Jan 30, 2012
Canada facing subprime mortgage risk-Another Reason Why Affordability is Very Important
Canada facing subprime mortgage risk Bloomberg News Jan 30, 2012 – 11:11 AM ET | Last Updated: Jan 30, 2012 11:18 AM ET By Andrew Mayeda Canadian lenders are loosening standards, offering mortgages similar to U.S. subprime loans that pose an "emerging [...] read more... |
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Jan 23, 2012
More Mortgage Rules Planned If Housing Market Gets Too Hot
More mortgage rules planned if housing market gets too hot Garry Marr Jan 23, 2012 – 12:23 PM ET A new round of mortgage rules from Ottawa could include tough new measures for calculating how the self-employed qualify for loans [...] read more... |
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Jan 18, 2012
Calgary, Edmonton Ranked Among Top Performing Global Economies
Calgary, Edmonton ranked among top performing global economies By Derek Abma, Financial Post January 18, 2012 10:08 AM Five out of seven Canadian cities considered among the top 200 local economies in the world were in the top half of rankings [...] read more... |
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Jan 17, 2012
The Mixed Blessing of Low Rates
The Mixed Blessing of Low Rates Kevin Carmichael Globe and Mail Blog Posted on Tuesday, January 17, 2012 2:17PM EST If the Bank of Canada was permitted to do so, would it tighten home lending standards? There’s reason to wonder. The central [...] read more... |
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Jan 12, 2012
Calgary average house prices to increase: Royal LePage 3.6 hike forecast for 2012
Calgary average house prices to increase: Royal LePage 3.6% hike forecast for 2012 By Mario Toneguzzi, Calgary Herald January 12, 2012 CALGARY — A national report predicts average house prices in Calgary will increase by 3.6 per cent this year. [...] read more... |
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Jan 10, 2012
Housing Start Expected to Increase in 2012 and 2013 in Alberta
Alberta to buck national trend for new home construction Housing starts expected to increase in 2012 and 2013 By Mario Toneguzzi, Calgary Herald January 10, 2012 10:06 AM CALGARY — Alberta is expected to buck the national trend for [...] read more... |
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Jan 4, 2012
Calgary's real estate market poised to turn the corner in 2012: CREB
Calgary's real estate market poised to turn the corner in 2012: CREB By Mario Toneguzzi, Calgary Herald January 4, 2012 CALGARY — Calgary's residential real estate market is poised to turn the corner as 2012 will signal increasing demand for housing [...] read more... |
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Dec 29, 2011
CMHC Warns on Household Debt... Are Rates Rising??
CMHC warns on household debt Christine Dobby Dec 29, 2011 – 1:24 PM ET | Last Updated: Dec 29, 2011 4:52 PM ET Canada Mortgage and Housing Corp. cautioned that Canadians need to be "vigilant" about growing levels of household debt, noting ramped-up [...] read more... |
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Dec 17, 2011
Variable Rate Mortgage Rates Disappearing
Variable rate mortgage discounts disappearing Gary Marr The days of getting any sort of discount on a variable rate mortgage are over — again. Those mortgages, tied to prime, have become a mainstay of the housing market. And, why not? While prime [...] read more... |
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Dec 15, 2011
Calgary MLS Sales Jump in November
Calgary MLS sales jump in November 16% hike from last year By Mario Toneguzzi, Calgary Herald December 15, 2011 9:36 AM Calgary MLS sales in November were 16 per cent higher than last year. Photograph by: Dean Bicknell CALGARY — The year-over-year [...] read more... |
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Dec 14, 2011
TD Chief Wants Stricter Mortgage Rules for 2012
Mortgage rules should be stricter: TD chief Grant Robertson — BANKING REPORTER From Thursday's Globe and Mail Published Wednesday, Dec. 14, 2011 7:03PM EST Less than a year after Ottawa forced the banking sector to cut back on risky mortgage lending, [...] read more... |
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Dec 13, 2011
Could This Be a Sign of Rates Increasing in 2012
Record high household debt in Canada triggers alarm Tavia Grant From Wednesday's Globe and Mail Published Tuesday, Dec. 13, 2011 8:45AM EST Canadians have set a new record for household debt, a sign that many families are leaving themselves vulnerable [...] read more... |
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Dec 9, 2011
Calgary luxury home market booming
Calgary’s luxury home market has seen a spike in demand this year with sales in the upper-end approaching the record levels of 2007. Brendan Hughes, a realtor with RE/MAX Real Estate (Central) in Calgary, said sales in the upper-end market are a [...] read more... |
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Dec 7, 2011
Calgary building permit value soars in November
The estimated construction value of November building permit applications in Calgary reached $259 million, up 37 per cent from a year ago, according to the City of Calgary. Building permit value in November 2010 was $189 million. This year's November [...] read more... |
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Nov 22, 2011
Alberta forecast to be only province with increase in housing starts
Alberta will be the only province next year to buck the national trend for housing starts across the country. According to an October 2011 Housing Forecast report released Tuesday by Altus Group, only Alberta is expected to see an increase in housing [...] read more... |
