Opening Bell: Mortgage review fallout, Skyscanner's sell-out, Ireland's Black Friday prep'

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IBEC says the Central Bank's review of its mortgage deposit rules will bring more certainty to the market.

Its property group, Property Industry Ireland, said that the move will mean that the level of demand will be clearer and this certainty will improve supply.

"The introduction of mortgage lending rules was a welcome addition to the country’s lending regulations, but were brought in at a level that was overly restrictive on buyers," said Dr David Duffy, Director of Property Industry Ireland.

He added that the "announcement coupled with the announcement in Budget 2017 of a Help-to-Buy rebate, will help first-time buyers meet their deposit requirements and give home builders clarity on demand. It is however disappointing that there has been no reform of the loan-to-income restrictions, which we hope the Central Bank will keep under review."


There is growing speculation that the Federal Reserve will raise interest rates when its Open Market Committee meets in December.

The minutes from its last gathering were released last night, they state it would be "appropriate to raise the target range for the federal funds rate relatively soon."

It continues: "Some participants noted that recent Committee communications were consistent with an increase in the target range for the federal funds rate in the near term or argued that to preserve credibility, such an increase should occur at the next meeting,"


Flight search app Skyscanner is in line for a €1.7bn takeover.

The Edinburgh-based firm has been approached by China's biggest online travel agency C-trip.

Statements from both companies say Skyscanner will remain operationally independent with its current management team.

Skyscanner employs more than 700 people across 10 offices.


Irish retailers are getting ready for Black Friday - the US-imported day of sales has become one of the most important dates on the Irish shopping calendar.

Currys PC World reports that it will take one order every 8 seconds between 7:00am and 3:00pm tomorrow.

It expects 90% of these sales to be online.