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Decline in Building Permits Could Explain Drop in Online Mortgage Interest

CALGARY, Alberta, March 11, 2011 — Municipalities across the country are experiencing significant declines in the value of building permits issued. Statistics Canada recently reported that permits fell unexpectedly by 5.1 per cent in January even though economists were predicting an increase of 0.5 per cent.

"Could the decline in building permits explain the drop in online mortgage interest?" says Anthony De Almeida, Chief Executive Officer of the Canadian Equity Group Inc. "Absolutely! If building construction is down, then the need for mortgages is likely to decrease as well."

According to CanEquity's internal marketing research and Google Insights for Search, Canadian's interest in online mortgage rates has dropped 20 per cent over the last year. Economists are reporting that this cycle will continue to show a decline when February numbers are released later this week. However, a moderated recovery is expected to be seen as the year plays out.

"CanEquity Mortgage is taking full advantage of this slow down to find new and interesting products that will continue to provide value to our customers," says De Almeida. "Instead of having to compete over market share or turn to products with higher commission rates, CanEquity will continue to ensure that our customers have access to the best online mortgage resource in Canadawhen they are ready."The staff at CanEquity is employed to not only provide mortgage solutions, but to provide the best quality service possible. Customer testimonials from across the countrycontinue to prove thatCanEquity lives up to this service promise.For more information, visit www.canequity.com.

News source: The Canadian Equity Group (CEG)

 

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