Good morning, Montreal. Here is a list of Real Estate market, subprime mortgage and Commercial Real Estate investment news. Soft landing predicted for real estate [Montreal Gazette] Economists say they're expecting a soft landing for the Canadian real estate market despite a new study that concludes house prices in Montreal and other major Canadian cities are overvalued by as much as 25 per cent. … [Read more...]
Old Montreal: Pedestrian only in the summertime.
March 17, 2008 By Leave a Comment
Photo: Payton Chung The administration of Mayor Gérald Tremblay announced last friday, their plans to make sections of St. Paul and Notre Dame Sts. pedestrian-only each day in the summertime. Starting from June 15 to September 15th, Rue St. Paul, between Bonsecours Market and St. Laurent Blvd., would be closed to vehicles between 11 a.m. and 6 a.m. every summer. Also Notre Dame, in front of … [Read more...]
Quebec housing starts up significantly in February
March 11, 2008 By 2 Comments
According to the latest monthly starts survey conducted by Canada Mortgage and Housing Corporation (CMHC), residential construction registered a strong increase this past month in centres with 10,000 or more inhabitants across Quebec. In fact, 2,810 housing units were started in February, or 50 per cent more than during the same period a year earlier. The dynamics were different, however, … [Read more...]
Interest rate cut will help Canadian home owners and buyers
March 5, 2008 By Leave a Comment
The interest rate cut announced today by the Bank of Canada will help Canadian home owners and buyers, according to The Canadian Real Estate Association. The Bank of Canada cut its benchmark overnight lending rate by one-half of one percentage point to 3 1/2 per cent on March 4th, and signaled further cuts in the near future. The trend-setting Bank rate, which is set 0.25 percentage points above … [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...]
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