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November 2010 National Archive

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Mortgage News & Press Releases - November 2010

  • IMF Confirms Canada's Strong Economic Management
    OTTAWA, Ontario, November 01, 2010 — The Honourable Jim Flaherty, Minister of Finance, said today an annual International Monetary Fund (IMF) statement confirms the Government’s strong economic management. “The IMF expects that Canada will continue to lead the major advanced economies in average economic growth over the next two years thanks to Canada’s Economic Action …
  • Condominiums first step to homeownership in most major centres, says RE/MAX
    TORONTO, Ontario, November 01, 2010 — Given serious escalation in detached housing values, condominium apartments and towns have now emerged as the first step to homeownership, says RE/MAX Ontario-Atlantic Canada. Affordability has fuelled buying activity across the board, according to the 2010 RE/MAX Condominium Report, highlighting trends and developments in eight Ontario markets and …
  • Employment Quality in Canada Improves to Pre-Recession Levels: CIBC World ...
    TORONTO, Ontario, November 04, 2010 — The quality of employment in Canada significantly improved in the first nine months of 2010, regaining all the ground lost during the recession, finds a new report from CIBC World Markets Inc. In a year in which the economy added close to 330,000 new jobs, employment quality increased by almost four per cent despite the fact that part-time …
  • Scotia Economics Special Report: Canada's Balance Sheet & Economic Advantages ...
    TORONTO, Ontario, November 04, 2010 — After witnessing the experiences of other countries during the global credit crisis, and living through the painful deleveraging here in the 1990s, Canadians are very cognizant of the dangers of excessive debt leverage, according to a special report released today by Scotia Economics, entitled Canada's Balance Sheet & Economic Advantages Mitigate …
  • CREA Revises Annual Resale Housing Forecast
    OTTAWA, Ontario, November 05, 2010 — The Canadian Real Estate Association (CREA) has lowered its forecast for home sales activity via the Multiple Listing Service® (MLS®)Systems of Canadian real estate Boards and Associations for 2010 and 2011. Sales activity in the third quarter of 2010 began on a weak footing, but gained traction as the quarter progressed. Improving momentum …
  • Annual State of the Residential Mortgage Market - November 2010
    TORONTO, Ontario, November 08, 2010 — Canadian homeowners are comfortable with their mortgage debt, have significant home equity and could withstand an increase in their mortgage interest rate, according to the sixth Annual State of the Residential Mortgage Market report from the Canadian Association of Accredited Mortgage Professionals (CAAMP), released today. Highlights : •The …
  • October Housing Starts
    OTTAWA, Ontario, November 08, 2010 — The seasonally adjusted annual rate of housing starts was 167,900 units in October, according to Canada Mortgage and Housing Corporation (CMHC). This is down from 185,000 units in September. “Housing starts moved lower in October due to a decrease in urban single starts in all regions, with the exception of Atlantic Canada,” said Bob …
  • Financial Reforms Should Support Economic Growth, Says Bank of Canada Governor ...
    OTTAWA, Ontario, November 09, 2010 — Canada fared relatively well during the global crisis, as a result of good policy and, in retrospect, some good fortune, Bank of Canada Governor Mark Carney said today in a speech to the International Center for Monetary and Banking Studies in Geneva, Switzerland. In his remarks, the Governor examined the attributes that helped the Canadian financial …
  • Loonie will ring in new year near parity but likely weaken this winter: CIBC ...
    TORONTO, Ontario, November 10, 2010 — The loonie's climb near parity with the U.S. dollar should hold steady into the new year but is vulnerable to a pullback before spring, notes a new report from CIBC World Markets Inc. There are a "few more months in which the loonie could flirt with levels a bit through parity," says CIBC's Chief Economist Avery Shenfeld in the latest Global …
  • Minister of Finance Welcomes Step Forward in Growth of Economic Ties With China
    OTTAWA, Ontario, November 10, 2010 — The Honourable Jim Flaherty, Minister of Finance, today welcomed an agreement with the China Insurance Regulatory Commission that designates Canada as a destination for Chinese insurance wealth management business. “Under this agreement, Chinese insurance companies will be permitted to invest in Canada, giving Canadian financial markets access …
  • Canadian Real Estate Association Introduces Hand Held House-Hunting with New ...
