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Mortgage rules to push housing lower:CMHC

May 31st, 2011

Mortgage rules to push housing lower: CMHC

"Modest economic growth, in conjunction with relatively low mortgage rates, will continue to support demand for new homes in 2011 and 2012,&#8221; Bob Dugan, chief economist for CMHC, said in a release. &#8220;Nonetheless, we are expecting new and existing housing markets to fall in line with demographic fundamentals."

Housing starts and sales will fall more into line with “demographic fundamentals” this year and next, according to the latest housing outlook from the Canadian Mortgage and Housing Corporation.

 

The crown agency said it expects housing starts will range between 166,600 to 192,200 units in 2011, with a point forecast of 179,500. That’s a slight d ...

Home construction to slow in 2012

May 31st, 2011

Home construction to slow in 2012



MONTREAL - Home construction is expected to dip slightly over the next two years in Quebec, but a growing economy and new arrivals to the province will continue to buoy the housing market, the CMHC said today.

The Canadian Mortgage and Housing Corp. said it’s expecting 45,500 starts in 2011 for Quebec, followed by 44,000 starts in 2012, mostly in the categ ...

Some new condos built to crumble

May 29th, 2011

Some new Montreal condos built to crumble




MONTREAL - Geneviève Maclean’s dream home became a nightmare in October 2009 when a plumbing fixture hidden in a wall on the first floor of her condo building bust.

The leak flooded her garage space. But that wasn’t what would turn her life upside down. It wasn’t even close.

What drove her family and the six other occupants out of the ne ...

Bank`s unusal mortgage partner: real estate agents

May 27th, 2011

National Bank’s unusual mortgage partner: real estate agents

 

Competition is heating up in the mortgage business as a result of tightened government policy, and one of Canada’s major banks is turning to an unusual source to generate business: real estate agents.

Louis Vachon, the chief executive of National Bank of Canada, told analysts Thursday that relationships with real estate a ...

Canada housing prices risk slide, report finds

May 27th, 2011

Canada housing prices risk slide, report finds

anada's housing market faces a risk of sliding prices, according to a report released Wednesday that warns the current global economic rebound from the 2008 crisis could falter.

The Organization for Economic Co-operation and Development's twice-a-year economic outlook report said the world economy is in an uneven recovery and confrontin ...

Home prices continue upward trend across Canada

May 27th, 2011

Home prices continue upward climb