After the boom, the bust - 05/31/08 08:24 PM
The housing market in UK follows the US and has been in decline for a few months. Below is an article from Larry Elliott at The Guardian published on Friday May 30 2008:
Any suggestion that Britain's overblown, over-hyped and over-valued property market is due for a soft landing after the … (0 comments)
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Mortgage News - 05/26/08 05:50 PM
Here is the 10 weeks 5-year bond rate as reported by the Bank of Canada.
Copyright © 1995-2008, Bank of Canada.
The gradual increase in the bond yield over the past 10 weeks confirmed the earlier RBC Economics's quaterly rate forecast that future interest rates were likely to go up. … (0 comments)
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GST On A Real Estate Transaction - 05/25/08 09:03 PM
GST Payable On A Real Estate TransactionIn British Columbia, GST is applicable to many services involved in a real estate transaction, including real estate sale commission, appraisal, home inspection, lawyer fees, etc.
The exception and exemption for GST payment are on resale homes, home mortgages, home loan and interest payments … (0 comments)
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Homes market flooded by sellers - 05/20/08 11:08 PM
Globe and Mail reported on May 14, 2008:
Home sellers flooded the markets in Toronto and Saskatoon last month, causing listings to surge to a record level in Canada.
Unit sales dropped by 6.1 per cent from the year before, but edged up by 0.8 per cent compared with March, on … (0 comments)
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Richmond April Housing Report - Detached Homes - 05/20/08 03:13 PM
Source: statistics from Real Estate Board of Greater Vancouver
Richmond Detached Home Housing Report - April 2008
The sales and listings statistics for Richmond in April continued to track the seasonal pattern of having more listings and sales. Over the past 4 months, more listings were added to the … (0 comments)
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Housing market is cooling, but by how much? - 05/16/08 03:08 PM
Eric Beauchesne, Canwest News Service Published: Thursday, May 15, 2008"
Here is a quote from Scotiabank economist Adrienne Warren
"Unlike in the U.S., home prices in Canada are not substantially overvalued, the real estate market is not overbuilt, households are not over-leveraged and overall mortgage quality is still sound, she said."
… (2 comments)
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Can interest rates stay low for long? - 05/12/08 07:56 PM
The Globe and Mail reported on May 05/2008:
"Inflation worries will drive interest rates higher: Rubin"
While the Bank of Canada may cut interest rates one more time, unrelenting pressure on food and energy prices will boost inflation over the next 12 months and force rates at least 100 basis points … (1 comments)
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UK Mortgage Defaults To Double - 05/11/08 04:36 PM
The Times: Home repossessions to double this year for mortgage defaulters
Dearer mortgage costs in the log-jammed home loans market were blamed for a rise of almost 20 per cent over the past year in court orders allowing lenders to seize properties. In a further sign of the growing financial distress, … (0 comments)
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Richmond 1st Quarter Housing Sales Report - 05/04/08 02:04 PM
The lower sales for Richmond homes in the month of January and February 2008 can be attributed to the seasonally lower yearly real estate activities. Sales picked up from a low figure of 271 to 378 in February and reached a total sales figure of 427 in March.
This … (2 comments)
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New Challenges for Vancouver's 2008 Real Estate Market - 05/03/08 04:48 PM
There are signs in Canada that interest rates may not stay low for long. Eventually, the pressure to tackle higher inflation will result in higher interest rates for Canadian. With more housing inventory and slower sales, any spike up in interest rates will affect buyers sentiment.
Housing inventory and sales … (0 comments)
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Interest Rate Spread Widening? - 05/03/08 01:12 PM
Recent increase in the bond yields and the spreads between shorter (1 and 2 years) and the longer term (5, 7 and 10 years) bond yields in the US and Canada may signal the return to a more normal rate differentials. Historically, the spread between the shorter 1 and 2-year mortgages … (0 comments)
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40 years Mortgage - 05/03/08 09:47 AM
Mortgage market enters 'uncharted waters': Scotiabank
Below is an abstract on a recent Financial Post article on 40 years mortgage and it's longterm implication to Canada's mortgage market. the
Liberalization of the Canadian mortgage-insurance market and the advent of 40-year amortizations are driving the housing market into "uncharted waters" with … (0 comments)
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