Housing Market
Canada's housing markets have remained robust, avoiding the steep declines in housing prices that have resulted in a continuing wave of foreclosure. The influential Washington Post lauded a more conservative Canadian mortgage market than that in the United States.
Per an Associated Press article in the Globe and Mail, US home sales "collapsed" in May, with sales tumbling a staggering 33%. This is due to the government's stimulative tax credit - part of the recovery package - expiring.
Amidst Global Economic Turbulence, Canada Remains Relatively Stable. An article in the Globe and Mail today by Michael Babad touts Canada's economy as uncommonly stable and sound.
As Canada Housing Prices Rise So Do Our Spending Habits. Statistics Canada recently revealed that average the average net worth of Canadian households has risen by almost one and a half percent (1.3% to be exact).
How Might Deflation Affect the Housing Market? For so many years, the question has always been "is inflation contained?" Well, it may be that we should be worrying about the opposite problem.
Low Sales and Stabilized Housing Prices in Canada in May. May saw the housing market relax a bit with slightly lower sales than the same period last year and prices that were, overall, stable.
The Financial Post Reports that Canadian Home Sales Have Fallen 2.6% in April 2010. In recent news, the Canadian Real Estate Association says that there were nearly 100,000 new listings of homes for sale in April 2010.
Vendor Financing - Being Creative Can Help Close a Home Sale. When one thinks of buying a home, we tend to think of going to a bank or mortgage broker to arrange for financing. But there are some creative ways to sell a home.
The US Federal Reserve Gains Confidence on the Economy as Job Market Improves. The U.S. Federal Reserve has announced that the job market is starting to show signs of improvement.
Canada's Real Estate Market Showing Signs of a Bubble, According to Edward Jones. According to a report recently released by investment firm Edward Jones, Canada's real estate market is showing two of the three characteristics of a housing bubble.
Three Major Canadian Cities Considered to be in a Housing Bubble. It seems lately that there's been an excess of articles either confirming or denying that Canada is in a housing bubble - or at least parts of Canada are.
Canadian Homeowners are Learning New Ways to Appreciate their Homeownership. While mortgage rate issues have been particularly prevalent across all types of media for the past while, it's easy to forget that the central issue for most home owners revolves around how much they can expect their house to appreciate over time.
The CMHC Has Decided that Insuring Mortgages in the Northlands is No Longer Warranted. While in this blog I've frequently discussed Vancouver and Toronto, the expensive places to live in Canada, it is sometimes easy to neglect that this is a large and expansive country and that there are many other places that are expensive to live in for many reasons.
Booming Canadian Real Estate Market - With Higher Interest Rates, New Mortgage Lending Rules and the HST Arriving Shortly, Consumers Seem to be in a Hurry to Buy Homes.
Housing Boom in Canada - Canadians are Rushing to be Approved for a New Mortgage Before the New Rules Come into Play. Will July 1st be the End of the Boom?
There is no Shortage of Predictions on the Future of Canadian Housing Market. Talk to a Mortgage Professional at CMI to Help You Make the Right Decision on Purchasing a New Home.
Last month I wrote about how home buyers were becoming wary of getting entangled in bidding wars. This week I came across this excellent article that discusses the pros and cons of creating bidding wars. It's starting to become standard practice to under price real estate and then hold all offers for a period of time. The idea is to create a multiple offer situation.
Simone Baribeau, US Editor of Money Supply at the Financial Times of London, took a swipe at Bank of Canada Governor Mark Carney recently when she questioned whether or not Canadian monetary policy has really softened the economic blow of the recession or if we just haven't hit our own U.S.-style housing crisis.
A new survey commissioned for RBC Royal Bank shows that younger Canadians are expected to take the lead in home buying in 2010. Low interest rates, new jobs and perceived "good prices" are cited as top reasons as indicated by the survey. This seems to show a definite shift in attitudes in this group of young Canadians.
While standing in line at my bank the other day I noticed that their fixed rate for a five-year closed term mortgage is 4.09 per cent. It seemed like a good deal. Later that day I noticed that a different bank had lowered their fixed rate for a five-year closed term to 3.75 per cent. In this competitive market, I'm sure that it won't be long until the other big banks follow suit.
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