Canadian Mortgage Broker News – Canada’s renovation market set to cool

“Homeowners typically undertake their largest renovation expenditures in the first three years following a resale home purchase,” said Warren. “With home sales having peaked in 2007, the largest share of these ‘new buyer’ renovations should be winding down.”

Canadian Mortgage Broker News – Canada’s renovation market set to cool

Improving economy, low mortgage rates to boost housing sales in B.C., CMHC says

Vancouver Sun- A new report suggests that low mortgage rates combined with a growing population and an improving economy bode well for Metro Vancouver home sales for the rest of 2010 and 2011.

“For the next year, we’re looking at favourable mortgage rates, a steady flow of migrants to the Lower Mainland, and a growing job market,” Canada Mortgage and Housing Corp. senior market analyst Robyn Adamache said in an interview about the federal agency’s housing market report that concluded sales will remain stable until mid-2011 before trending higher. “We’re looking at about 33,000 sales for Greater Vancouver [in 2011]. We’re looking at 31,000 this year. The 10-year average is about 34,000…

Improving economy, low mortgage rates to boost housing sales in B.C., CMHC says

Mortgage insurance market heating up

National Post-  Mortgage default insurance is something you have to pay if you can’t come up with a 20% down payment on your house.

You pay the premium and the insurance covers the bank in the rare event — defaults in this country are still below 1% — you don’t make your mortgage payments. But it is a transaction between your bank and your mortgage insurer.

So, why should you care about the mortgage default insurance market and another new entrant into the market…?

Mortgage insurance market heating up

Ottawa ponders further tightening of mortgage rules

Financial Post- The federal government is once again looking at tightening rules in the Canadian mortgage market, according to a source close to the situation.

Finance officials are set to meet in Ottawa on Monday with some of the country’s leading economists for pre-budget discussions and the subject of whether to tighten housing regulations may come up.

Much of the discussion about changing the mortgage rules seems to stem from comments made by the Bank of Canada governor who last week warned that consumer borrowing could not continue at its present clip…

Ottawa ponders further tightening of mortgage rules

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