    OTTAWA, Ontario, November 12, 2010 — he Canadian Real Estate Association (CREA) unveiled its latest home buying and selling innovation, a new mobile application of REALTOR.ca for Windows® Phone 7. REALTOR.ca is operated by CREA, and is the most visited real estate website in Canada, with about 350 000 property listings available at any one time. “Allowing people to check out …
  • Housing Activity to Moderate in 2011
    OTTAWA, Ontario, November 15, 2010 — Housing starts are expected to continue to moderate in the last quarter of 2010. Overall, starts are forecast to stabilize at levels consistent with demographic fundamentals in 2011, according to Canada Mortgage and Housing Corporation’s (CMHC) fourth quarter Housing Market Outlook, Canada Edition . 1 Housing starts are expected to be in the …
  • National resale housing activity improves in October
    OTTAWA, Ontario, November 15, 2010 — OTTAWA – November 15th, 2010 – National resale housing activity rose for the third consecutive month in October 2010, according to statistics released by The Canadian Real Estate Association (CREA). Seasonally adjusted national home sales activity via the Multiple Listing Service ® (MLS ® ) Systems of Canadian real estate Boards …
  • Canadian Housing Not in a Bubble-BMO
    TORONTO, Ontario, November 16, 2010 — While there is growing speculation that the Canadian housing market is a bubble ready to implode, a new report from BMO Capital Markets Economics asserts that market valuation is only moderately above long-term trends. "All things considered, the Canadian housing market does not appear to be in a bubble, and is unlikely to suffer a U.S.-style …
  • Government Agrees to Sell Shares of General Motors
    OTTAWA, Ontario, November 18, 2010 — The Honourable Jim Flaherty, Minister of Finance, today confirmed that Canada GEN Investment Corporation (Canada GEN) has agreed to sell 30,453,205 shares of common stock of General Motors Company (GM) at a public offering price per share of US$33. Canada GEN has also granted the underwriters of the initial public offering the option to acquire from …
  • Canada Notes Strong Relations with China
    OTTAWA, Ontario, November 18, 2010 — Today the Honourable Chuck Strahl, Minister of Transport, Infrastructure and Communities, met with His Excellency Li Shenglin, Minister of Transport for the People’s Republic of China. “I am delighted to have had the opportunity to meet with Minister Li while he is visiting Canada,” said Minister Strahl. “Minister Li was a …
  • Minister of Finance Hosts Toronto Consultation on the Next Phase of Canada's ...
    TORONTO, Ontario, November 19, 2010 — The Honourable Jim Flaherty, Minister of Finance, today hosted in Toronto a consultation with business leaders, as part of a series of discussions with Canadians on how Canada’s Economic Action Plan will continue to shape the country’s economic future in Budget 2011. “People are concerned about the economy, jobs and their household …
  • Minister of Finance Signals Restraint as Government Maintains Focus on the ...
    OAKVILLE, Ontario, November 22, 2010 — The Honourable Jim Flaherty, Minister of Finance, today said that Budget 2011, the next phase of Canada’s Economic Action Plan, will maintain the Government’s focus on the economy, jobs and growth, and returning Canada’s books to balance. Speaking to the Oakville, Ontario, Chamber of Commerce, Minister Flaherty stated, “This …
  • Ontario REALTORS® support grow ops registry bill
    TORONTO, Ontario, November 25, 2010 — Ontario REALTORS® support private members Bill 139, ClandestineDrug Operation Prevention Act, 2010, introduced by MPP Lisa MacLeod to establish a marijuana grow operations and clandestine drug laboratory registry. “Grow-ops are major problem for homebuyers in the province and we have been urging the Ontario government to establish a …
  • BMO North America Business Study: Canadian Business Owners More Upbeat On ...
    TORONTO, Ontario, November 29, 2010 — BMO Financial Group today announced the results of a cross-border survey revealing that Canadian business owners are significantly more optimistic about the prospects for their domestic economy compared to their American counterparts. The study, conducted by Harris/Decima for BMO Financial Group, …
  • Canada's Homeownership Affordability improves for the First Time in over a ...
    TORONTO, Ontario, November 29, 2010 — After four consecutive quarters of rising homeownership costs, housing affordability improved in the third quarter of 2010 thanks primarily to a drop in mortgage rates and some softening in home prices, according to the latest Housing Trends and Affordability report released today by RBC Economics Research. "The improvement in affordability during …

 

 
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