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June 2011 National Archive

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Mortgage News & Press Releases - June 2011

  • Sales and Price Increase in May
    TORONTO, Ontario, June 03, 2011 — Greater Toronto REALTORS® reported 10,046 sales in May 2011 – up six per cent compared to May 2010. This result was the second best on record for May under the current Toronto Real Estate Board service area. The number of new listings in May, at 16,076, was down 15 per cent compared to last year. “Positive economic news and low borrowing …
  • Finance Minister Highlights Canada's Global Leadership and Actions to Preserve ...
    MONTREAL, Quebec, June 07, 2011 — An economic and fiscal performance at the front of the global pack and a determination to return to balanced budgets were key themes in a speech by the Honourable Jim Flaherty, Minister of Finance, to the Conference of Montreal the day after the tabling of the Next Phase of Canada’s Economic Action Plan. “What is a starting point …
  • May 2011 Housing Starts
    OTTAWA, Ontario, June 08, 2011 — The seasonally adjusted annual rate 1 of housing starts was 183,600 units in May, according to Canada Mortgage and Housing Corporation (CMHC). This is up from 178,700 units in April 2011. “Housing starts increased modestly in May due to an increase in multiple construction in most provinces and in rural starts,” said Bob Dugan, Chief …
  • Canada's Rental Vacancy Rate Decreases
    OTTAWA, Ontario, June 09, 2011 — The average rental apartment vacancy rate in Canada's 35 major centres 1 decreased slightly to 2.5 per cent in April 2011, from 2.9 per cent in April 2010, according to the spring Rental Market Survey 2 released today by Canada Mortgage and Housing Corporation (CMHC). “Immigration continues to be a factor in supporting rental …
  • Global Real Estate Activity Wanes as Economic Uncertainty Grows
    TORONTO, Ontario, June 09, 2011 — After some encouraging signs of revival last year, residential real estate markets in much of the developed world are losing momentum — or in some cases, even reversing course, according to the latest Global Real Estate Trends report released today by Scotia Economics. "Increasing nervousness over global economic prospects alongside rising food …
  • Stage is set for one of the Best Recreational Property Markets in Years
    Greater affordability, increased selection and pent-up demand also key factors in 2011 season KELOWNA, British Columbia, June 13, 2011 — Canada’s recreational property market is gaining serious traction as savvy purchasers take advantage of ideal conditions, setting the stage for what is expected to be the best market in recent years, according to a report released today by …
  • The Changing Face of Wealth: BMO Study Reveals That One-Third of Affluent Are ...
    TORONTO, Ontario, June 14, 2011 — BMO Harris Private Banking today released the results of a comprehensive study revealing that almost one-third (30 per cent) of high net worth Canadians — those with investable assets of $1 million or more — are new Canadians (were not born in Canada). The study, conducted by Harris Decima, also confirmed that almost all (96 per cent) …
  • Moderation Expected in Housing Market, Says Bank of Canada Governor Mark Carney
    VANCOUVER, British Columbia, June 15, 2011 — An unusually rapid recovery in the Canadian housing market played an important role in ensuring that the recession in Canada, while sharp, was also short, Bank of Canada Governor Mark Carney said today in Vancouver. The quick rebound in housing following the recent crisis was largely in response to emergency monetary policy and, as a result, …
  • Canadian home sales stable in May
    OTTAWA, Ontario, June 15, 2011 — According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity remained stable in May compared to April. Highlights:
  • Minister of Finance Stresses the Collective Need to Tackle Fiscal Challenges ...
    OTTAWA, Ontario, June 15, 2011 — The Honourable Jim Flaherty, Minister of Finance, highlighted both Canada’s growing economic and fiscal advantages and the global perils of putting off the tough decisions necessary to get fiscal houses in order during a visit to New York City today. “In good times or bad, Canada has taken the steps necessary to handle whatever challenges …
  • Savvy Albertan first time homebuyers do their homework
    2011 TD Canada Trust First Time Homebuyers Report reveals Alberta buyers least willing to pay more than asking price on a home CALGARY, Alberta, June 15, 2011 — Albertans are the most willing in the country to visit multiple open houses before they purchase their first home. In fact, one-third say that they will view more than 10 houses in their search (32% versus 26% nationally). This …
