久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

  Home>News Center>China
       
 

U.S. mortgage watchers worry about China FX move
(AP)
Updated: 2006-01-11 09:11

China's recent signal that it may diversify its foreign investments in 2006 has mortgage industry watchers concerned that if China buys fewer U.S. Treasury securities this year, it may drive interest rates higher and pour more cold water on the real estate market.

Last week, China's foreign currency regulator said its plans for 2006 include "actively exploring more efficient use of our FX (foreign-exchange) reserve assets" and "widening the foreign exchange reserves investment scope."

While China's central bank said Tuesday it has no plans to sell dollars from its $800 billion-plus foreign reserves, some analysts predict China may buy less U.S. government debt at Treasury auctions this year.

Like Japan, China is a large buyer of U.S. Treasuries and other U.S. debt such as securities issued by housing agencies Freddie Mac and Fannie Mae. China sees the U.S. debt market as stable and liquid versus other countries' debt and its purchases have helped keep U.S. interest rates relatively low in recent years.

While it is not certain exactly how a drop in China's demand for U.S. government debt would show up, Ken Hackel, chief fixed income analyst at RBS Greenwich Capital Markets, believes there could fewer purchases of five- and 10-year U.S. government notes at regular U.S. Treasury auctions.

As a result, "there may be somewhat higher yields ... over time," Hackel said. He added that China likely won't completely exit the U.S. government debt market, but merely pare back its buying.

Home mortgage rates are closely tied to Treasury rates and any rise in the cost of borrowing could further slow home sales. A series of increases in the overnight bank lending rate by the Federal Reserve since 2004 has already made adjustable-rate mortgages more pricey. Further rises in the yield of 10-year Treasury notes, which lenders use as a benchmark for rates they charge for 15- and 30-year fixed-rate mortgages, could make those mortgages more expensive as well.

Last week, 30-year mortgages averaged 6.21 percent, up from 5.77 percent a year ago, according to Freddie Mac.

"If it comes to pass that long-term Treasury yields are higher, that means that mortgage rates will become more expensive for consumers," said Frank Nothaft, chief economist at Freddie Mac, one of two housing agencies chartered by Congress to help lenders resell their mortgages on Wall Street.

"The added burden of a rise in interest rates, even a small one, is of no help" to consumers or their lenders, said Keith Gumbinger of HSH Associates, which tracks mortgage rates.

While China has signaled a shift in its buying patterns, it likely won't completely abandon U.S. dollar denominated assets like debt issued by Fannie Mae and Freddie Mac.

"They (China) ship a lot of goods to Wal-Mart. Wal-Mart pays for these goods in dollars and manufacturers in China trade these for China's local currency and eventually the dollars work their way into China's central bank," said Chris Low, chief economist at FTN Financial.

China's central bankers have a choice of investing the U.S. currency in dollar denominated assets like U.S. Treasury bonds or they can trade the dollars for other currencies.

"If they diversify from the U.S. dollar denominated assets, it would lower the value of the U.S. dollar relative to China's currency, the yuan, and make it more expensive for American companies to buy goods made in China," said Low, adding that he does not expect China let its currency rise in value by selling U.S. dollars.

Nothaft and Hackel also point out that any drop in demand from China could be made up for by investors like U.S. brokerage firms or foreign investors, containing a rise in U.S. interest rates.

While mortgage rates today are up from their record lows, they are still much lower than the double digit rates seen in the 1980s. But there are signs that higher borrowing costs already are weighing on sales.

The National Association of Realtors said last week its measure of sales contracts signed in November dropped 2.5 percent, a third consecutive decline. On Tuesday, The association said it expects the 30-year fixed-rate mortgage to rise gradually to 6.7 percent during the second half of the year.

While Hackel believes the change in China's buying of Treasuries should result in a marginal increase in mortgage rates, David Olson of Wholesale Access, a firm that tracks the mortgage banking industry, believes mortgage rates could be as much as half a percentage point higher.

"I don't think they (China) are going away completely, but if they do then we're going to have quite a runup in rates," said Olson.



Heading home for festival
Anti-violence exercise in Chongqing
Residents enjoy watermelons in winter in Wuhan
  Today's Top News     Top China News
 

U.S. mortgage watchers worry about China FX move

 

   
 

China, India to discuss border, sign deals

 

   
 

Poor surveillance led to human infections

 

   
 

Catholicism flourishes in Tibetan village

 

   
 

FM: North Korea talks facing tough times

 

   
 

China, Kazakhstan discuss gas pipeline

 

   
  Railway ticket prices to be increased during Spring Festival
   
  Public urged not to abuse hotline for trivial affairs
   
  China, India to discuss border, sign deals
   
  China, Kazakhstan discuss gas pipeline
   
  Officials battling Xiangjiang River pollution
   
  Man with death penalty pronounced innocent
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
Researcher: China unlikely to sell dollars
   
China reforms forex rate forming mechanism
   
China restates yuan to rise gradually
   
China: No change to yuan policy
   
China vows further forex, capital account reform
   
Stronger RMB level in line with forex rules
  News Talk  
  It is time to prepare for Beijing - 2008  
Manufacturers, Exporters, Wholesalers - Global trade starts here.
Advertisement
         
