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August 2010 National Archive

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Mortgage News & Press Releases - August 2010

  • Scotiabank Changes Mortgage Rates
    TORONTO, Ontario, August 04, 2010 — Scotiabank announced today the following changes in the Bank's posted residential mortgage interest rates, effective August 5, 2010: six-month flexible closed 4.75 per cent (decreases by 0.20 per cent)
  • HST having greater impact on housing market than rising interest rates
    TORONTO, Ontario, August 05, 2010 — A survey conducted by Royal LePage Real Estate Services revealed that Ontarians and British Columbians have misconceptions about how the Harmonized Sales Tax (HST) affects real estate transactions. When respondents were asked to provide examples of comments heard from buyers and sellers regarding the HST and its effect on the housing market, almost half …
  • July Housing Starts
    OTTAWA, Ontario, August 10, 2010 — The seasonally adjusted annual rate 1 of housing starts was 189,200 units in July, according to Canada Mortgage and Housing Corporation (CMHC). The seasonally adjusted annual rate estimate of housing starts activity was revised up in June from 189,300 units to 192,300  units 2 . This results in a month-over-month decrease of …
  • Global Housing Recovery Loses Steam: Scotia Economics
    TORONTO, Ontario, August 10, 2010 — The global housing recovery appears to have cooled again after a strong first-quarter performance, according to the latest Global Real Estate Trends report released today from Scotia Economics. Based on available data for the second quarter, housing demand and prices have softened alongside moderating global growth, heightened financial market …
  • Let the Saving Begin, Canada!
    TORONTO, Ontario, August 12, 2010 — Well-known Canadian broadcaster, Valerie Pringle will kick-off a two-week, cross-Canada tour starting in Halifax on Monday, August 16 to talk to Canadians about their saving habits, challenges and successes. The tour is part of Ms. Pringle 's role as the Saving Ambassador for Scotiabank's new Let the Saving Begin program, which is designed to …
  • BC and Ontario housing markets feel effects of HST in July
    OTTAWA, Ontario, August 16, 2010 — The Canadian Real Estate Association (CREA) says national home sales activity continued to trend down in July 2010. The decline was almost entirely the result of fewer sales in British Columbia and Ontario. A slowdown in demand in these two provinces had been widely expected in July, as many purchases were brought forward into the first half of the year …
  • Minister of Finance Launches Consultations to Help Businesses Obtain Long-Term ...
    OTTAWA, Ontario, August 16, 2010 — Consultation Paper: Ensuring Businesses Access to Long-Term Mortgages The Honourable Jim Flaherty, Minister of Finance, today released a consultation paper that proposes to give businesses more flexibility in negotiating mortgage terms with lenders. Under the Interest Act, only corporations and joint stock companies can negotiate with lenders the …
  • Bank of Canada releases report assessing impact of stronger capital and ...
    OTTAWA, Ontario, August 18, 2010 — Following similar international reports by the Financial Stability Board (FSB) and the Basel Committee on Banking Supervision (BCBS), the Bank of Canada today published a comprehensive assessment of the potential impact on the Canadian economy of new global capital and liquidity standards, which are to be finalized later this year by the G-20. Using …
  • CIBC World Markets Inc. trims forecast for rate hikes and currency strength in ...
    TORONTO, Ontario, August 18, 2010 — Continuing weakness in the U.S. economy may force the Bank of Canada to put interest rate hikes on hold after September, notes a new report from CIBC World Markets Inc. "North America's story is again darkening," says CIBC's Chief Economist Avery Shenfeld in the latest Global Positioning Strategy report. "We were looking for a material second-half …
  • CREA Launches New Fall Advertising Campaign
    OTTAWA, Ontario, August 23, 2010 — The Canadian Real Estate Association (CREA) debuts a new national television commercial today featuring production and editing techniques developed specifically for this project and never before used in Canadian television advertising. Shot in HD, the new commercial is called “Faces”, and it highlights the value REALTORS® bring to one …
  • Bank of Canada Announces the Recipients of Its 2010 Law Enforcement Award of ...
    OTTAWA, Ontario, August 24, 2010 — The Bank of Canada is pleased to announce the recipients of its 2010 Law Enforcement Award of Excellence for Counterfeit Deterrence. The award was established in 2004 to recognize the work of Canadian law-enforcement personnel in deterring and preventing the counterfeiting of Canada's bank notes. This year, the Bank is presenting two awards – one …
  • Stock Market Values Already Reflect Investor Fears on an Economic Slowdown: ...
    TORONTO, Ontario, August 27, 2010 — While concerns remain in Canada and the U.S. about sluggish recoveries, investors have likely already priced an economic slowdown into the stock market, finds a new report from CIBC World Markets Inc. The report notes that although markets reacted to the recent drop in North American confidence indexes, the reality is confidence never really recovered …
  • Release of the Fiscal Monitor - June 2010
    OTTAWA, Ontario, August 27, 2010 — The Honourable Jim Flaherty, Minister of Finance, today released The Fiscal Monitor for June 2010. Highlights June 2010: budgetary deficit of $2.8 billion
  • Housing Activity Stabilizing
    OTTAWA, Ontario, August 31, 2010 — After rebounding in the second half of 2009 and early 2010, housing starts are expected to moderate in the second half of 2010. Starts are expected to stabilize at levels consistent with demographic fundamentals in 2011, according to Canada Mortgage and Housing Corporation’s (CMHC) third quarter Housing Market Outlook, Canada Edition . 1 Housing …


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