Canadian Mortgage News

May 2011 National Archive

Mortgage News & Press Releases - May 2011

• Scotiabank Forum Offers Outlook for Alberta's Real Estate Market
  CALGARY, Alberta, May 04, 2011 — In a presentation earlier today moderated by Scotiabank's Senior Vice-President, Prairie Region, George Marlatte, Scotiabank Chief Economist Warren Jestin was joined by Ted Zaharko, Owner and Broker of Royal LePage Foothills, to share their views on the Alberta economy, as well as the outlook and trends for the Alberta real estate market. During the …
  
• Scotiabank Forum Offers Outlook for Quebec's Real Estate Market
  MONTREAL, Quebec, May 04, 2011 — The state of Quebec's real estate market was examined earlier today in presentations moderated by Scotiabank's Senior Vice President of Quebec and Eastern Ontario, Diane Giard. Scotiabank Economist Alex Koustas and Scotia Capital's Director of Portfolio Strategy, Vincent Delisle were joined by Dominic St-Pierre, Director, Network Development, Royal LePage …
  
• GTA REALTORS® Report Monthly Resale Housing Figures
  TORONTO, Ontario, May 04, 2011 — Greater Toronto REALTORS® reported 9,041 existing home sales through the TorontoMLS® system in April 2011. This result was down 17 per cent compared April 2010 when sales spiked to a new record of 10,898. While off last year’s record result, April 2011 sales were in line with the average April sales level reported over the previous five …
  
• April 2011 Housing Starts
  OTTAWA, Ontario, May 09, 2011 — The seasonally adjusted annual rate 1 of housing starts was 179,000 units in April, according to Canada Mortgage and Housing Corporation (CMHC). This is down from 184,700 units in March 2011. “Housing starts moved lower in April mostly because of decreases in multiple construction across the country and in rural starts,” said Bob Dugan, Chief …
  
• CREA Updates Resale Housing Forecast
  OTTAWA, Ontario, May 09, 2011 — The Canadian Real Estate Association (CREA) has revised its forecast for home sales activity via the Multiple Listing Service ® (MLS ® ) Systems of Canadian real estate Boards and Associations for 2011 and 2012. National sales activity is now expected to reach 441,100 units in 2011, a decline of 1.3 per cent from 2010. This is a slight …
  
• Canadians Want To Be Mortgage Free, ASAP: Scotiabank Study
  TORONTO, Ontario, May 10, 2011 — Of the nearly half of Canadians (46 per cent) who have a mortgage, 86 per cent think it's important to pay it off as soon as possible, according to a recent Scotiabank study conducted by Harris/Decima assessing the borrowing habits of Canadians. Scotiabank mortgage expert David Stafford provides advice for Canadians on how to pay off their mortgage as …
  
• Stability in the Canadian Mortgage Market & Significant Statistics
  TORONTO, Ontario, May 12, 2011 — Many Canadians are aggressively reducing their mortgages by making lump sum payments, increasing monthly payments and reducing amortization periods, revealing confidence and financial flexibility in a stable mortgage environment, according to CAAMP’s most recent survey report. Highlights
  
• Sell Your Home Smartly And Retire Sooner
  TORONTO, Ontario, May 12, 2011 — When it comes to selling a home, the majority of Canadians believe that paying too much in real estate commissions hurts their personal net worth, according to a new survey of over 730 Canadian home owners released by PropertyGuys.com. The new findings show Canadians are thinking more carefully about their home as a financial asset and are scrutinizing …
  
• Canada Is Adjusting to Global Economic Transformation, Says Bank of Canada ...
  OTTAWA, Ontario, May 16, 2011 — While Canada’s economy remains relatively well positioned, it is being buffeted by a significant transformation of the global economy, which is driven by a combination of secular trends and cyclical forces, Bank of Canada Governor Mark Carney said. “It is a time of great opportunity for Canada, but navigating the cross-currents in the global …
  
• Canadian home sales edge down in April
  OTTAWA, Ontario, May 17, 2011 — Statistics released today by The Canadian Real Estate Association (CREA), reveal that national resale housing activity softened in April when compared to March 2011. The decline in April sales activity reflects changes to mortgage regulations that came into effect previously. As anticipated, the changes pulled forward some sales activity that would have …
  
• Demand for luxury homes intensifies amid rising Canadian and global wealth
  MISSISSAUGA, Ontario, May 18, 2011 — Improved financial standing among high net worth individuals is the major factor driving strong sales activity at the top end of Canadian housing markets, according to a report released today by RE/MAX. RE/MAX Ontario-Atlantic Canada and RE/MAX of Western Canada examined 12 major centres from coast-to-coast and found that luxury sales have surged in …
  
• Canadian Housing Market Stabilizing in 2011
  OTTAWA, Ontario, May 30, 2011 — Housing starts are forecast to stabilize at levels consistent with demographic fundamentals in 2011 and 2012, according to Canada Mortgage and Housing Corporation’s (CMHC) second quarter Housing Market Outlook, Canada Edition . 1 Housing starts will be in the range of 166,600 to 192,200 units in 2011, with a point forecast of 179,500 units. In 2012, …
  
• Bank of Canada maintains overnight rate target at 1 per cent
  OTTAWA, Ontario, May 31, 2011 — The global economic recovery is proceeding broadly as expected in the Bank’s April Monetary Policy Report (MPR). The U.S. economy continues to grow at a modest pace, limited by the consolidation of household balance sheets. Growth in Europe is maintaining momentum, although the risks related to peripheral economies have increased. The disasters that …