久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

    永久免费黄色片| 92看片淫黄大片一级| 成人黄色片视频| 欧美视频亚洲图片| 欧美视频第三页| 国产在线无码精品| 三上悠亚av一区二区三区| 国产一级爱c视频| 久久精品一二三四| 黄色三级视频在线| 欧美 丝袜 自拍 制服 另类| 日韩精品视频网址| 久久婷婷国产91天堂综合精品| 老子影院午夜伦不卡大全| 五月激情婷婷在线| 欧美精品一区免费| 亚洲 欧美 综合 另类 中字| 91网址在线观看精品| 黑森林精品导航| 男人添女荫道口图片| japanese在线播放| 欧美精品 - 色网| 91视频免费版污| 国产亚洲天堂网| 国产婷婷一区二区三区| 在线观看av的网址| 久久精品国产精品亚洲精品色| 男女爽爽爽视频| 国产成人亚洲精品无码h在线| 久青草视频在线播放| a级网站在线观看| 中文字幕剧情在线观看| 孩娇小videos精品| 久久久久久香蕉| 亚洲熟女乱色一区二区三区| 国产午夜大地久久| www.国产在线视频| 日本男女交配视频| 免费日韩在线观看| 激情五月六月婷婷| 久久香蕉视频网站| www.-级毛片线天内射视视| 欧美在线a视频| 亚洲va综合va国产va中文| 色悠悠久久综合网| 亚洲 欧美 日韩系列| 小泽玛利亚视频在线观看| 四季av一区二区| 成人免费xxxxx在线视频| 天堂在线资源视频| 污色网站在线观看| 亚洲综合激情视频| 色中文字幕在线观看| 色撸撸在线观看| 亚洲精品偷拍视频| 欧美日韩中文字幕在线播放| 国产精品一色哟哟| av7777777| 国产l精品国产亚洲区久久| 精品久久久久av| 免费看污污网站| 国产乱女淫av麻豆国产| 成年人三级视频| 国产欧美123| 免费观看国产精品视频| 免费在线激情视频| 手机看片福利日韩| 一区二区久久精品| 黄色a级片免费看| 免费看国产一级片| 成人黄色一区二区| 日韩精品aaa| 欧美黄色免费网址| 欧美精品色婷婷五月综合| a在线观看免费视频| 97人人模人人爽人人澡| 69sex久久精品国产麻豆| 国产精品亚洲αv天堂无码| 日本肉体xxxx裸体xxx免费| 91免费网站视频| 欧美精品一区二区三区三州| 日本熟妇人妻中出| 免费在线观看污污视频| 久草视频国产在线| 91色国产在线| 400部精品国偷自产在线观看| 免费无码毛片一区二三区| 欧美日韩在线观看不卡| 亚洲第一精品区| 日本在线xxx| 欧美特黄aaa| 800av在线免费观看| 九色porny91| 佐佐木明希av| 欧美精品一区二区三区免费播放| 欧美性猛交xxxx乱大交91| 熟女少妇在线视频播放| 国产3p在线播放| www.av毛片| av在线免费看片| 日韩欧美一区二| 欧洲美女亚洲激情| 欧美黑人经典片免费观看| 在线视频观看91| 3d动漫一区二区三区| 特黄特黄一级片| 116极品美女午夜一级| 中国一级大黄大黄大色毛片| 国产熟人av一二三区| 国产成人在线小视频| 99热一区二区| 欧美极品欧美精品欧美| 国产奶头好大揉着好爽视频| 日韩欧美黄色大片| av免费看网址| 国产精品av免费| 91av俱乐部| 给我免费播放片在线观看| 在线播放 亚洲| 日韩福利视频在线| 国产h视频在线播放| 日本女人高潮视频| 国产嫩草在线观看| 日本韩国欧美在线观看| 日本一本草久p| 亚洲va在线va天堂va偷拍| 草草草在线视频| 欧美国产日韩激情| 日韩不卡视频一区二区| 午夜宅男在线视频| 农村妇女精品一二区| 国产夫妻自拍一区| 一级黄色免费在线观看| 欧美精品久久久久久久久25p| 免费黄色福利视频| 你真棒插曲来救救我在线观看| 六月婷婷激情网| 捷克做爰xxxⅹ性视频| 五月婷婷丁香综合网| 欧美日韩亚洲一二三| 精品这里只有精品| 免费高清一区二区三区| 特级西西444| 日本福利视频导航| 成人不卡免费视频| 成人性生交免费看| 五月婷婷六月丁香激情| av无码精品一区二区三区| 亚洲乱码中文字幕久久孕妇黑人| 黄网站欧美内射| 无码熟妇人妻av在线电影| 久久亚洲国产成人精品无码区| 久久精品国产精品亚洲精品色| 欧美日韩理论片| 亚洲视频在线不卡| 99热这里只有精品7| 韩国黄色一级大片| 日韩中文字幕亚洲精品欧美| 一本色道久久88亚洲精品综合| 四虎精品欧美一区二区免费| 成年人视频大全| 人妻互换免费中文字幕| www.xxx麻豆| 九九爱精品视频| 国产在线青青草| 成人黄色片视频| 久草福利视频在线| jizz大全欧美jizzcom| 伊人色在线视频| 视频一区二区视频| 91成人综合网| 每日在线观看av| 黄www在线观看| 好男人www社区| 久久久久久久久久一区| 做爰高潮hd色即是空| 99er在线视频| 青青青免费在线| 日日摸天天爽天天爽视频| 九九精品久久久| www.午夜色| 国产无限制自拍| 99精品视频在线看| 自拍偷拍21p| 做爰高潮hd色即是空| 777av视频| 欧美精品aaaa| 99亚洲精品视频| 日韩一级片免费视频| 无码人妻精品一区二区三区66| 亚洲一区二区三区观看| 日本免费成人网| 人妻熟女一二三区夜夜爱| 日本美女视频一区| 六月婷婷激情综合| 熟妇人妻无乱码中文字幕真矢织江 | 日本熟妇人妻中出| 91aaa精品| 妺妺窝人体色777777| 黄色免费网址大全|