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 new report. The report – Revisiting the Canadian … Read More
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 costs for future homeowners and price others out of … Read More
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 amortization for government-backed … Read More
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 9,262 units, up from 6,318 in 2009. … Read More
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 were down 16.2 per cent and 18.1 … Read More
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, spurring anyone with Internet access to check out their home … Read More
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 of 137.32. That followed a 1.07 per cent drop in … Read More
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 November was … Read More
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 homes and condominiums, dropped to 1,427 last … Read More
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 … Read More