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October 2010 National Archive

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Mortgage News & Press Releases - October 2010

  • Bank of Canada Governor Mark Carney Discusses Employment in a Modest Recovery
    WINDSOR, Ontario, October 01, 2010 — The global economy is entering a new phase of unusual uncertainty and the recovery can be expected to be modest and uneven, Bank of Canada Governor Mark Carney told the Windsor-Essex Chamber of Commerce today. Given the current forces at play, the economic outlook and policy environment are “unusually challenging for countries caught in the …
  • Statement on Agreement with Competition Commissioner
    OTTAWA, Ontario, October 01, 2010 — The Board of Directors of the Canadian Real Estate Association (CREA) today entered into a consent agreement with the Commissioner of Competition regarding the application before the Competition Tribunal, subject to ratification by the CREA membership at its Special General Meeting in St. John’s on October 24, 2010. The agreement will be held in …
  • Canadian economic confidence drops amid uncertainty over economic recovery: ...
    TORONTO, Ontario, October 01, 2010 — Canadian confidence dropped significantly, reflecting concerns over the pace of the global economic recovery, according to the September RBC Canadian Consumer Outlook Index . After hovering around the same mark since December 2009, the overall Index fell 14 points from 108 to 94, driven by declines in all three sub-indexes that comprise the Consumer …
  • Small Businesses Identify Top Issues: Economic Trends, Interest Rates and Cash ...
    TORONTO, Ontario, October 04, 2010 — BMO Bank of Montreal announced today it will be holding over 500 special events across Canada to celebrate Small Business Week from October 17th to 23rd. “Small business week is a time to celebrate achievements and innovation; it’s an opportunity to draw attention to a vital part of the economy and our communities. It’s a time to …
  • Housing market set to return to more normal levels of activity after summer ...
    KELOWNA, British Columbia, October 05, 2010 — Residential real estate markets across Canada are set to return to more normal levels of activity after a brief summer pause, but most are unlikely to exceed robust sales posted in the final half of 2009, according to a report released today by RE/MAX. The RE/MAX Market Trends Report Fall 2010, highlighting trends and developments in 19 …
  • September Housing Starts
    OTTAWA, Ontario, October 08, 2010 — The seasonally adjusted annual rate 1 of housing starts was 186,400 units in September, according to Canada Mortgage and Housing Corporation (CMHC). This is down from 189,300 units in August. “Housing starts moved lower in September due to a decrease in urban single starts in Atlantic Canada and Ontario,” said Bob Dugan, Chief …
  • Economic Forecast Shows Federal Government Is on the Right Track
    MISSISSAUGA, Ontario, October 12, 2010 — The Honourable Jim Flaherty, Minister of Finance, today released an update of the Government's economic and fiscal projections. The update clearly demonstrates that Canada remains on track to return to a balanced budget over the medium term. "The fiscal projections set out in today's update show the Government's plan is on track," said Minister …
  • Half of Canadians struggling to save: RBC poll
    TORONTO, Ontario, October 13, 2010 — Many Canadians are having difficulty meeting their savings goals with 38 per cent indicating they are unable to save, either because they have nothing left over after paying bills (30 per cent) or because they are impulse spenders (eight per cent), according to the RBC Savings poll. More than half of Canadians find it difficult to achieve their …
  • National resale housing market further stabilizes
    OTTAWA, Ontario, October 15, 2010 — National resale housing activity edged higher for a second consecutive month in September 2010, according to statistics released by The Canadian Real Estate Association (CREA). Combined with a falling supply of homes on the market, the number of months of inventory also declined for the second consecutive month. Seasonally adjusted national home sales …
  • Bank of Canada maintains overnight rate target at 1 per cent
    OTTAWA, Ontario, October 19, 2010 — The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. The global economic recovery is entering a new phase. In advanced economies, temporary factors supporting growth in 2010 - such as the inventory cycle and …
  • Canadian House Prices Record ‘Normal’ Year-Over-Year Growth ...
    TORONTO, Ontario, October 19, 2010 — Canada’s residential real estate market saw year-over-year growth in the third quarter as fears of a double dip recession or a housing bubble faded. According to the Royal LePage House Price Survey released today, house price appreciation slowed to a more modest five per cent in the quarter, which is historically typical of balanced real estate …
  • CREA Ratifies Competition Consent Agreement
    ST. JOHN'S, Newfoundland & Labrador, October 24, 2010 — St. John’s NL – October 24, 2010 – The President of the Canadian Real Estate Association (CREA), Georges Pahud, today welcomed the decision of delegates to its Special General Meeting to approve CREA’s consent agreement with the Commissioner of Competition regarding the case before the Competition …
  • For a more upscale home, Canadian boomers plan to downsize
    TORONTO, Ontario, October 28, 2010 — For their next move, Canadian boomers are looking to downsize to smaller homes. According to the TD Canada Trust Boomer Buyers Report, four-in-five Canadian boomers say their next move will be to a smaller home, either to save money (46%) or to enjoy more luxurious features (34%). "Many boomers find that their needs and priorities have changed since …

 

 
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