Canada Mortgage and Housing Corporation’s (CMHC) 2007 Mortgage Consumer Survey shows that 78 per cent of Canadians who recently purchased a new home intend to pay off their mortgage as quickly as possible, and many have already taken steps toward that goal. Read More
Canadian consumers are sometimes confused about the impact of the sub-prime melt down in the United States, and how it may affect the housing market in Canada. To help explain the situation, CREA has prepared a “Credit Primer” that you can download. It’s available in PDF format here.
Read about the Key Differences Between the American Real Estate Market and the Quebec Market
http://karchemny.com/wp/real-estate-info/QuebecREMarket.pdf
According to Greater Montreal Real Estate Board (GMREB) statistics, the Montreal census metropolitan area (CMA) resale market posted another excellent performance in the second quarter of 2007. In all, 13,617 transactions were carried out, for an increase of 17 per cent over the corresponding quarter in 2006. Active listings in the GMREB MLS® system, for their part, declined by 5 per cent. Read More
New home starts are estimated at 227,400 in 2006, surpassing the level in 2005, reaching their second highest level in nearly two decades. However, the seasonally adjusted annual rate1 of housing starts decreased to 211,500 units in December from November’s 229,300 units, according to Canada Mortgage and Housing Corporation (CMHC). Read More
Canada Mortgage and Housing Corporation is helping to make homeownership more affordable and accessible for Canadians by eliminating homeowner high-ratio mortgage insurance application fees, and offering insurance for mortgages with longer amortizations and more flexible repayment options. Read More
“Housing starts last month were nearly unchanged from their April level,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “May marks the fourth consecutive month in which single detached starts have moved lower. Housing starts are expected to continue to trend marginally lower throughout this year and next as housing demand eases in response to rising mortgage carrying costs.” Read More
Housing starts will begin to taper off in 2006, and reach 222,200 units after hitting 225,481 units in 2005, according to Canada Mortgage and Housing Corporation’s (CMHC) second quarter Housing Market Outlook, Canada Edition report. Residential construction will continue to ease in 2007 to 204,100 units, marking 6 consecutive years in which housing starts exceed 200,000 units. “Housing starts this year will be stronger than previously forecast, mainly due to persistent strong demand in Alberta and British Columbia, but will not match last year’s pace,” said Bob Dugan, Chief Economist at CMHC. “Higher mortgage carrying costs, due to modest increases in mortgage rates, and rising house prices will temper housing demand this year and next.” Read More
As published in The Daily, Monday, March 6, 2006
The value of building permits cooled off in January from record levels set at the close of last year. Intentions rose for only one component, single-family homes. Nevertheless, January’s level was equal to the average monthly value in 2005, which was a record year for permits. Municipalities issued $5.1 billion in permits in January, down 19.3% from the record high $6.3 billion set in December. Both the residential and non-residential sectors posted declines. Read More
Canada Mortgage and Housing Corporation (CMHC) will be offering homeowner mortgage loans amortized up to 30 years as part of a pilot project to improve access to home ownership and choice for Canadians. Read More