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Nov 8, 2011
Alberta bucks trend of shaky economies
By Myke Thomas, Calgary Sun The Bank of Canada left its overnight rate at 1% amid fears international economies are dragging down the Canadian economy, but not so much in Alberta. A report from Ben Brunnen, chief economist for the Calgary Chamber of Commerce, [...] read more... |
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Nov 7, 2011
Calgary house prices increase 126 in past decade
Strong in-migration, population growth and a vibrant oil and gas sector have pushed Calgary average house prices to an increase of 126 per cent in the past decade, says a new report released Monday by Re/Max. The report said renovation spending and new [...] read more... |
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Oct 24, 2011
Calgary's housing market balanced: Conference Board
The Conference Board of Canada says Calgary's housing market is currently under balanced conditions. In a report released Monday, the board said the seasonally-adjusted annual rate of resales in Calgary was 22,308 units in September, up from 20,040 units [...] read more... |
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Oct 18, 2011
House prices, sales rise in September
Calgary home prices rose along with sales in September, according to the Canadian Real Estate Association. CREA said Monday that MLS residential sales in Calgary reached 1,789 units in September, up 11 per cent from a year earlier. The average sale price [...] read more... |
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Oct 18, 2011
Alberta boomers most likely to expect a mortgage-free retirement
Alberta boomers are the most likely in the country to expect a mortgage-free retirement, according to the 2011 TD Canada Trust Boomer Buyers Report released Wednesday. The poll said 79 per cent of Alberta boomers expect to be mortgage-free in time for [...] read more... |
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Sep 27, 2011
Canadian real estate market an outperformer: Scotia Economics
The renewed slowdown in global economic activity is putting further downward pressure on already-weak residential property markets across much of the developed world, according to the latest Global Real Estate Trends report released Tuesday by Scotia [...] read more... |
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Sep 26, 2011
Calgary resale homes top 400,000 average
The average price of resale homes in Calgary topped $400,000 in August, according to a report released Friday by the Conference Board of Canada. The board said all residential property sales in the city hit an average of $404,755 during the month, up [...] read more... |
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Sep 16, 2011
Calgary region housing starts set to rise: Conference Board of Canada
The Calgary region's homebuilding industry is forecast to see a rise in activity. The Conference Board of Canada said Friday that short and long-term expectations for housing starts in the Calgary census metropolitan area were both positive. A year ago, [...] read more... |
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Sep 15, 2011
Calgary MLS sales jump 22 in August
MLS sales in Calgary rose by 22.1 per cent in August compared with a year ago — a greater year-over-year rate of growth than the rest of the country. The Canadian Real Estate Association said Thursday that Calgary recorded 1,907 MLS sales for all [...] read more... |
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Sep 8, 2011
Calgary region new home prices drop
The Calgary region bucked a national trend for new home prices in July. Across the country, the New Housing Price Index, released by Statistics Canada on Thursday, rose during the month but it dropped in the Calgary census metropolitan area. The federal [...] read more... |
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Sep 8, 2011
Calgary building permit value shoots up
The estimated construction value of building permit applications in Calgary in August jumped by 91 per cent compared with a year ago. The value in August was $426 million while it was $223 million in August 2010. The City of Calgary says building permits [...] read more... |
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Sep 8, 2011
Edmonton building-permit values enjoy gentle uptick
While Alberta and Canada posted strong gains in the value of building permits in July, Edmonton saw a more modest boost.Statistics Canada said Thursday the value of construction intentions in the Edmonton census metropolitan area grew by one per cent [...] read more... |
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Sep 2, 2011
Acreage living appeals to Calgarians
There's something about living on an acreage that is becoming more appealing to Calgarians. Having land is an obvious reason. But so is the fact of moving away from the hustle and bustle of the city, which has become busier each year. The latest data [...] read more... |
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Aug 30, 2011
Calgary house prices expected to increase
Short-term year-over-year house price growth in the Calgary region is expected to be in the five to seven per cent range, says the Conference Board of Canada. It is a forecast it has consistently predicted for the Calgary census metropolitan area for [...] read more... |
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Jul 4, 2011
Calgary MLS sales soar in June
