House price cool-down expected
Filed Under Main Content · Tagged: Bmo Capital Markets, Cool Html, Economist, Greater Victoria, House Price, House Prices, Pace
The report by Re/Max showed house prices climbed an average of 6.82 per cent every year from January 2000 to December 2010, a pace of growth that BMO Capital Markets economist Robert Kavcic described as unsustainable. The Greater Victoria rate during that period was 7.8 per cent.
House price cool-down expected
Home building ‘quickly running out of steam’
Filed Under Main Content · Tagged: Bmo Capital Markets, Boil, Canada, Deputy Chief Economist, Douglas Porter, Economists, Housing Construction, Running Out Of Steam, Single Family
Times Colonist- Housing construction in Canada is quickly coming off the boil, economists say, pointing to weaker-than-expected levels of new home starts in May.
The level of activity slipped 6.3% in the month to 189,100 units compared with expectations of 202,000 starts. April was revised up slightly to 201,800.
But “the details of today’s report were softer than the headline would suggest,” said Douglas Porter, deputy chief economist at BMO Capital Markets.
He cited the fact that the more important single-family component of starts fell for the second month in a row, off 14.1% after an 11.4% slide in April and now at an eight-month low. Multiple-unit starts also fell, down 5.6%…
Home building ‘quickly running out of steam’
Countdown begins to interest rate hikes
Filed Under Main Content · Tagged: Bank Of Canada, Benchmark Rate, Bmo Capital Markets, Countdown, Economist, Economy, First Steps, Inflation, Interest Rate Hikes, Mark Carney, Michael Gregory, Subtle Changes, Urge
Financial Post- The Bank of Canada took its first steps Tuesday toward returning the country to more normal interest rate levels by signaling a more hawkish tone on inflation and acknowledging the economy is performing better than expected on "vigorous" consumer demand.
The messages were conveyed in the Bank of Canada’s latest interest-rate statement, which kept its record-low benchmark rate of 0.25% as is and pledged to keep it there until July. But most bank watchers took note of subtle changes in the statement, compared with previous rate announcements, and there was enough there for them to begin the countdown to rate hikes.
"I suspect [governor] Mark Carney and company are starting to feel the urge to tighten — not a strong urge now, but an urge nevertheless," said Michael Gregory, senior economist at BMO Capital Markets…
Countdown begins to interest rate hikes
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…
