Rookie mistakes to avoid when buying a home
Filed Under Main Content · Tagged: Buying A Home, Canadian Mortgage And Housing Corporation, Cmhc, Emotions, Favour, First Time Buyers, First Time Homebuyers, Homework, House Sales, Mark Salerno, Moving, Pace, People, Rookie Mistakes
The Star-They’re often heedless, emotional, rigid and, even worse, uninformed.
Experts say they see the same rookie mistakes in first-time homebuyers who are entering the housing fray: they don’t do their research, underestimate their finances, and let their emotions carry them away.
But with falling house sales and declining prices in the GTA, first-time buyers may find that market conditions are currently in their favour.
“We’re moving towards a balanced market right now,” said Mark Salerno, GTA district manager at the Canadian Mortgage and Housing Corporation (CMHC). “Because the pace of sales has slowed, houses remain listed for longer, which gives people more time to do research, and do their homework without any pressure…”
Rookie mistakes to avoid when buying a home – thestar.com
Slow housing market drags economic indicators
Filed Under Main Content · Tagged: Canada Economy, Canada Report, Canada S Economy, Economic Index, Economic Indicators, Gauge, Housing Market, Leading Economic Indicator, Market Economy, Money, Pace, Statistics Canada
Canadian Press- Canada’s economy will continue to churn out growth, but the pace is set to slow further as the housing market cools and the U.S. economy falters, according to a Statistics Canada report released Thursday.
The Statistics Canada leading economic indicator index— a monthly gauge of where the economy appears headed in the coming months — slowed to a 0.4 per cent increase in July, after a gain of 0.7 per cent in June.
That’s the smallest gain for the index recorded in more than a year.
A cooling housing market will slow Canada’s economy going forward, but the figures still signal continuing growth…
Slow housing market drags economic indicators - Money – MSN CA
Canada’s May home resale prices up for 13th straight month, but not likely to be sustained
Filed Under Main Content · Tagged: Ahead, Canada, House Price, Last September, National Bank, Pace, Price Index, Recession, Resale Prices, Rose 13, Survey, Teranet, Toronto, Vancouver Sun
Vancouver Sun- Canadian home prices rose 1.3 per cent in May, their largest monthly gain since last September, but are unlikely to keep up the pace in months ahead, according to the Teranet-National Bank composite house price index, released Wednesday.
On an annual basis, prices rose 13.6 per cent and are now 4.2 per cent higher than their pre-recession peak.
Prices have now advanced for 13 straight months, the survey showed.
The yearly gains were strongly influenced by advances in Canada’s major markets, with Vancouver up 17.1 per cent year over year and Toronto up 16 per cent…
Canada’s May home resale prices up for 13th straight month, but not likely to be sustained
Bank of Canada bumps up rate
Filed Under Main Content · Tagged: Bank Canada, Bank Of Canada, Basis Points, Belief, Budget, Calgary Canada, Calgary Herald, Canada Banks, Caution, Commercial Banks, Economy, Global Recovery, Governments, Growth Outlook, Households, Interest Rate Decision, Pace, Prime Lending Rates, Rate Hike, Temper
Calgary Herald- The Bank of Canada raised its benchmark policy rate by 25 basis points to 0.75 per cent, even though it scaled back its growth outlook on the belief budget cutting among households and governments in advanced economies will "temper" the pace of the global recovery.
Many of Canada’s commercial banks followed suit by raising their prime lending rates.
The central bank acknowledged the economy is weaker than initially believed — but not feeble enough to call off yet another rate hike and likely more in the future.
Certainly, the interest-rate decision delivered yesterday teemed with caution. The central bank’s statement accompanying its decision highlighted how a "greater emphasis" on budget cutting among governments and households would slow the pace of the global recovery…
