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U.S. banking system stronger, but mortgage lending still tight: Bernanke
Federal Reserve Chairman Ben Bernanke said on Thursday the U.S. banking system has made substantial progress toward becoming healthier since the financial crisis but noted there still were problem lending areas. “Conditions in the banking system — and the financial … Continue reading
Canada’s new home prices rise more than expected
OTTAWA — The prices of new homes in Canada rose by 0.3% in March from February, the 12th consecutive monthly increase, Statistics Canada said on Thursday. The increase was slightly greater than the 0.2% advance predicted by market operators. Compared … Continue reading
Ontario leads gains as March building permits rise
Statistics Canada says the pace of construction picked up again in March as the value of building permits issued rose 4.7 per cent to 6.8 billion. This follows a 7.6 per cent increase in February. The increase was led by … Continue reading
Vancouver real estate cools – could Toronto be next?
Prices continue to rise in Canada’s two largest real estate markets, but a closer look at the numbers shows two housing markets headed in different directions. Both cities have been singled out by the Canadian Real Estate Association for either … Continue reading
Canadian banks got $114B ‘bailout’ during recession
Canada’s biggest banks accepted tens of billions in bailout funds during the recession, according to a report released today by the Canadian Centre for Policy Alternatives. Canada’s banking system is often lauded for being one of the world’s safest. But … Continue reading
Average Canadian home price falls in March
Average housing prices in Canada edged down slightly last month but sales rose to the highest monthly level in close to two years. The latest nation-wide housing numbers were released by the Canadian Real Estate Agency on Monday. According to … Continue reading
Housing starts up in March with more condos, apartments
OTTAWA — CMHC says the pace of Canadian housing starts remained brisk in March, with construction of apartments and condos remaining strong. The housing agency estimates there were 14,517 actual starts in March, which translates to a seasonally adjusted annual … Continue reading
Canadians conflicted about timing of home purchase: poll
TORONTO — Canadians surveyed in a new poll appear to be conflicted about whether to buy a home this year, with a majority believing now is the right time to buy but more than 70 per cent saying they are … Continue reading
Posted in First Time Buyers, General Economy, Resale Home Sales
Tagged home ownership
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Royal Bank accused of tax scam by U.S. regulator
Royal Bank is calling “absurd” a lawsuit filed against it by U.S. regulators that alleges it engaged in hundreds of millions of dollars in sham futures trades to reap tax benefits on its holdings of company stocks. The Commodity Futures … Continue reading
Posted in Canadian Banks
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Home equity loans leave Canadians vulnerable, BoC says
OTTAWA — The Bank of Canada is again underscoring its concerns about rising household debt and home prices. And it’s not necessarily mortgage debt the central bank is most concerned about — it’s the money Canadians borrow by using their … Continue reading
Posted in Bank of Canada, General Economy, General Mortgage Info, Mortgage Refinancing
Tagged household debt
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