Transactions up over 30% from a year ago Calgary's residential real estate market experienced a significant upswing in sales in June compared with a year ago. Single-family MLS sales during the month were 1,398, up 32.01 per cent from June 2010's 1,059 [...] read more... |
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Jun 13, 2011
Alberta recreational properties see price decline
The stage is set for one of the best recreational property markets in years, says real estate firm RE/MAX in its latest report released Monday. Greater affordability, increased selection and pent-up demand are key factors this year, according to the 2011 [...] read more... |
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Jun 10, 2011
Calgary's May building permits up 14 from last year
The estimated construction value of building permit applications for May was up by 14 per cent compared with a year ago in Calgary. The City of Calgary reported Friday that permit applications reached $274 million for the month, up from $241 million in [...] read more... |
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May 31, 2011
Calgary house price growth forecast
Calgary can expect five to seven per cent year-over-year house price growth in the short term, according to the Conference Board of Canada. In its Metro Resale Index, released Tuesday, the board said the average residential price in Calgary in April jumped [...] read more... |
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Apr 18, 2011
Goldman Sachs' O'Neill lauds Canada
By Boyd Erman - The Globe and Mail Jim O'Neill, chairman of Goldman Sachs Asset Management, was in Canada last week and the investor found himself with nothing but nice things to say about the country, calling it "especially well placed" to [...] read more... |
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Apr 5, 2011
First-time Calgary homebuyers back in market: Re/Max report
First-time buyers have re-entered the Calgary resale housing market with "a renewed sense of confidence," says a report released Tuesday by real estate firm Re/Max. In the first two months of this year, 32 per cent of all sales occurred under $300,000 [...] read more... |
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Apr 5, 2011
Real estate analyst says Edmonton on the verge of a boom
Edmonton is on the verge of another real estate boom, says real estate expert Don Campbell. Robust growth in the region's gross domestic product and labour market will set off a chain of events over the next few months that will heat up housing again, [...] read more... |
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Apr 1, 2011
Calgary home prices static in March
Calgary's real estate market is in balance, with March seeing lower prices, sales and listings compared with a year ago, according to the latest report by an industry association. That's good news for people on the prowl for a new home as the average [...] read more... |
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Mar 16, 2011
Alberta economic growth to lead country in 2012
Alberta's economic growth will lead the nation in 2012, says a new report released Wednesday by TD Economics. The report forecasts GDP growth of 3.2 per cent for the province in 2012 with the national average at 2.5 per cent. For this year, TD Economics [...] read more... |
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Feb 24, 2011
Alberta housing affordability best in Canada: RBC
Alberta officially became the most affordable province in the country for home ownership in the fourth quarter of 2010 and affordability in Calgary is now the best it's been in almost six years, says a new report released Thursday by RBC. The Housing [...] read more... |
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Feb 18, 2011
Calgary new condo market showing signs of life
A year ago, the new condo market in Calgary was "mired in a slump" but today it's "starting to show more life," says a residential real estate report by the Altus Group. The economic consulting firm said the success of the planned University City project [...] read more... |
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Feb 10, 2011
Alberta housing sales growth forecast to lead country
Resale housing market activity has picked up in Alberta since last summer but "it still has some way to go before we can confidently declare it out of its lethargy," says a report released Thursday by RBC Economics. It predicts resales in the province [...] read more... |
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Feb 8, 2011
Calgary homes beat national average for investment return
Calgary homeowners earned among the highest compounded rate of return for real estate between 2000 and 2010, according to a report released Tuesday by Re/Max. The report said the average residential price in the city grew from $176,305 in 2000 to $398,764 [...] read more... |
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Jan 28, 2011
Potential buyers sit on sidelines as Calgary MLS sales start 2011 on sluggish note
As a potential first-time homebuyer, Kelly Steward has kept a close eye on Calgary's residential real estate market for the past six months. She admits she's pretty "picky" because she is searching for a property that either has a suited basement or [...] read more... |
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Jan 21, 2011
Resale house prices in Calgary expected to climb 5-7
Short-term year-over-year price growth expectations for Calgary's resale housing market is in the five to seven per cent range, according to the Conference Board of Canada. The board's Metro Resale Index, released Friday, said Calgary joins Victoria, [...] read more... |
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Jan 19, 2011
