Thursday, the second-strongest gain since June last year after February's 1.2% increase. A Reuters poll of economists had pointed to a 0.3% drop on the month. House prices were 1.6% higher than a year ago. But other indicators, such as the BoE's mortgage approvals data and a measure of asking prices compiled by property company Rightmove, have suggested the market has become more stable in recent months.

☆ London's FTSE 100 climbs ahead of Easter break
▼ + stars: | 2023-04-06 | by ( Sruthi Shankar | ) www.reuters.com time to read: +2 min

The FTSE 100 (.FTSE) rose 0.5% and is on course to end the holiday-shortened week about 1% higher, with gains in oil & gas and healthcare stocks offering support. Shell (SHEL.L) rose 1.7% as the energy giant forecast higher liquefied natural gas (LNG) output in the first quarter. The midcap FTSE 250 index (.FTMC) rose 0.2%, with London-listed shares of travel firm TUI jumping 7.2% after sharp losses this week. "The report noted mortgage rates have continued to trend downwards, housing transactions have picked up slightly and the employment market remains robust. We still see challenges ahead as affordability remains under pressure," said Derren Nathan, head of equity research at Hargreaves Lansdown.

☆ Gold slips on firmer dollar ahead of US payrolls data
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +2 min

[1/2] Gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. REUTERS/Denis Balibouse/File PhotoApril 6 (Reuters) - Gold prices fell on Thursday as the dollar firmed ahead of a much awaited U.S. non-farm payrolls report, as investors sought clarity on whether the Federal Reserve might take a breather on its monetary tightening path. * Investors now await Friday's non-farm payrolls report for March, with economists polled by Reuters expecting new jobs of about 240,000. * Markets see a 54.2% chance of the Fed standing pat on interest rates in May, according to the CME FedWatch tool. * While gold is traditionally considered a hedge against inflation, higher interest rates dim non-yielding bullion's appeal.

☆ UK mortgage approvals rose more than expected in February: BoE
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

The increase follows reports from the Royal Institution of Chartered Surveys and mortgage lender Halifax that show the downturn in the housing market is no longer accelerating, even if conditions remain weak. Britain's housing market slowed sharply after September when former prime minister Liz Truss's economic plans triggered a spike in mortgage rates and a dramatic fall in approvals. "Reflecting the partial unwinding of the spike in mortgage rates following the 'mini' budget, mortgage approvals rose to their highest level for three months in February," said Andrew Wishart, economist at consultancy Capital Economics. "However, with mortgage rates unlikely to fall much further in the near term, lending will remain weak." Net mortgage lending value terms, which lags approvals, fell in February to 738 million pounds from 2 billion pounds in January, the lowest reading since July 2021.

After almost 40,000 asylum seekers entered Canada from the U.S. through irregular border crossings last year, the two countries revised their two-decade-old asylum pact last week to stem the flow of asylum seekers. After moving thousands of asylum seekers from Quebec to Ontario, the federal government relocated some 393 asylum seekers to the Atlantic provinces of New Brunswick, Nova Scotia and Newfoundland as of March 19, according to official data. These transfers over the past several months have been Canada's first relocations of asylum seekers, the government said. Some of the asylum seekers and advocates told Reuters there is inadequate access to legal counsel, potentially jeopardizing refugee claims. Chamagne said her three staff lawyers are trying to help 164 asylum seekers transferred to Halifax, Nova Scotia.

☆ UK house prices slide further but market pessimism eases: RICS
▼ + stars: | 2023-03-09 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

The Royal Institution of Chartered Surveyors (RICS) house price balance, which measures the difference between the percentage of surveyors seeing rises and falls in house prices, fell to -48 in February from -46 the previous month - the lowest reading since April 2009. While Thursday's survey still showed the housing market firmly in decline, some measures indicated that a more stable picture was emerging in 2023, RICS said. Tarrant Parsons, senior economist at RICS, said he expected housing market activity to remain subdued over the coming months. "Given the ongoing weakness in demand, house prices remain on a downward trajectory, and are expected to see further falls through the first half of the year at least," Parsons said. In contrast, another lender, Nationwide, last week said house prices dropped by the most in more than 10 years in February.

☆ Morning Bid: Don't fight central banks
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in European and global markets from Anshuman DagaJudging by the improved mood in global equity markets, investors are once again having a go at central banks. Will Powell be able to send a decisive message to markets about the future pace of interest rate increases? Fed, ECB and BoE 'terminal rates' riseThe European Central Bank has already raised rates to 2.5%, a 3 percentage point increase since July and essentially promised another half a percentage point increase on March 16. Strategists at BlackRock Investment Institute expect the trend to end as recent data pushes the European Central Bank to raise rates and keep them higher for longer. And Schroders' analysts are in the camp of those who expect interest rates to be kept on hold by the ECB from March.

☆ UK house prices bounce unexpectedly in February: Halifax
▼ + stars: | 2023-03-07 | by ( Andy Bruce | ) www.reuters.com time to read: +1 min

LONDON, March 7 (Reuters) - British house prices jumped unexpectedly in February, potentially reflecting improvements in consumer confidence and the mortgage market, lender Halifax said on Tuesday, but the overall trend remained downwards. House prices rose 1.1% month-on-month, following a 0.2% rise in January, Halifax said. Most other gauges of the housing market are yet to show a similar improvement after a recent slide in house prices from highs hit following the onset of the COVID-19 pandemic. Last week another lender, Nationwide, said house prices dropped by the most in more than 10 years during February. House prices were 2.1% higher than a year ago, Halifax said.

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