China

The parties are looking at having the deal done by the end of 2020, once China's currency regulator agrees to the transfer of funds.

China Oceanwide said it was not able to meet with Hony Capital to finalize the terms and conditions because of the pandemic.

Neither side opted to invoke their Aug. 31 termination rights and the deal is set to close by the end of September.

Most of the proceeds will be used to deal with debt maturities, with the rest held by the MI unit's parent.

“They are willing to play this to the end, one way or the other.”

The domestic mortgage insurer could have a portion of its equity sold as an initial public offering if the China Oceanwide transaction were to be terminated.

If the transaction does not go through, Genworth is looking at reviving a spin-out of its U.S. mortgage insurance business.

The latest deadline for Genworth Financial's acquisition by China Oceanwide is June 30, but the parties are looking to get the transaction completed by the end of next month.

Canada's housing market is poised for a hot spring — with lower mortgage rates likely to offset any major drag from the coronavirus.

Mortgage rates slipped this week, as the stock market sell-off resulted in investors moving into bonds which drove the 10-year Treasury yield down, according to Freddie Mac.

Investors snapped up U.S. Treasuries, sending the yield on 10-year securities plunging by as much as 11 basis points Monday to within 5 basis points of its all-time low.

Mortgage rates continued their slide this week, which along with positive economic news should continue to pump up purchase demand, according to Freddie Mac.

The U.S. mortgage insurance business remained a bright spot for Genworth Financial, as fourth quarter adjusted operating income increased 29% and new insurance written rose nearly 95% over the prior year.

Mortgage application volume increased 5%, led by refinancings, as interest rates continued to fall on fears that the coronavirus was spreading in China and elsewhere, according to the Mortgage Bankers Association.

Mortgage applications increased 7.2% from one week earlier as consumers reacted to falling interest rates related to news regarding the coronavirus, according to the Mortgage Bankers Association.

Mortgage rates fell to their lowest level in three months, possibly because investors became nervous following the spread of a coronavirus in China and elsewhere.

Mortgage rates for the most part were stable this past week as the markets looked warily at economic and geopolitical events, according to Freddie Mac.

The deadline for China Oceanwide to complete its acquisition of Genworth Financial was extended for a 13th time, following completion of the sale of Genworth MI Canada to Brookfield Business Partners.

Mortgage rates ended the week unchanged from the previous seven-day period, according to Freddie Mac, although not without some gyrations from the results of the elections in the United Kingdom and U.S-China trade talks.

Mortgage rates rose slightly with a stronger-than-expected jobs report starting the week and the Federal Open Market Committee decision to hold the line on short-term rates ending it, according to Freddie Mac.