Canadian mortgages linked to strong economy
Residential mortgage credit has expanded very rapidly in Canada during the past decade, at an average of about 10 per cent per year, raising fears about the level of risk in the mortgage market and possible consequences for the broader economy, says a [...] read more... |
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Jan 17, 2011
Federal government tightens mortgage rules again
For the second time in less than one year, the federal government has tightened rules around mortgage financing amid growing concerns about how much personal debt Canadians are taking on —_a move that could add an estimated $100 a month in carrying [...] read more... |
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Jan 17, 2011
Tougher mortgage lending rules could affect number of people buying Calgary homes
Tougher mortgage lending rules announced Monday may price some people out of the real estate market this year as the federal government moves to ease the growing fears of household debt in the country. Changes announced Monday include: - the maximum mortgage [...] read more... |
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Jan 11, 2011
Calgary region housing starts soar by 47% in 2010
Housing starts in the Calgary census metropolitan area were up 47 per cent in 2010 from the previous year despite a recent slowdown in the homebuilding industry. Canada Mortgage and Housing Corp. reported Tuesday that total starts finished the year at [...] read more... |
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Jan 5, 2011
MLS sales fall in areas outside Calgary
The pace of decline for MLS residential sales in 2010 was lower in areas outside Calgary than it was within the city. In releasing its year-end MLS data, the Calgary Real Estate Board said single-family home sales and condominium sales in Calgary metro [...] read more... |
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Jan 5, 2011
Seskus: Home value assessment bump a welcome economic signal
It's time again for that post-holiday ritual that has many Calgarians scrambling for the computer -- and I'm not talking about returning those unwanted mail-order gifts. The city has released their annual property assessment for all Calgary addresses, [...] read more... |
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Dec 29, 2010
Home prices continue to decline in October
Home prices fell in October, the second straight monthly decline, led lower by Toronto and Calgary, according to a national survey released Wednesday. The Teranet-National Bank Composite House Price Index eased 0.45 per cent during the month to a reading [...] read more... |
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Dec 20, 2010
Calgary annual house price growth predicted of 5-7 in short-term
Short-term year-over-year house price growth in Calgary is expected to be in the range of five to seven per cent, says the Conference Board of Canada. In its Metro Resale Index released Monday, the board said the average MLS sale price in the city in [...] read more... |
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Dec 15, 2010
Calgary MLS sales decline by 25 in November
Residential MLS sales in Calgary fell by 25 per cent in November compared with a year ago - far eclipsing the pace of decline at the national average. The Canadian Real Estate Association said Wednesday that total MLS sales, combining all single-family [...] read more... |
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Dec 7, 2010
Bank of Canada maintains overnight rate target at 1 per cent
OTTAWA, Dec. 7 /CNW/ - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. The global economic recovery is proceeding [...] read more... |
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Nov 26, 2010
Calgary resale housing market expecting price growth
The Conference Board of Canada says Calgary's resale housing market can expect short-term year-over-year price growth at between five and seven per cent. The board, in releasing its monthly Metro Resale Index today, said Calgary is in a balanced housing [...] read more... |
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Nov 23, 2010
No sign of Canadian housing bubble: Flaherty
There is no sign that Canada has a housing bubble, Finance Minister Jim Flaherty said on Tuesday, dismissing the idea the country was facing the same kind of property crisis as Ireland. "The evidence is not there that Canada has a housing bubble. In fact, [...] read more... |
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Nov 9, 2010
Calgary, Montreal contribute to new home price rise
Montreal and Calgary were the largest contributors to the increase in the New Housing Price Index between August and September. Statistics Canada reported today that nationally the index rose by 0.2 per cent in September on a monthly basis buoyed by Montreal's [...] read more... |
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Nov 9, 2010
Alberta house prices, sales to drop next year
The Canadian Real Estate Association is forecasting house prices and sales will fall next year in Alberta. In a revised forecast released today, the national association of realtors, predicted total sales in the province will decline by 5.6 per cent in [...] read more... |
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Nov 9, 2010
Calgary industrial land selling for more than 600,000 per acre
Buyers are still cautious for Calgary and area industrial land sales this year but interest is beginning to pick up. So far this year, 53.4 hectares of industrial land has sold in the Calgary area for a total dollar volume of $70.8 million. Last year, [...] read more... |
