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January 2011 National Archive

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Mortgage News & Press Releases - January 2011

  • Canadian Small Businesses Resilient through Recession: RBC Economics
    TORONTO, Ontario, January 05, 2011 — Canadian small- and medium-sized businesses (SMEs) better weathered the recession relative to large firms in the private sector, according to a new report on small businesses and the labour market from RBC Economics. "Countering concerns that smaller enterprises are generally more impacted by economic downturns, we found that smaller businesses …
  • Canadian Auto Sales Bounce Back
    TORONTO, Ontario, January 06, 2011 — Canadians returned to dealer showrooms in 2010 - significantly reversing the auto sales decline in 2009 - and are positioned to drive auto sales back to pre-recession levels in 2011. According to a new report from BMO Bank of Montreal, sales are estimated to rise from 1.56 million vehicles in 2010 to 1.62 million this year. Low interest rates, …
  • Strengthening Economic Recovery and Low Interest Rates Point to a Stronger ...
    TORONTO, Ontario, January 06, 2011 — The average price of a home in Canada increased between 3.9 and 4.6 per cent in the fourth quarter of 2010, compared to the previous year, as markets shrugged off a lackluster third quarter and returned to a post-recession growth profile. Home values are forecast to continue a moderate and steady climb in many of the country’s key housing markets …
  • Residential values expected to climb further in 2011 as housing sales ...
    MISSISSAUGA, Ontario, January 07, 2011 — Although improved economic fundamentals will have a positive impact on Canadian housing markets moving forward, the forecast for residential real estate sales remains static in most major centres in 2011, according to a report released today by RE/MAX. The RE/MAX Housing Market Outlook 2011, examining trends and developments in 26 major centres …
  • December 2010 Housing Starts
    OTTAWA, Ontario, January 11, 2011 — The seasonally adjusted annual rate 1 of housing starts was 171,500 units in December, according to Canada Mortgage and Housing Corporation (CMHC). This is down from 198,200 units in November. Actual housing starts for 2010 are being verified and will be reported in the January edition of Monthly Housing Statistics. “Housing starts moved lower …
  • Canadian Economy Moves from Stimulus to Restraint, Says BMO Economics
    TORONTO, Ontario, January 12, 2011 — The Canadian economy has geared down from its post-recession sprint, with real GDP growth expected to clock in at 2.7 per cent in 2011, according to the Provincial Monitor report issued today by the BMO Capital Markets Economics Department. Conditions favour growth in Western Canada, with Saskatchewan leading the country in …
  • Rebound in Manufacturing Raises Economic Activity in Canada's Major Cities to ...
    TORONTO, Ontario, January 12, 2011 — The recent rebound in Canadian manufacturing has seen the country's 25 largest cities regain all the economic ground lost in the recession according to CIBC World Markets' latest Canadian Metropolitan Economic Activity Index. "Recent data on manufacturing production and shipments reveal a sector that is on the mend," says CIBC Deputy Chief Economist …
  • Resale housing market solid in December
    OTTAWA, Ontario, January 14, 2011 — National resale housing activity in December 2010 was slightly above average for the month of December, according to statistics released today by The Canadian Real Estate Association (CREA). Actual (not seasonally adjusted) national sales activity via the Multiple Listing Service ® (MLS ® ) Systems of Canadian real estate Boards was down …
  • Mortgage Insurance Rule Changes
    TORONTO, Ontario, January 17, 2011 — “Canada’s housing sector is one of the principal pillars of the Canadian economy and today’s measures outlined by Finance Minister Jim Flaherty are part of reassuring Canadians that their primary asset is well protected,” said Jim Murphy, AMP, President and CEO of the Canadian Association of Accredited Mortgage Professionals …
  • The Harper Government Takes Prudent Action to Support the Long-Term Stability ...
    OTTAWA, Ontario, January 17, 2011 — The Honourable Jim Flaherty, Minister of Finance, and the Honourable Christian Paradis, Minister of Natural Resources, today announced prudent adjustments to the rules for government-backed insured mortgages to support the long-term stability of Canada’s housing market and support hard-working Canadian families saving through home ownership. …
  • Bank of Canada maintains overnight rate target at 1 per cent
    OTTAWA, Ontario, January 18, 2011 — 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 proceeding at a somewhat faster pace than the Bank had anticipated, although risks remain elevated. Private domestic demand in …
  • Bank of Canada maintains key rate at 1%
    OTTAWA, Ontario, January 18, 2011 — The Bank of Canada kept its target for the overnight rate at one per cent for the third consecutive meeting on January 18 th, 2011. Correspondingly, the Bank rate remained at 1.25 per cent and the deposit rate remains at 0.75 per cent. The Bank said that the global economic recovery was proceeding at a somewhat faster than expected pace, but noted …
  • Household Credit Growth in Canada the Slowest in Nearly a Decade: CIBC World ...
    TORONTO, Ontario, January 26, 2011 — Canadians are getting the message on cutting debt levels with growth in household credit now rising at its slowest pace since 2001, finds CIBC's latest Household Credit Analysis Report. Inflation adjusted growth in household credit in the third quarter of 2010 was the slowest in nearly ten years, while the 0.27 per cent increase in credit during …
  • Canada Topping U.S. in Real Income Gains: CIBC World Markets Inc.
    TORONTO, Ontario, January 28, 2011 — Since the start of the new millennium, Canada's real gross national income (GNI) has risen faster than that of the U.S., finds a new report from CIBC World Markets Inc. The report notes that GNI is a better measure than GDP of how much wealth an economy produces. "In real GDP terms, Canada has still trailed (the U.S.)," says Avery Shenfeld, chief …
  • Canada's Economic Action Plan Continues to Create Jobs and Economic Growth
    VAUGHAN, Ontario, January 31, 2011 — The Harper Government today released the Seventh Report to Canadians on the Implementation of the Economic Action Plan.  The report was released by Jim Flaherty, Minister of Finance, who was joined by Julian Fantino, Minister of State (Seniors). “The Economic Action Plan continues to create jobs and economic growth with more than 26,000 …

 

 
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Below is a tally of our most popular mortgage product inquiries made using our secure online application for Internet users in the province of Newfoundland and Labrador.

Mortgage Type Inquiries
Qualification22.46%
Refinance17.51%
Purchase17.25%
First-time Buyer16.44%
No Money Down13.77%
Renewal7.22%
Other5.32%
Last Tally: Apr 10 at 04:15:07
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