How much do your neighbours owe on their mortgage?
Filed Under Main Content · Tagged: Barrie, Canada, Chief Strategist, Conundrums, David Rosenberg, Discrepancy, Globe And Mail, Gluskin Sheff, Great Divergence, Housing Market, Mckenna, Mortgage, Neighbours, Schools Of Thought, Sound Banks
The Globe and Mail- One of the economic conundrums of the past year has been the great divergence in the Canadian and U.S. housing markets. While American home prices swooned in 2009, the Canadian market only stumbled before resuming its inexorable climb upward. As Barrie McKenna reported in The Globe and Mail recently, there are two schools of thought as to what’s behind this discrepancy. One suggests that Canada, with its fiscally sound banks, simply avoided the bubble. The other, bruited by David Rosenberg—chief strategist at Toronto-based Gluskin Sheff + Associates Inc.—is more pessimistic. His assessment: The Canadian housing market is overvalued, in the range of 15% to 35%. In other words, we are dangerously close to bubbledom…
How much do your neighbours owe on their mortgage? – The Globe and Mail
Mortgage demand drives bonds
Filed Under Main Content · Tagged: 1 Billion, Bmo Capital Markets, Canada Bonds, Canada Mortgage And Housing, Canada Mortgage And Housing Corp, Canadian Marketplace, Capital Bonds, Capital Mortgage, Cmt, Housing Trust, Industry Buzz, Issuance, Landscape, Media Headlines, Mortgage Bonds, Rbc Capital Markets, Runners, Td Securities
Financial Post- They were the biggest issuance in the Canadian marketplace last year. But there were no media headlines or industry buzz. The tried-and-true Canada Mortgage Bonds (CMB) churned out through a trust set up by the Canada Mortgage and Housing Corp. have been so much part of the landscape that their growth goes almost unnoticed.
But grow they did. In 2009, the Canada Housing Trust (CMT ) issued $47-billion worth of bonds. When the product was first launched in 2001 its first offering was for $2.1-billion. CIBC were the top book-runners for these bonds — selling $6.4-billion. They were followed by TD Securities, RBC Capital Markets and BMO Capital Markets…
Resale home prices rise for seventh straight month
Filed Under Main Content · Tagged: Calgary, Composite Index, Halifax, House Price, Metropolitan Markets, Montreal, National Bank, Ottawa, Price Changes, Price Index, Repeat Sales, Resale Home, Resale Prices, Rose, Single Family, Teranet, Toronto, Vancouver
Financial Post- Canadian home resale prices rose for a seventh straight month in November on gains in all six major metropolitan markets surveyed, a report released on Wednesday says.
The Teranet-National Bank composite house price index, which measures price changes for repeat sales of single-family homes, showed overall prices were up 0.8% in November from October.
Vancouver led the gains, rising 1.9%, the only market to exceed the national average. Without Vancouver, the composite index would have been up 0.5%, the report said. Toronto and Calgary both recorded gains of 0.6% in November, followed by 0.4% increases in each of Halifax and Ottawa. Montreal posted the smallest rise, up 0.1%…
Resale home prices rise for seventh straight month
An interest rate hike this summer?
Filed Under Main Content · Tagged: Bank Of Canada, Blowout, Fourth Quarter, Gdp, Globe And Mail, Globe Mail, Interest Rate Hike, News Week, Quarter Gdp, Quot
Globe and Mail-Don’t count on it. For the Bank of Canada to raise rates before the middle part of 2011 would be totally inconsistent with its current forecast. Canadian market watchers will get some good news this week.
The predictions for a "blowout" reading on fourth-quarter GDP are already out there and it is likely to be an abnormally strong number. But for anyone who thinks a big number is likely to help lock in a rate hike this summer, I would suggest that is not going to happen. In fact, my view is that the Bank of Canada will not be raising rates until mid-2011 – at the earliest…
