Canadian housing market had strong finish to 2009
Filed Under Main Content · Tagged: Commercial News, Daily News, Existing Home, First Quarter, Housing Market, Interest Rates, Late Spring, Low Mortgage, Mortgage Rates, New Home Construction, New Home Purchase, News Canada, Prelude, Residential Resales, Second Half
Daily Commercial News-
The housing market in Canada has been stronger in the second half of 2009 than was widely anticipated. That has been particularly true for residential resales.
The first quarter of 2009 was nearly disastrous for the existing home market, but all of that turned around in late spring and early summer. Record low mortgage rates have done the trick.
Potential homebuyers know that they are not likely to ever see interest rates this low again.
As for new home construction, it is worth remembering that an existing home sale is often a prelude to a new home purchase.
Canadian housing market had strong finish to 2009 – Daily Commercial News
Home prices see first annual rise in 10 months
Filed Under Main Content · Tagged: 10 Months, House Price, Lows, National Bank, Price Index, Real Estate Market, Resale Homes, Resale Prices, S Real Estate, Teranet, Vancouver Sun
Vancouver Sun- Resale prices for Canadian homes rose for a sixth consecutive month in October — and were up on an annual basis for the first time in nearly a year — as the country’s real estate market continued to recover from recessionary lows, according to a report released Wednesday.
The Teranet-National Bank resale house price index of major markets increased 1.27% during the month from September. Year-over-year, prices were up 0.57% — marking the first rise in 10 months…
Home prices see first annual rise in 10 months
A tricky dance of debt for home buyers
Filed Under Main Content · Tagged: Globe And Mail, Globe Mail, Home Buyers, House Prices, Housing Sales, Interest Rates, Negative Relationship, Statistics
Globe and Mail- Historically, the relationship between interest rates and housing sales and prices has been a complicated one. But generally, when interest rates go up, house prices go down and when interest rates go down, house prices go up. Statistics that compare house prices to interest rates demonstrate this negative relationship in a rudimentary way. More importantly, numbers of housing sales are also affected by interest rates…
A tricky dance of debt for home buyers - The Globe and Mail
Prospective home owners should stress-test their budgets against future rises in interest rates
Filed Under Main Content · Tagged: Bank Of Canada, Blogs, Bond Investors, Budgets, Consumers, Finance Department, Low Interest Rates, Matter Of Time, Prospective Home Owners, Stress Test, Wealthy Boomer
National Post-
In recent weeks, the Finance Department and the Bank of Canada have both issued warnings to consumers about not getting overextended borrowing at today’s historically low interest rates. In several recent blogs and columns, I’ve made a similar point aimed at bond investors: that it’s only a matter of time before rates start rising again.
