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 rate of 2.34% … Read More
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 remained higher on a year-over-year … Read More
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 rate. Here, toronto-based wealth Manager Scott Tomenson makes the case for … Read More
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
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
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
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
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
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
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