Canadian Mortgage News

February 2010 National Archive

Mortgage News & Press Releases - February 2010

• Fixed or Variable Mortgage Rate? BMO Experts Offer Their Verdict
  TORONTO, Ontario, February 01, 2010 — With interest rates at a record low, a growing number of people are looking to purchase a home. Every homebuyer faces the age-old question of whether to choose a fixed or variable rate mortgage. “The question of whether to lock in to a longer-term fixed mortgage rate or stay in a variable rate has become an increasingly complex and important …
  
• Signs of Thaw in Corporate Attitudes Emerging, Says Governor Carney
  WINNIPEG, Manitoba, February 04, 2010 — With improvements in financial conditions, economic activity, commodity prices, and confidence, the Bank of Canada anticipates that there will be a relatively modest recovery this year in business fixed investment in Canada, and an acceleration of investment spending in 2011. "The first signs of a thaw in corporate attitudes have begun to emerge," …
  
• January Housing Starts
  OTTAWA, Ontario, February 08, 2010 — The seasonally adjusted annual rate 1 of housing starts reached 186,300 units in January 2010. This is an increase from an annual rate of 176,100 units in December 2009, according to Canada Mortgage and Housing Corporation (CMHC). According to final figures, actual housing starts for 2009 totalled 149,081 units, with activity improving as the year …
  
• CREA Disappointed By Bureau Tribunal Filing
  OTTAWA, Ontario, February 08, 2010 — The Canadian Real Estate Association (CREA) learned today that the Competition Bureau filed a Notice of Application with the Competition Tribunal against CREA. “CREA views the Commissioner’s decision as surprising and disappointing,” said Dale Ripplinger, President of CREA. “We do not agree with the Bureau’s position …
  
• Resale housing forecast extended to 2011
  OTTAWA – February 8, 2010 – The Canadian Real Estate Association has revised its forecast for home sales via the MLS® Systems of Canadian real estate boards in 2010, and extended the forecast to 2011. With Canadian economic growth rebounding from the recession, the unusually severe decline in sales activity in early 2009 is not expected to recur in 2010. Annual activity in …
  
• BMO asks Canadian Home Owners- How Low Can You Go?
  TORONTO, Ontario, February 12, 2010 — It’s time more Canadian homeowners and prospective buyers consider taking a shorter amortization for their mortgage, according to BMO Bank of Montreal. "While many people choose the longest length of time to pay back their mortgage, they could pay thousands of dollars more in interest in the long run,” said Jane Yuen, Senior Manager of …
  
• Statement by BMO Bank of Montreal on Changes to Canada's Mortgage Market
  TORONTO, Ontario, February 16, 2010 — "While we do not believe that Canada faces a housing bubble, we fully support the Minister's actions. Given the prospect of higher interest rates and the recent run-up in housing prices in some markets across Canada, the measures announced today are prudent. Currently, we require high ratio mortgages to be able to qualify using the 5 year rate," said …
  
• Government of Canada Takes Action to Strengthen Housing Financing
  OTTAWA, Ontario, February 16, 2010 — 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. "However, a …
  
• National resale activity edges down in January
  OTTAWA, Ontario, February 17, 2010 — According to statistics released by The Canadian Real Estate Association, the number of homes sold through the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards declined in January 2010 from the previous month. Seasonally adjusted national home sales dropped 2.8 per cent from near record levels reported in December. …
  
• Low inventory levels set stage for heated Spring market in most major Canadian ...
  KELOWNA, British Columbia, February 24, 2010 — Lack of inventory will be the greatest challenge facing housing markets across the country this Spring, according to a report released today by RE/MAX. The RE/MAX Market Trends Report 2010, which examined real estate trends and developments in 16 markets across the country, found that unusually strong activity during one of the …
  
• Manitoba's New and Resale Housing Markets Expected to Improve
  WINNIPEG, Manitoba, February 25, 2010 — Housing market analysts predict single-detached and multi-family starts in Manitoba to increase in 2010 as buyers return to the marketplace following the economic downturn in 2009. Canada Mortgage and Housing Corporation (CMHC) experts will present their outlooks today at the annual Housing Outlook Conference in Winnipeg. Attendees will hear …
  
• Bank of Canada announces appointment of Tiff Macklem as Senior Deputy Governor
  OTTAWA, Ontario, February 26, 2010 — The Board of Directors of the Bank of Canada today announced that Tiff Macklem has been appointed Senior Deputy Governor for a term of seven years beginning 1 July, 2010. His selection was made by the independent members of the Bank's Board and was approved by the federal Cabinet. Mr. Macklem, who has had a long association with the Bank of Canada, …