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...]
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...]
Housing Starts to Fall Slightly in 2008
February 6, 2008 By Leave a Comment
OTTAWA, February 4, 2008 — Housing starts reached 228,343 units in 2007, an increase of 0.4 per cent from 227,395 in 2006, according to Canada Mortgage and Housing Corporation's (CMHC) first quarter Housing Market Outlook, Canada Edition report. In 2008, residential construction will decline to about 211,700 units, given higher mortgage carrying costs. Nevertheless, Canada's housing market … [Read more...]
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