‘Orphan mortgages’ begin to surface  John Greenwood, Financial Post     Rod and Joyce Marentette bought their house in Chatham, Ont., a month before getting married in 2005. The economy was booming and credit was plentiful, so even though they didn’t have a down payment and Rod had recently gone through a bankruptcy, there were plenty […]

Julie Fortier, Financial Post  OTTAWA – With the Canadian economy doing surprisingly well over the past six months, many see higher interest rates from the Bank of Canada in the not so distant future, but according to a report released Thursday from CIBC’s chief economist Avery Shenfeld, rates are likely to remain at a very […]

By The Canadian Press TORONTO – Prices for all key housing types were up more than 10 per cent across Canada in the first quarter, although some markets were hotter than others. That’s according to a national real-estate survey by Royal LePage, which says the Canadian housing market will likely become more moderate as 2010 […]

News Release: April 6, 2010 BUYER’S MARKET CONTINUES IN FRASER VALLEY (Surrey, BC) – With plenty of selection and relatively modest price increases, buyers are enjoying a healthy spring market in the Fraser Valley. The Board’s Multiple Listing Service® (MLS®) recorded 1,565 sales in March, an increase of 30 per cent over February’s sales and […]

How the market will fix MLS rules Comment Eamon Hoey, Financial Post  The Commissioner of Competition recently made an application to the Competition Tribunal claiming that the Canadian Real Estate Association (CREA) uses control of the Multiple Listing Service (MLS) to impose exclusionary restrictions on the use of MLS.   The commissioner claims CREA rules […]

Canadian economy grows faster than expected in January OTTAWA – The stalwart Canadian economy marched doggedly forward in January, growing faster than anticipated thanks to a healthy boost from a manufacturing sector that appeared to be in full rebound from the recession. The month’s 0.6 per cent rise in real gross domestic product, reported today […]

Banks start interest rate shake-up | Tuesday, 30 March 2010 Four big banks have increased their posted rates on fixed mortgages, signaling the start of an upward move on record-low interest rates. Royal Bank, TD Canada Trust and Laurentian all moved their posted rates on five-year fixed mortgages by 0.6 per cent yesterday, a move […]

Higher interest rates could be coming sooner, says Bank of Canada governor By Julian Beltrame, The Canadian Press OTTAWA – Canadians could be facing higher interest rates sooner than previously thought as a result of stubborn inflation and stronger economic growth, Bank of Canada Mark Carney said Wednesday. Carney did not declare higher rates were […]

Housing market to be tamer over next decade: Scotiabank | Wednesday, 24 March 2010 Despite 2010’s strong start, Scotiabank expects the “twenty-tens” Canadian housing market to pale in comparison to the previous decade.   A report titled “Global Real Estate Trends”, released by the bank yesterday, speculated the volume of home sales transactions will increase by 10 per […]

Cost of owning a home up slightly in late 2009; will continue to rise: RBC Sunny Freeman , The Canadian Press TORONTO – Home prices will continue to rise this spring as buyers scramble to close deals ahead of expected higher interest rates, new mortgage rules and new taxes in two key markets. A report […]