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Nov 9, 2010
Calgary multi-family starts soar
Multi-family starts in the Calgary census metropolitan area soared in October to a level more than 90 per cent higher than a year ago. According to data released today by Canada Mortgage and Housing Corp., there were 438 multi-family units that began [...] read more... |
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Nov 8, 2010
Calgary condo project sells out first two towers
The University City new highrise condo project, planned for the Brentwood LRT station, has completely sold out the first two phases of the development. Now registration has begun for the next two phases of the transit oriented development across from [...] read more... |
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Nov 8, 2010
Canadian mortgage debt surpasses 1 trillion
Canadian mortgage debt for the first time has surpassed $1 trillion, according to the sixth Annual State of the Residential Mortgage Market report from the Canadian Association of Accredited Mortgage Professionals released today. The report also said [...] read more... |
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Nov 2, 2010
Buyers line up for Calgary condo project
Three years ago during the peak of the housing market Calgarians lined up to purchase condominiums at projects that had not even dug a hole in the ground yet. This past weekend it was a case of deja vu as condo mania swept through the sales centre at [...] read more... |
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Oct 28, 2010
More Canadians seek mortgage broker's help
The percentage of Canadians using mortgage brokers to buy their homes has increased significantly this decade. The Deloitte report, Winning Strategies in the Brokered Mortgage Marketplace, released Wednesday, said that in the 1990s mortgage brokers numbered [...] read more... |
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Oct 28, 2010
Majority of Alberta boomers mortgage-free
Alberta's boomers are the most likely in the country to have paid off their mortgage in full. The TD Canada Trust Boomer Buyers Report released Thursday said nearly six-in-10 Alberta boomers have paid off their mortgage versus 44 per cent nationally. [...] read more... |
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Oct 22, 2010
Calgary housing price increases forecast by Conference Board
Short term year-over-year price growth expectations for the Calgary housing market are in the five to seven per cent range, according to the Conference Board of Canada. In releasing its Metro Sale Index today, the board said Edmonton, Saskatoon, Gatineau, [...] read more... |
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Oct 19, 2010
Calgary house prices stabilize
Calgary house prices stabilized in the third quarter and now stand close to year-ago levels, according to the Royal LePage House Price Survey released today. Year-over-year prices for detached bungalows rose 2.7 per cent in the third quarter to $412,744. [...] read more... |
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Oct 19, 2010
Bank of Canada maintains overnight rate target at 1 per cent
Bank of Canada maintains overnight rate target at 1 per cent OTTAWA – The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate [...] read more... |
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Oct 5, 2010
Luxury home sales boom in Calgary
The sale of luxury homes remains a "bright spot" in Calgary's real estate market with sales in the high-end market booming. The Re/Max Market Trends Report Fall 2010, released Tuesday, said year-to-date (until the end of August) sales of homes over $1 [...] read more... |
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Sep 28, 2010
Calgary buyers 'circle the wagons' as home resales fall: RBC
Home resales in Calgary fell significantly through the spring and summer, reaching levels only moderately higher than the lows seen at the end of 2008 - the worst period in the housing downturn, according to the latest housing report released today by [...] read more... |
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Sep 23, 2010
Businesses see Calgary climbing out of recession
It may not feel like the heady days of 2007, but Calgary is set to take back its spot as the nation's leader in economic growth. That's according to a Conference Board of Canada report Wednesday which predicts that, after being battered and beaten in [...] read more... |
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Sep 23, 2010
Alberta to lead Canadian economy through 2011: TD report
The Prairies and Alberta in particular will have the best growth in Canada over this year and in 2011, says TD chief economist Craig Alexander. He told the 2011 Economic Outlook, hosted by Calgary Economic Development, Thursday Alberta will post 2.8 per [...] read more... |
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Sep 15, 2010
Calgary MLS sales third highest drop in country
Only Vancouver and Victoria saw a greater drop in MLS sales than Calgary in August compared with a year ago, according to the Canadian Real Estate Association. The national association of realtors reported today that sales of existing homes in Calgary [...] read more... |
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Sep 13, 2010
Mortgage arrears soar in Alberta; consumers live cheque-to-cheque
The number of Albertans behind on their mortgages has risen dramatically in the past three years with the province sporting by far the highest rate in the country. According to data as of June by the Canadian Bankers Association, there were a total of [...] read more... |
