Interest rates fuel Calgary housing market

Apr 1, 2010, Interest rates fuel Calgary housing market CALGARY – Calgary’s housing market in March was fueled by an expected rise in interest rates with MLS single-family home sales up by 29 per cent compared with a year ago and condo sales soaring by 37 per cent, according to data released today by the Calgary Real Estate Board. There … Read More

First-time buyers jumping headfirst into the market

Mar 31, 2010, First-time buyers jumping headfirst into the market Nicole Dyck rented with friends and dreamt of buying her own home until the day it suddenly seemed right to make her move. “Living with two boys motivates you to buy your own place and not have to clean up after anyone else,” says Dyck, a 27-year-old call centre worker … Read More

Bank of Canada sees low rates, but not copying Fed

Mar 11, 2010, Bank of Canada sees low rates, but not copying Fed By Louise Egan OTTAWA (Reuters) – The Bank of Canada believes interest rates should stay at near-zero levels for another few months even though the economy is showing signs of quicker than expected recovery, the central bank chief said on Thursday. At the same time, Bank of … Read More

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