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May 2010 National Archive

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Mortgage News & Press Releases - May 2010

  • U.S. consumers beginning to shed anxiety about economy: RBC Consumer Outlook ...
    NEW YORK, May 06, 2010 — Americans are beginning to shed their anxiety about the economy which has dominated consumer sentiment over the past two years, and are less pessimistic about both their local economies and job security, according to findings from the RBC Consumer Outlook Index. Driven by improving attitudes about the local economy, the RBC Consumer Outlook Index climbed to 72.7 …
  • BMO Bank of Montreal Lowers Mortgage Rates
    TORONTO, Ontario, May 07, 2010 — BMO Bank of Montreal announced today it is changing its residential mortgage rates, effective May 8, 2010. “BMO is committed to helping Canadians become mortgage-free sooner and we continue to offer the lowest rate in the market,” said Jane Yuen, Senior Manager of Mortgages, Bank of Montreal “Now is a great time to come in to get …
  • Prudence Paying Off For Canadian Mortgage Borrowers - Spring 2010
    TORONTO, Ontario, May 10, 2010 — Canadians appear well prepared to face the new phase of the residential mortgage market, where interest rates are rising and house activity is easing off, according to the sixth bi-annual review of the Canadian mortgage market by the Canadian Association of Accredited Mortgage Professionals (CAAMP), released today. Highlights: • Consumer …
  • Significant Statistics: Prudence Paying Off For Canadian Mortgage Borrowers - ...
    TORONTO, Ontario, May 10, 2010 — • There are approximately 9.3 million homeowners in Canada, including about 5.55 million with mortgages. • Almost 80 per cent of young borrowers have opted for a fixed rate mortgage or a mortgage that combines fixed and variable rates. • A small number of mortgage consumers (17 per cent) have amortization periods of …
  • April Housing Starts
    OTTAWA, Ontario, May 10, 2010 — The seasonally adjusted annual rate 1 of housing starts was 201,700 units in April, according to Canada Mortgage and Housing Corporation (CMHC), up slightly from a revised 199,200 units in March. “Higher multiple starts were nearly offset by a decline in single starts and rural area 2 starts in April. As a result, total housing starts edged higher …
  • Canada’s real estate market both competitive and secure, national survey ...
    TORONTO, Ontario, May 11, 2010 — REALTORS® polled in a recent cross-Canada survey indicated that the country’s real estate market is both highly competitive and provides the necessary safeguards to protect consumers. Eighty-six per cent of real estate professionals said they worry that severe deregulation in the real estate industry would erode standards of customer service for …
  • Canada’s hot resale housing market starting to cool
    OTTAWA, Ontario, May 17, 2010 — Home sales activity in Canada came up short of the record for the month of April and new listings continued to climb, according to statistics released by The Canadian Real Estate Association (CREA). Residential sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards numbered 52,042 units in April 2010. This …
  • Fixed or float? Combination mortgages increasing in popularity: RBC poll
    TORONTO, Ontario, May 17, 2010 — The popularity of combination mortgages - which offer both fixed and floating rate segments - is on the rise, according to RBC's 17th Annual Homeowners Survey. In fact, 40 per cent of Canadians who are likely to purchase a home within the next two years plan to take out a combination mortgage, compared to 32 per cent in 2009. The surging popularity of …
  • Housing Activity to Stabilize in 2010 and 2011
    OTTAWA, Ontario, May 19, 2010 — Housing starts rebounded in the second half of 2009 and early 2010 and will stabilize over the next two years, according to Canada Mortgage and Housing Corporation’s (CMHC) second quarter Housing Market Outlook, Canada Edition .* Following a total of 149,081 units in 2009, housing starts are expected to be in the range of 166,900 to …
  • Home ownership still affordable but becoming less so for older, lower income ...
    TORONTO, Ontario, May 25, 2010 — Home Ownership remains within reach for most Canadians but is getting increasingly difficult for families with household income less than $50,000, finds CIBC World Markets Inc.'s new Home Ownership Affordability Index. Today, Canadians spend 15.6 per cent of their average gross personal income on mortgage payments, which is about the same as ten years …
  • Canada's housing affordability worsens as home prices continue to rise: RBC ...
    TORONTO, Ontario, May 25, 2010 — Homeownership costs in Canada rose for the third straight quarter across all housing segments, as a strong real estate market and increased prices made it more expensive to own a home, according to the latest housing report released today by RBC Economics Research. "Although home ownership became more costly in the first quarter of 2010, affordability …
  • U.S. Style Home Price Correction Unlikely in Canada
    OTTAWA, Ontario, May 27, 2010 — The Canadian Real Estate Association (CREA) released a new report today indicating that home prices will stabilize, and will remain stable for some time. This means that Canadian homeowners are unlikely to experience a U.S.-style decline in the value of their homes. “The relationship between average price and income has recently been cited as …
  • Canadians Pursuing Recreational Property for Lifestyle, despite Tax Concerns ...
    TORONTO, Ontario, May 31, 2010 — Almost half of Canadians considering buying a recreational property will do so to improve their lifestyle, despite concerns about increasing taxes, rising interest rates and new regulations that require higher down payments on second homes, according to a nationwide survey of Canadian attitudes towards recreational property ownership conducted by Angus …


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