Government of Canada Takes Action to Strengthen Housing Financing

Feb 16, 2010, Government of Canada Takes Action to Strengthen Housing Financing The Honourable Jim Flaherty, Minister of Finance, today announced a number of measured steps to support the long-term stability of Canada’s housing market and continue to encourage home ownership for Canadians. “Canada’s housing market is healthy, stable and supported by our country’s solid economic fundamentals,” said Minister Flaherty. … Read More

Ottawa advised to tighten mortgage rules

Feb 10, 2010, Ottawa advised to tighten mortgage rules By Julian Beltrame OTTAWA — The federal government should avoid major surgery and make only minor adjustments to deal with fears of overheating in Canada’s housing market, a number of leading economists said Wednesday. Federal Finance Minister Jim Flaherty and the Bank of Canada have expressed concern that Canadians may be … Read More

CREA forecasts record home market this year

Feb 9, 2010, CREA forecasts record home market this year Garry Marr, Financial Post Canadian real estate sales and prices are poised to set records this year, according to a new forecast that is bound to reignite calls in some quarters for tighter lending rules. The Canadian Real Estate Association, which represents 100 boards across the country, said Monday it … Read More

No need for mortgage market structural shift: Bank of Canada

Feb 4, 2010, No need for mortgage market structural shift: BoC WINNIPEG, Manitoba (Reuters) – The head of the Bank of Canada said on Thursday he does not see a housing bubble currently, nor does it see the need for structural change in the country’s mortgage market. “The Canadian mortgage market has functioned I think exceptionally well during the course … Read More

Mortgage demand at six-week highs on refinance wave

NEW YORK (Reuters) – Demand for home loans rose to a six-week high on a mini refinance wave, with borrowers pushing to lock in rates before they climb later this year, the Mortgage Bankers Association said on Wednesday, Housing Market Applications to buy homes and refinance loans jumped last week to mid-December levels as average 30-year mortgage rates held near … Read More

Bank of Canada maintains overnight rate target

Jan 19, 2010 Bank of Canada maintains overnight rate target Bank of Canada maintains overnight rate target at 1/4 per cent and reiterates conditional commitment to hold current policy rate until the end of the second quarter of 2010 OTTAWA – The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per … Read More

Mortgage shoppers opt for caution

January 14, 2010 Mortgage shoppers opt for caution Garry Marr and Paul Vieira, Financial Post Published: Thursday, January 14, 2010 The housing industry fired back yesterday at comments from Ottawa that the sector might be overheated with a new report that shows Canadians have become conservative in their mortgage choices, leaving little chance for delinquencies. The Canadian Association of Accredited … Read More

Research shows Canadian mortgage market can manage risks

Jan 14, 2010 Research shows Canadian mortgage market can manage risks New data collected by CAAMP indicates homeowners are borrowing less, not more, than they can afford to borrow Toronto, Ont. (January 14, 2010) – New research using data collected by the Canadian Association of Accredited Mortgage Professionals (CAAMP) from its corporate members strongly suggests that Canadian mortgage lenders and … Read More

BELMOR Mortgage Corp. tabs industry veteran for new company launch.

Jan 12, 2010 BELMOR Mortgage Corp. tabs industry veteran for new company launch. Belmor Mortgage Corp. signaled to the rest of the industry how serious they were with the appointment of industry veteran, Heather Lakatos, to the position of Director, Sales and Operations. Lakatos brings over 30 years of industry experience, having held senior management positions with both Scotiabank and … Read More

Tortoise and hare finish seen for real estate recovery

Forecast predicts slow, steady gains Calgary market BY DAN HEALING, CALGARY HERALD – JANUARY 8, 2010 CALGARY – The slow and steady recovery seen in 2009 numbers released by the Calgary Real Estate earlier this will through 2010, with modest gains of about three per cent in average resale homes, says Royal LePage. In its monthly market forecast, the real estate … Read More