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March 2011 National Archive

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Mortgage News & Press Releases - March 2011

  • Bank of Canada maintains overnight rate target at 1 per cent
    OTTAWA, Ontario, March 01, 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 broadly in line with the Bank’s projection in its January Monetary Policy Report (MPR), although risks remain …
  • Scotiabank Forum Discusses the Year Ahead for the Canadian Real Estate Market
    TORONTO, Ontario, March 01, 2011 — In a presentation earlier today moderated by Scotiabank's Managing Director of Real Estate Secured Lending, David Stafford, Scotiabank's Chief Economist Warren Jestin and Senior Economist and real estate specialist Adrienne Warren were joined by Phil Soper President & CEO of Brookfield Real Estate Services to share their views on what 2011 has in …
  • Harper Government Announces Next Phase of Canada's Economic Action Plan Will ...
    OTTAWA, Ontario, March 02, 2011 — The Honourable Jim Flaherty, Minister of Finance, announced today that the next phase of Canada’s Economic Action Plan, to be introduced in Parliament on March 22, will focus on keeping Canada’s economy growing and creating better jobs for Canadians. “As we transition to the next phase of Canada’s Economic Action Plan, measures …
  • February 2011 Housing Starts
    OTTAWA, Ontario, March 08, 2011 — The seasonally adjusted annual rate 1 of housing starts was 181,900 units in February, according to Canada Mortgage and Housing Corporation (CMHC). This is up from 170,600 units in January 2011. “Housing starts moved higher in February because of increases in Ontario and the Prairies,” said Bob Dugan, Chief Economist at CMHC’s Market …
  • Majority of Canadians confident about buying a home, say housing market is ...
    TORONTO, Ontario, March 09, 2011 — An overwhelming majority of Canadians (90 per cent) are confident about real estate in Canada as an investment and 85 per cent feel that they are doing a good or excellent job of paying down their mortgage, according to the 18th Annual RBC Homeownership Study. Almost three-quarters of Canadians (73 per cent) believe that they or their family are …
  • 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 …
  • Canana's Economy Gaine Traction as Net Exports Surge: RBC Economics
    TORONTO, Ontario, March 11, 2011 — TORONTO, March 11, 2011 — On the back of solid net exports in the final quarter of 2010, Canada’s economy finished the year on a high note recording stronger than expected gains, according to the latest Economic Outlook released today by RBC Economics. The biggest support for the economy came from net exports, which added a full 4.5 …
  • Average February for Canadian home sales
    OTTAWA, Ontario, March 15, 2011 — According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity in February 2011 ran close to the five-year average for the month, continuing a theme that has characterized the past four months. Actual (not seasonally adjusted) national sales activity via the Multiple Listing Service® …
  • GTA REALTORS® Report Monthly Resale Housing Market Figures
    TORONTO, Ontario, March 16, 2011 — Greater Toronto REALTORS® reported 4,138 sales during the first two weeks of March 2011 – a five per cent decrease compared to the first two weeks of March 2010. The number of new listings also dipped – down by 15 per cent compared to the same period last year. "A positive economic outlook for the Greater Toronto Area, including steady …
  • BMO Bank of Montreal Reminds Homebuyers New Rules for Government-Backed ...
    TORONTO, Ontario, March 17, 2011 — BMO Bank of Montreal reminds Canadian homebuyers that the Government of Canada’s new rules for government-backed insured mortgages take effect on Friday, March 18. The new measures are designed to support the long term stability of the Canadian housing market, and include reducing the maximum amortization period to 30 years from 35 years for new …
  • Concerns About Global Economy Growing but Risk of Recession Small: CIBC World ...
    TORONTO, Ontario, March 17, 2011 — The tragic events in Japan have added to the growing concerns about the strength of the global economy but they should not push the world back into recession, finds the latest GPS Monthly report from CIBC World Markets Inc. While it will take time before information is available to make a complete and accurate assessment of the implications of the …
  • Minister of Finance to Host Meeting of Finance Ministers of the Americas and ...
    OTTAWA, Ontario, March 18, 2011 — Addressing economic challenges and enhancing regional trade and cross-border infrastructure will be the focus of the upcoming meeting of Finance Ministers of the Americas and the Caribbean on March 25-26 in Calgary, the Honourable Jim Flaherty, Minister of Finance, confirmed today. The meeting, which coincides with the annual meeting of the Inter-American …
  • One in five Canadians Interested in Buying U.S. Property
    TORONTO, Ontario, March 25, 2011 — As many Canadians return from south of the border after the March Break, a new survey from BMO Bank of Montreal shows they may have been doing more than visiting theme parks and beaches. The survey conducted by Leger Marketing reveals that one in five Canadians would now consider purchasing property in the United States. In the study, Canadians …
  • Bank of Canada Governor Mark Carney discusses Challenges Posed by ...
    CALGARY, Alberta, March 26, 2011 — Speaking at the Annual Meeting of the Inter-American Development Bank, Bank of Canada Governor Mark Carney called on global policymakers to work towards renewing the “rules of the game” of the international monetary system, while implementing short-term measures, such as a code of conduct for capital flows, to improve the functioning of the …
  • Japan Nuclear Incident to Have Lasting Impact on Commodity Markets, Scotiabank ...
    TORONTO, Ontario, March 28, 2011 — Scotiabank's Commodity Price Index, which measures price trends for 32 of Canada's major exports, rose by 1.1 per cent month over month (m/m) in February - the eighth consecutive monthly gain - to a level 49 per cent above the April 2009 cyclical low. While the tragic March 11 earthquake and tsunami in Japan took a toll on some commodity prices in …

 

 
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