December retail trade sales expanded 0.9% year-on-year, more or less in line with expectations. As had been expected, the month-on-month number dropped sharply, falling -2.3% on a seasonally adjusted basis, largely as a result of preemptive Christmas shopping taking place in November, particularly on Black Friday. Clothing sales were the dominant driver of the expansion, […]
Late in 2016, the available indicators all pointed to a Residential Mortgage Market in decline. Signs of a mildly improving economy approaching in the near term may turn this trend around, but probably only late in 2017 at best. For the full article, click here.
An uptick in the still-small percentage of 105-109% LTP bonds is “interesting”, and “100% and above” LTP loans form a significant 42.9% of total bonds, but mortgage lenders’ as a group remain conservative on LTPs compared to the days of the pre-2008 boom For the full article, click here.
Emigration is something of a cyclical phenomenon, it would appear. While it can be driven by households’ perceptions of the longer term future of the country, with recent years of “heightened social tensions” playing a role, it also has much to do with the economic cycle both in South Africa and abroad. The emigration-related part […]
The deterioration in residential mortgage market stress during the recent interest rate hiking cycle has not been severe to date, and it is plausible that we could see some improvement in the situation in 2017 should interest rates continue to move sideways Download the full article