Wednesday, 7 July 2010 Bank of Nova Scotia, Canadian Imperial Bank of Commerce and Laurentian Bank announced yesterday they’re reducing mortgage rates, The Gazette reports. Effective today, their benchmark five-year closed rate dropped by 10 basis points to 5.79 per cent matching changes made by Canada’s other major institutions.

Garry Marr, Financial Post ·   Existing home sales dropped sharply in Canada’s two most expensive markets, a further indication that the real estate market may have peaked. The Toronto Real Estate Board said sales in June were down 23% from a year ago, leaving activity for the quarter up 1% from the same period […]

First-time homebuyers wasn’t new, detached homes By Sunny Freeman, The Canadian Press TORONTO — A majority of Canadians who just bought or are about to buy their first home expect to pay less than the asking price and prefer newer and detached homes over older and semi-detached homes or condos, according to a TD Bank […]

(Surrey, BC) – Sales processed on the Fraser Valley Real Estate Board’s Multiple Listing Service (MLS®) increased by 23 per cent in one month going from 1,477 sales in May to 1,815 in June. June’s numbers represent an 8 per cent decrease compared to the 1,982 sales during the same month last year. Deanna Horn, […]

Weak Canadian GDP puts BoC on the spot Eric Lam, Financial Post · Friday, Jul. 2, 2010 With Canada’s economy stumbling in April, adding fuel to speculation the country’s roaring recovery that began in September 2009 was coming to an abrupt end, economists warned Canada’s central bank will have to tread carefully on its plan […]

MAJORITY OF ATTACHED HOMES IN FRASER VALLEY FALL UNDER HST THRESHOLD SURREY, BC – The Fraser Valley will offer buyers of new homes noticeable savings after July 1 when the Harmonized Sales Tax (HST) comes into effect, according to the Fraser Valley Real Estate Board. Deanna Horn, President of the board explains, “Since the majority […]

Steve Ladurantaye Real Estate Reporter  Globe and Mail Buyers backed away from Canada’s housing market in May, driving sales lower in what is traditionally the busiest month of the year for the country’s real estate agents. The housing market has been key to Canada’s economic recovery, as low  interest rates and pent-up demand drove buyers […]

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 For immediate release Housing Market Push and Pull: Economic Growth Versus Affordability   BCREA Housing Forecast – Second Quarter 2010 Vancouver, BC – June 7, 2010. BC Multiple Listing Service® (MLS®) residential sales are forecast to ease back 3 per cent from 85,028 units in 2009 to 82,350 units this year, before increasing 4 per […]

The federal privacy commissioner’s report on unsecure mortgage broker practices for protecting client information has further exposed the industry to potential fraud crimes. “If I was a professional criminal, a mortgage broker would be my main target,” said Greg Viger, accredited mortgage professional with Dominion Lending Centres Financial Ltd. in Burnaby, B.C. “Bad press like […]