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April 2010 National Archive

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Mortgage News & Press Releases - April 2010

  • Don’t Get “Fooled” Again When It Comes To Your Personal ...
    TORONTO, Ontario, April 01, 2010 — Today BMO advised Canadians on how not to get “fooled” again” this April 1st by considering five resolutions to get their financial house in order. Don’t Get Fooled Into … : Thinking you don’t have to take personal responsibility for your retirement
  • Canadian Consumers - Willing but not so able: CIBC World Markets Inc.
    TORONTO, Ontario, April 01, 2010 — While consumer confidence in Canada has bounced back in the last year, CIBC World Markets Inc.'s new Consumer Capability Index finds that weak consumer fundamentals and an interest rate hike will see Canadians start to put the brakes on spending. After reaching a 15-year low in late 2008, consumer confidence, as measured by the Conference Board's …
  • Canadians losing sleep over their finances: RBC Canadian Consumer Outlook Index
    TORONTO, Ontario, April 01, 2010 — According to the March RBC Canadian Consumer Outlook Index, most Canadians (65 per cent) are losing sleep over their finances. More than one-in-four Canadians (27 per cent) are up at night worrying about paying off their debt, followed by nearly one-in-five (18 per cent) who worry about having enough for retirement and 16 per cent who worry about having …
  • Canada's Economic Action Plan Creates Jobs and Improves Social Housing in ...
    ST. CATHARINES, Ontario, April 06, 2010 — Today, Rick Dykstra, Member of Parliament for St. Catharines, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC) announced that the Government of Canada will invest in a housing co-operative with 14 projects located in St. …
  • Interest rate hikes coming but won't be steep through 2011: CIBC World Markets ...
    TORONTO, Ontario, April 08, 2010 — Expectations that the Bank of Canada will begin raising interest rates this summer are on the mark but investors shouldn't be surprised if rates remain very low by historical standards right through 2011, according to a new report from CIBC World Markets Inc. While markets may be aggressive in their expectations for rate hikes after the first increase …
  • Markets in some cities are overheated while others show modest growth
    TORONTO, Ontario, April 08, 2010 — After a buoyant, if geographically uneven start to the year, Canada’s housing market is poised to moderate as 2010 unfolds, according to the Royal LePage House Price Survey. The post-recession real estate recovery, which began in earnest in the third quarter of 2009, continued unabated in the first quarter of the year. While year-over-year unit …
  • March Housing Starts
    OTTAWA, Ontario, April 12, 2010 — The seasonally adjusted annual rate 1 of housing starts was 197,300 units in March 2010, according to Canada Mortgage and Housing Corporation (CMHC). Seasonally adjusted annual rate estimates of housing start activity were also revised up for January and February 2 . This resulted in month-over-month gains of 7.5 per cent in January (189,000 units), 6 …
  • Resale market sees nearly 100,000 homes listed for sale in March
    OTTAWA, Ontario, April 15, 2010 — Homebuyers have more choice heading into the busy spring buying season, with new supply in Canada’s resale housing market setting a record for the month of March. While resale housing demand remains strong, rising numbers of new listings are resulting in a more balanced national resale housing market. According to statistics released by The …
  • New Mortgage Lending Guidelines for Canadians
    CALGARY, Alberta, April 19, 2010 — Today will see a change in policy when it comes to lending guidelines for Canadian mortgage borrowers. The government of Canada has decided that the new rules below were necessary in order to continue to grow the economy at a steady pace without creating a mortgage or credit crisis seen elsewhere in the world. Changes to Qualifying Interest Rate …
  • Bank of Canada maintains overnight rate target at 1/4 per cent; removes ...
    OTTAWA, Ontario, April 20, 2010 — The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent. Global economic growth has been somewhat stronger than projected, with momentum in emerging-market economies increasing noticeably. Exceptional stimulus from …
  • Homebuyers e-Valuate Mortgage Options
    OTTAWA, Ontario, April 26, 2010 — The 2010 Mortgage Consumer Survey, released today by Canada Mortgage and Housing Corporation (CMHC), shows that the Internet has become an important resource for first-time homebuyers with 89 per cent indicating that they looked online for mortgage-related information, while 84 per cent researched mortgage terms and conditions before deciding on a …
  • Dramatic rebound characterizes Canada’s luxury home segment in 2010
    VANCOUVER, British Columbia, April 26, 2010 — Luxury home sales soared in the first quarter of 2010 as affluent purchasers moved to take advantage of favourable market conditions across the country, according to a report released today by RE/MAX. The RE/MAX Upper End 2010 Report, highlighting sales and trends in 13 major Canadian centres and five sub-markets, found that improved …
  • CanEquity Mortgage Shows Record First Quarter Results
    CALGARY, Alberta, April 28, 2010 — The economic climate seems to be stabilizing and many Canadians are starting to believe that things are getting back to normal. As people become more comfortable they will also become more confident in their spending. CanEquity Mortgage has experienced this increased confidence in consumer spending as the company has achieved record results in the …
  • RE/MAX Recognized as the Most Trusted Real Estate Brand in Canada
    KELOWNA, British Columbia, April 28, 2010 — RE/MAX has been awarded Most Trusted Residential REALTOR® as voted on by readers of Reader’s Digest magazine. The survey conducted for the annual awards revealed that the majority of Canadians trust RE/MAX for all their residential real estate needs, ranking RE/MAX associates five-times more ‘trusted’ than the second most …
  • Corporate Canada's low debt levels will lessen pain of rate hikes: CIBC World ...
    TORONTO, Ontario, April 29, 2010 — At a time when Canadian consumers are sitting on record levels of debt, the country's corporate sector finds itself facing the opposite situation with its debt levels at record lows. This puts Corporate Canada in a strong position to withstand future interest rate hikes, finds a new report from CIBC World Markets Inc. The report notes that corporate …
  • Government restraint will exert major drag on growth in 2011: CIBC World ...
    TORONTO, Ontario, April 29, 2010 — After engineering a massive fiscal offensive in 2009, and keeping up the fight against recession in 2010, Canadian governments will soon be pulling back on spending, putting a drag on growth in 2011, finds a new report from CIBC World Markets Inc. "With the lightest net debt burden in the G7, Canada has greater flexibility to go slow on deficit …
  • RBC offers new mortgage option for Canadians
    TORONTO, Ontario, April 29, 2010 — One of the biggest decisions facing Canadian homeowners is choosing between a fixed or variable-rate mortgage. RBC has re-introduced a third option, called RateCapper, which provides an alternative for homeowners seeking the potential interest savings of a variable-rate mortgage combined with the security of a fixed-rate mortgage. With the RBC …


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