Canadian Home Sales to Dip in 2008 and 2009, Real Estate Agency Says - Canadian Economic Press "Canada's resale housing market will cool in 2008 and 2009, with the number of homes sold expected to drop and the pace of price increases to slow, according to a forecast issued Tuesday by the Canadian Real Estate Association (CREA)." Read the complete article More evidence housing market cooling - … [Read more...]
Canadian Interest Rates Morning Recap
April 24, 2008 By Leave a Comment
Interest rates drop half a point - The Star.com "Bank of Canada governor Mark Carney has signalled the need for lower consumer borrowing costs and hinted further interest rate cuts may be required to shield Canada from a worse-than-expected slowdown in the United States. For the second time in eight weeks, the Bank of Canada slashed its policy-setting overnight interest rate by half a percentage … [Read more...]
Morning Interest Rates Headlines
April 3, 2008 By Leave a Comment
Requirements loosened for rental investors [Montreal Gazette] No money down if lender satisfied. Tight market in some regions prompt CMHC changes. "Budding real-estate moguls will welcome the news that Canada Mortgage and Housing Corp. has relaxed the rules for would-be Donald Trumps to purchase investment properties with no money down.The changes apply to rental properties with a maximum of … [Read more...]
Interest rates news headlines
March 3, 2008 By Leave a Comment
Scotiabank Forum Predicts Another Healthy Year Ahead For Canadian Real Estate Markets (Exchange Morning Post) TORONTO - Canadian real estate markets remain remarkably buoyant, especially in light of the deepening housing downturn in the United States and the generally softening conditions in most other advanced economies globally, according to experts who presented today at Scotiabank's Canadian … [Read more...]
Subprime mortgage news update
February 26, 2008 By 1 Comment
Canada economy to slow, risks to downside - IMF (Reuters) Canadian economic growth will slow to 1.8 percent this year and there is a risk of an even sharper downturn as weakness in the U.S. economy spreads beyond the housing sector, the International Monetary Fund said in a report on Monday. After growing about 2.5 percent in 2007, Canada's healthy economy and fiscal standing will help it … [Read more...]
Today’s Headlines: Interest Rates and Subprime Mortgage
February 19, 2008 By 2 Comments
Bank of Canada's Carney ponders degree of rate cut - (Reuters) The Bank of Canada has to weigh strong domestic demand against the spillover effects of the slowing U.S. economy when deciding how much to cut interest rates next month, Governor Mark Carney said on Monday. Carney used his first speech since becoming central bank chief on February 1 to convey that he is keeping his options open, … [Read more...]
BMO Bank of Montreal Lowers Mortgage Rates
February 15, 2008 By 6 Comments
TORONTO, Feb. 15 /CNW/ - BMO Bank of Montreal announced today it is decreasing its residential mortgage rates, effective February 16, 2008. The new rates are: Fixed Rates: To: Change: 6 month open 8.90% 0.00% 6 month convertible 7.10% 0.00% 1 year open … [Read more...]
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