Good Economic News for Canada
Good ews in Canada easily goes unnoticed. Below is some good stuff:
• Canadian 10-year bond yields touch 2.00%, marking an 8-month high. = MORTGAGE RATES will have pressure to creep up! This is one of the indicators I watch.
Prospective homebuyers in Alberta confident in the market
22% are first-time purchasers in the next two years
CALGARY — A national survey of prospective homebuyers, who intend to buy within the next 24 months, indicates nearly one-in-five in Alberta are single people.
The RE/MAX Canadian Homebuying Trends Survey 2013-2014, released on Tuesday, said 42 per cent are couples and 38 per cent are families.
Calgary house prices forecast to increase 2.5% this year!
Calgary house prices forecast to increase 2.5% this year: Royal LePage
Most of Canada expecting price appreciation to flatten
CALGARY — By the end of 2013, average house prices in Calgary are expected to increase 2.5 per cent, while most of Canada is expecting price appreciation to flatten, according to the Royal LePage House Price Survey and Markey Survey Forecast released Tuesday.
Alberta’s economy has outperformed the national economy
CALGARY — The vast majority of signals on Alberta’s dashboard are sending the same message, says TD Economics.
“Things are good.”
That’s the year it’s been in the province and the year it’s expected to continue to be into 2013.
Alberta homes lead Canada for 2013
Alberta resale housing market tops Canada in annual sales growth
Forecast to lead the country again in 2013
CALGARY — Alberta will lead the country this year and in 2013 in the pace of growth in the resale housing market, according to a new forecast by the Canadian Real Estate Association.
The national association of realtors said Monday that Alberta MLS sales this year will finish up 13.1 per cent from last year to 60,800 transactions and sales will lead the country next year as well with 1.3 per cent growth to 61,600.
Calgary – #1 for Real Estate Investment
Once again, Calgary has been ranked as the top real estate investment market in the country followed by Edmonton by the Real Estate Investment Network Ltd.
In its Top Alberta Investment Towns report, REIN said that Alberta’s economy has come out on top after a few years of economic turbulence.
Residential Market Update – Mortgage Rates to stay low for a while.
A great summary of where we are today in relation to the economy and the housing market.
There have been a couple of highlights for the Canadian housing market in the past week:
- the U.S. Federal Reserve announcement that it is committed to low interest rates until 2015 and
- the latest global housing outlook that puts this country in better shape than most.
Anyone looking for a new mortgage or a mortgage renewal will likely be heartened by the American central bank’s interest rate pledge. The commitment to low rates makes it harder, but not impossible, for the Bank of Canada to move on its desire to increase rates.
The iPhone’s sexy, but ‘iSave’ is far smarter
With all the hype on the new iPhone 5, this puts it a bit into perspective.
Interesting 3 minute read.
Possible Mortgage Rate Increase from these 112.7 year lows?
We are able to watch some indicators that drive mortgage interest rates. This is how we can guess what rates are going to do over a 10 day or so period.
Right now the spread on Canadian 5 year mortgage bond is 1.795%. This is WELL BELOW the comfort zone of 1.90% and 2.10%. Can we potentially see a rise in interest rates?
NO Condo Bubble in Calgary nor Toronto!
These comments below are in addition to the report last week that said that because Toronto has:
lots of in-migration,
New to Canada migration and
no other kinds of homes being built in the inner city
they do need all of these new condos and it is not a bubble. Interesting.
Economists to condo investors: Smile!
Written by Vernon Clement Jones
Condo investors in Toronto have every reason to be keep smiling, with two separate bank reports suggesting their assets are almost certain to retain their value at the same time their cash flow gets buoyed by rental demand.