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Sep 8, 2010
Bank of Canada increases overnight target rate to 1
OTTAWA –The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. [...] read more... |
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Sep 1, 2010
Calgary MLS sales plunge in August
Calgary's slumping residential real estate market took another hit in August with sales plunging compared with a year ago and prices dropping on a monthly basis. According to the Calgary Real Estate Board, there were only 867 single-family home sales [...] read more... |
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Aug 25, 2010
High inventory, cooling sales put pressure on house prices
A high inventory of homes for sale combined with a softening demand from potential homebuyers is starting to put downward pressure on Calgary MLS prices. Preliminary and unofficial data for August month-to-date indicates prices are dropping from levels [...] read more... |
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Aug 19, 2010
Average home in Calgary sells for 451,807 on MLS
The average MLS sale price for single-family homes in the city for the past 30 days is $451,807, according to the Calgary Real Estate Board. The board says there have been 908 properties sold during that period with a median price of $395,000. As of today, [...] read more... |
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Aug 16, 2010
Conference Board gives Calgary housing market long-term thumbs up
Short-term and long-term expectations for housing starts in the Calgary census metropolitan region are positive, according to a report released today by the Conference Board of Canada. In its monthly report, the conference board said most CMA's across [...] read more... |
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Aug 13, 2010
Economist predicts steadily rising home prices for Alberta
Alberta home prices are expected to rise by 2.6 per cent this year and another 0.9 per cent in 2011, according to an analysis of the Canadian housing market by a senior economist. Robert Hogue, with RBC Economics, said in his report that the province's [...] read more... |
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Aug 12, 2010
Town and country home sales in Calgary region more resilient
MLS sales in areas outside the city have surpassed year-to-date levels compared with 2009 in contrast to what has been happening in Calgary. Recent MLS stats by the Calgary Real Estate Board indicate sales in the towns outside Calgary market are up by [...] read more... |
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Aug 10, 2010
Calgary No. 1 for real estate investment
When investing in real estate, sometimes it’s necessary to look beyond your own backyard. The Real Estate Investment Network, a national organization of investors, has compiled what it says are the top 10 Canadian cities in which to invest, with [...] read more... |
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Aug 5, 2010
Charges laid in 12M Calgary mortgage fraud scheme
Alberta Law Enforcement Response Teams (ALERT) have laid charges in a $12-million mortgage fraud scheme. During a two-year investigation, authorities determined there were 22 properties involved in the scheme. The police probe also uncovered 12 witnesses, [...] read more... |
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Aug 3, 2010
Calgary's housing market continues to cool
Calgary's housing market continued its summer slowdown in July, although prices appear stable, new figures show. The Calgary Real Estate Board said Tuesday single family home sales were down 42 per cent from the same period a year ago. Condominium sales [...] read more... |
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Jul 27, 2010
Mortage rates still affordable
The Bank of Canada raised its key overnight lending rate by 0.25% last week, no doubt setting off another round of confusion about mortgage rates and regulations. Most people will think interest rates will rise rapidly, which is not always the case, says [...] read more... |
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Jul 9, 2010
Construction of new homes in Calgary soared in June
Housing starts in the Calgary census metropolitan area soared in June compared with a year ago. According to preliminary data released today by Canada Mortgage and Housing Corp., total starts during the month were 685, up by 57.8 per cent from June 2009. [...] read more... |
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Jul 7, 2010
House prices to dip, not crash: Royal LePage
Housing prices in Canada are slowing, but aren't likely to crash, according to experts at Royal LePage. After two busy quarters, an influx of homes for sale will pull average selling prices down in the second half of the year, the realtor found. Today, [...] read more... |
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Jul 5, 2010
Most Albertans expect to pay less than asking price for home: survey
First-time homebuyers in Alberta, more than in any other Canadian province, are expecting to pay less than the asking price for their home. The first TD Canada Trust Home Buyers Report, released today, says 71 per cent of those surveyed in the province [...] read more... |
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Jul 2, 2010
Single-family, condo sales take June nosedive
MLS sales plunged in June in Calgary in both the single-family home market and condomiminums. Statistics released today by the Calgary Real Estate Board showed sales in the single-family home category of 1,061 for the month plummeted by 42.24 per cent [...] read more... |
