KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
A sudden surge in Google searches for “help with mortgage” has spooked investors, with online chatter drawing comparisons to the 2008 housing crisis. But economists caution: while homeowner stress is rising, a repeat of the GFC is not on the cards — at least not yet.
Key Highlights
Search Surge: Google Trends shows queries for “help with mortgage” hitting their highest level since 2009.
Not 2008 Redux: The viral claim that searches surpassed the 2008 crisis is misleading. The true prior peak was in 2009.
Context Matters: Internet adoption was lower in 2009; today’s spike doesn’t directly translate into mass defaults.
Mortgage Stress Signals
Delinquencies Rising: Serious delinquencies (90+ days past due) climbed by 30,000 YoY in July (Intercontinental Exchange).
FHA Loans Under Pressure: FHA-backed mortgages (popular among first-time & lower-income buyers) accounted for 52% of serious delinquencies.
Conventional Mortgages Stable: Mainstream loans remain comparatively resilient.
Foreclosure Data
Foreclosure filings up 18.1% YoY in August (Attom), equating to ~1 in 4,000 housing units.
Foreclosure activity has risen for six straight months, but still below pre-pandemic levels.
Analyst Views
Realtor.com’s Krimmel: “I’d be wary of drawing strong conclusions from Google Trends. Watch local labor markets instead.”
Santander’s Stanley: “The overall picture is favorable, but vulnerable households are showing more strain.”
Investor Takeaway
The Google search spike is a red flag, not a crisis alarm. Mortgage stress is emerging at the lower-income segment, but the broader housing market remains intact. For now, the real risks to watch are local job markets + falling house prices + high recent-purchase areas — the ingredients of a potential storm.
Investor angle: The housing sector isn’t in meltdown mode, but rising FHA stress could weigh on consumer credit, regional banks, and homebuilders if labor markets soften.
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