From pennies to old age pensions, the Federal budget was full of unexpected quirks. Not surprisingly, the government is not comfortable with the Canada Mortgage and Housing Corporation. Ottawa has voiced concern over the activities of the Crown corporation for months now, threatening to toughen its oversight of this important economic organization. Yesterday, the budget [...]
In the forecast issued Monday, the CMHC gave the low-down on the Canadian housing market, explaining that it’s expected to stay steady through to 2013, with home prices rising moderately and the market seeing high activity. “With the Canadian economy set to expand at a moderate pace and mortgage rates expected to remain low, activity [...]
A new report predicts that Canada’s housing market is poised for a collapse and is only waiting for the trigger of rising interest rates expected for later this year — a view that flies in the face of many other forecasts. Capital Economics calculates Canadian home prices could fall by about 25 per cent — [...]
A Canada Mortgage and Housing Corporation (CMHC) report shows national housing activity slowing in 2011. However, prices are not predicted to collapse as many homebuyers have feared. Overall, housing starts in Canada will slow to rates more in line with long-term trends. Sales activity – driven by the pent up demand that pushed home sales in Canada to record [...]
As Ottawa tightens the reins on speculation in the Canadian condo market through newly introduced mortgage changes, some industry professionals have questions about how the government’s moves will dampen the practice it wants to prevent. Finance Minister Jim Flaherty announced a series of mortgage rule changes Tuesday morning, in an effort to proactively limit risks [...]