  • Greater Toronto REALTORS® Report June Mid-Month Resale Housing Market Figures
    TORONTO, Ontario, June 16, 2011 — The number of sales and the average selling price reported by Greater Toronto REALTORS® were both up during the first 14 days of June 2011. Sales through the first two weeks of June amounted to 4,787 – up 16 per cent over the same period in 2010. The average selling price for these transactions, at $477,853, was up nine per cent. “The …
  • Bank of Canada Unveils Polymer Bank Note Series: Celebrating Canada's ...
    OTTAWA, Ontario, June 20, 2011 — The Bank of Canada unveiled a new polymer bank note series today at its head office in Ottawa. Information on the polymer material and advanced new security features was released, along with the images and designs of the soon-to-be-issued $100 and $50 bank notes, and the themes for the remaining notes in the series. Minister of Finance Jim Flaherty and …
  • Minister of Finance Highlights Resilience and Stability of Canada’s ...
    TORONTO, Ontario, June 20, 2011 — In a speech to the International Insurance Society, the Honourable Jim Flaherty, Minister of Finance, described how Canada’s financial system weathered the recent global financial crisis and why Canada has become a more influential voice on the world stage as a result. “Our country has demonstrated the rewards of prudence, discipline …
  • Household Debt Slowing, But Still Growing: BMO
    TORONTO, Ontario, June 21, 2011 — Although the growth in Canadian household debt is slowing and household assets are rising, debt ratios have pushed further above levels in the United States, and more steps need to be taken to repair the household balance sheet, according to Doug Porter, Deputy Chief Economist, and Sal Guatieri, Senior Economist and Vice President, BMO Capital Markets. …
  • CMHC Survey Shows Homebuyers Taking the Time to Plan
    OTTAWA, Ontario, June 22, 2011 — Canada Mortgage and Housing Corporation (CMHC) released its 2011 Mortgage Consumer Survey today providing insight into the attitudes and behaviours of Canadian mortgage consumers. The survey found that the internet continues to be a valuable resource for homebuyers. Among recent buyers using an online search engine, the most popular search terms included …
  • CIBC Financial Report Card Poll: Canadians give themselves high marks on ...
    TORONTO, Ontario, June 23, 2011 — As report cards are sent home after another school year in households across the country, Canadians are getting their own report card on their financial performance so far in 2011. The new CIBC Financial Report Card poll reveals that Canadians feel they have earned an "A" so far in 2011 for improving their debt management, but only a "C" for building …
  • TREB Announces Proposed Virtual Office Website Policy for Scrutiny be ...
    TORONTO, Ontario, June 24, 2011 — The Toronto Real Estate Board (TREB) has published for its Members a proposal for a Virtual Office Website (“VOW”) policy, and Members will have 60 days to provide input and feedback. TREB’s VOW policy governs the use of secure password-protected websites designed to allow consumers to search and display MLS® listing data, with the …
  • CMHC Survey Shows Homebuyers Taking the Time to Plan
    OTTAWA, Ontario, June 27, 2011 — Canada Mortgage and Housing Corporation (CMHC) released its 2011 Mortgage Consumer Survey today providing insight into the attitudes and behaviours of Canadian mortgage consumers. The survey found that the internet continues to be a valuable resource for homebuyers. Among recent buyers using an online search engine, the most popular search terms included …
  • Minister Flaherty Welcomes the Passage of Bill C-3, the Supporting Vulnerable ...
    OTTAWA, Ontario, June 27, 2011 — The Honourable Jim Flaherty, Minister of Finance, today welcomed the passage of Bill C-3, which received Royal Assent in Parliament yesterday. The Supporting Vulnerable Seniors and Strengthening Canada’s Economy Act implements key measures from Budget 2011—the Next Phase of Canada’s Economic Action Plan: A Low-Tax Plan for Jobs and …
  • Renovation Spending Reaches $22.8 Billion Across 10 Major Centres
    OTTAWA, Ontario, June 29, 2011 — An estimated 1.9 million households, surveyed in 10 major centres, indicated they completed renovations last year, a slight decrease from the 2.1 million households that completed a renovation in 2009. This represents 42 per cent of homeowner households (down from 50 per cent in 2009), according to the Renovation and Home Purchase Survey 1 …

 

 
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