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Jun 25, 2010
CIBC joins RBC, TD in cutting mortgage rates
OTTAWA — CIBC is the latest Canadian bank to announce lower residential mortgage rates, matching the average 0.10 per cent cut by Royal Bank of Canada and TD Canada Trust. CIBC said Friday its five-year closed mortgage rate falls to 5.89 per cent, [...] read more... |
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Jun 25, 2010
House prices likely to rise 5-7 in Calgary: Conference Board
The short-term year-over-year price growth expectation for Calgary's resale housing market is in the range of five to seven per cent, says the Conference Board of Canada. In its latest Metro Resale Index released today, the board placed Calgary in the [...] read more... |
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Jun 10, 2010
New home prices in Calgary CMA flat for April, StatCan says
New house prices in the Calgary census metropolitan area remained flat in April from the previous month but rose by more than the national average on a year-over-year basis. Statistics Canada in reporting its New Housing Price Index today said Calgary [...] read more... |
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Jun 1, 2010
Bank of Canada raises key interest rate to 0.5 percent
For the first time in nearly three years, the Bank of Canada on Tuesday hiked its key interest rate, by 25 basis points to 0.5 per cent, as the domestic economy rebounds strongly against the backdrop of an "uneven" global recovery. However, it signalled [...] read more... |
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May 25, 2010
Home ownership costs increase across Canada except Alberta says RBC report
Owning a home in Canada has become even more expensive _ unless you live in Alberta, according to the latest housing report by RBC Economics Research. The report, released Tuesday, says homeownership costs in Canada rose for the third straight quarter [...] read more... |
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May 21, 2010
Calgary a 'buyer's market' as 5-7 growth forecast: report
Calgary resale homes are expected to experience five to seven per cent year-over-year price growth in the short term, says a report released today by the Conference Board of Canada. The Metro Resale Index classified Calgary as being in a "buyer's" market. [...] read more... |
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May 10, 2010
Prudence Paying Off For Canadian Mortgage Borrowers - Spring 2010
Prudence is paying off for Canadian mortgage holders Canadian Association of Accredited Mortgage Professionals releases spring survey report on residential mortgage market Toronto, ON (May 10, 2010) – Canadians appear well prepared to face the new [...] read more... |
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May 6, 2010
Time to lock in that mortgage rate?
Taking on a mortgage is a big commitment. Every buyer who uses a mortgage has the choice of floating or going with a fixed rate that often costs a couple of percentage points higher per year. Today, for example, one can get variable rates at an average [...] read more... |
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May 4, 2010
Calgary home sales to simmer, not sizzle this year
Calgary's resale housing market is set to simmer, not sizzle in 2010, says the president of the Calgary Real Estate Board as the organization released Monday its data for MLS sales in April. Home prices during the month dropped from March levels, but [...] read more... |
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Apr 14, 2010
Variable mortgages (almost) always win
Variable mortgages (almost) always win whether they're taking on new mortgages or renewing ones they've held for years, homeowners end up asking themselves the same question: should they lock in their mortgage or should they let it float with a variable [...] read more... |
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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 [...] read more... |
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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 [...] read more... |
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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 [...] read more... |
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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 [...] read more... |
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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 [...] read more... |
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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 [...] read more... |
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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 [...] read more... |
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Feb 3, 2010
Mortgage demand at six-week highs on refinance wave
Credit: Reuters/Robert Galbraith 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, [...] read more... |
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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 [...] read more... |
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Jan 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 [...] read more... |
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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) [...] read more... |
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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 [...] read more... |
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Jan 8, 2010
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 [...] read more... |
