CAAMP Stats

December 2009 Welcome to the December issue of CAAMP Stats. CAAMP recently released its fall annual report on the state of the residential mortgage market in Canada. For a copy of the report - click here For further information visit www.caamp.org Jump to a Section Bank of Canada Interest Rate Bank Prime Lending Rate US Federal Reserve Board Discount Rate Exchange Rate Government of Canada Bonds Total New Housing Starts Average MLS resale price for local markets Housing Affordability Index Bank of Canada Interest Rate September 10, 2009 0.25% October 20, 2009 0.25%* December 8, 2009 Next meeting date Source: Bank of Canada *Bank of Canada statement included reference to hold rate to end of second quarter 2010 Top of Page Bank Prime Lending Rate September 11, 2009 2.25% October 21, 2009 2.25% December 9, 2009 Next meeting date Source: Bank of Canada Top of Page US Federal Reserve Board Discount Rate September 22, 2009 0.00% – 0.25% November 4, 2009 0.00% – 0.25% December 15, 2009 Next meeting date Source: US Federal Reserve Top of Page Exchange Rate $CDN($US) October 30, 2009 .9243 November 13, 2009 .9519 November 27, 2009 .9421 Source: Bank of Canada Top of Page Government of Canada Bonds Bond Type October 28, 2009 November 12, 2009 November 25, 2009 1 year Treasury Bill 0.60% 0.54% 0.48% 3 year Benchmark Bond Yield 1.90% 1.87% 1.62% 5 year Benchmark Bond Yield 2.70% 2.70% 2.41% 10 year Benchmark Bond Yield 3.45% 3.51% 3.25% Source: Bank of Canada Top of Page Total New Housing Starts (Seasonable adjusted and annualized) Province August 2009 August 2008 September 2009 September 2008 October  2009 October 2008 Newfoundland/Labrador 2,400 3,100 2,800 3,200 2,900 3,100 PEI  1,000 700 700 500 1,200  600 Nova Scotia 4,200 3,300 4,500 4,400 4,000 4,300 New Brunswick 3,700 3,800 2,900 4,500 3,600 5,000 Quebec 47,300 43,300 41,300 70,100 37,200 48,400 Ontario 44,200 89,800 50,200 84,200 57,600 82,600 Manitoba 5,000 5,400 4,400 5,600 4,200 5,800 Saskatchewan 5,100 5,300 3,700 6,400 3,600 4,900 Alberta 18,400 22,900 22,600 57,300 25,000 24,700 British Columbia 19,200 33,500 16,200 43,900 18,200 32,300 Canada 150,500 211,100 149,300 281,300 157,400 211,800 Source: CMHC Housing Now – November 2009 and November 2008. This seasonally adjusted data goes through stages of revision at different times of the year. Top of Page Average MLS resale price for local markets City October 2008 October 2009 Halifax $224,607 $235,465 Saint John, NB $151,709 $178,632 Quebec $198,357 $219,719 Montreal $257,242 $284,024 Ottawa $280,870 $320,561 Toronto $353,018 $403,507 Hamilton/Burlington $254,004 $296,253 Winnipeg $190,374 $210,618 Saskatoon $285,310 $274,759 Calgary $388,565 $399,679 Edmonton $317,744 $318,969 Vancouver $556,682 $638,948 Victoria $469,243 $481,500 Source: Canadian Real Estate Association Top of Page Housing Affordability Index Standard Two-Storey Average Price Qualifying Income($) Affordability Measure Region Q3 2009 ($) Y/Y % ch. Q3 2009 Q3 2009 (%) Q/Q Ppt. ch. Y/Y Ppt. ch. Avg. since '85 (%) Canada 344,100 -0.3 79,100 45.8 1.2 -5.8 43.3 British Columbia 557,400 -1.2 113,600 67.6 2.9 -8.5 53.7 Alberta 368,200 -4.9 82,200 37.9 1.3 -7.5 38.5 Saskatchewan 305,500 -0.8 73,200 44.0 1.0 -4.6 37.6 Manitoba 244,900 3.5 61,300 37.5 0.3 -3.4 37.5 Ontario 362,100 -0.3 85,300 45.2 1.0 -5.8 44.0 Quebec 240,100 2.8 59,000 40.4 1.2 -3.7 39.0 Atlantic 210,000 1.3 55,000 35.9 0.4 -4.7 38.7 Toronto 522,600 0.2 115,300 57.8 1.9 -7.5 53.7 Montreal 305,800 0.7 71,300 47.4 0.8 -5.5 41.3 Vancouver 678,900 -1.9 135,500 74.2 4.3 -10.2 61.7 Ottawa 320,800 1.0 81,000 40.5 0.4 -4.4 39.5 Calgary 414,600 -4.7 88,100 38.5 2.0 -8.1 40.0 Edmonton 365,300 -2.6 83,100 38.9 0.9 -6.7 36.8 Top of Page Standard Condominium Average Price Qualifying Income($) Affordability Measure Region Q3 2009 ($) Y/Y % ch. Q3 2009 Q3 2009 (%) Q/Q Ppt. ch. Y/Y Ppt. ch. Avg. since '85 (%) Canada 205,700 -1.0 47,600 27.6 0.5 -3.6 26.9 British Columbia 275,600 -0.3 57,100 34.0 1.2 -3.9 28.0 Alberta 219,300 -7.9 48,700 22.4 0.5 -5.2 22.1 Saskatchewan 186,200 -8.7 44,600 26.8 0.8 -4.7 24.1 Manitoba 130,100 4.8 33,400 20.5 0.3 -1.6 20.9 Ontario 217,200 -0.9 51,800 27.4 0.5 -3.6 27.9 Quebec 170,300 1.2 40,700 27.8 0.1 -3.0 27.0 Atlantic 149,800 4.8 37,700 24.6 0.3 -2.5 24.7 Toronto 292,700 -1.5 65,400 32.8 1.0 -4.7 31.2 Montreal 204,500 3.9 47,100 31.3 0.9 -2.8 29.0 Vancouver 351,500 0.4 70,600 38.7 1.7 -4.4 31.4 Ottawa 209,000 1.3 51,600 25.8 0.3 -2.8 23.6 Calgary 249,500 -7.3 52,700 23.0 0.3 -5.5 22.8 Edmonton 206,000 -6.8 46,800 21.9 0.5 -4.7 18.1 Source: RBC Financial Group Housing Affordability Index, November 2009. Index based on a 25% down payment and a 25 year mortgage loan at a five year fixed rate. The higher the index, the more difficult it is to afford a home. An affordability index of 50 means that homeownership costs including mortgage payments, utilities and property taxes take up half of a typical household's monthly pre-tax income.

CRISE DE L'IMMOBILIER AU QUÉBEC ( statistiques de vente, Prévision du marché au Quebec, articles divers sur la maison ) - MaisonsWEB.com - André Boivin Agent immobilier - La Capitale - immobilier

CRISE DE L'IMMOBILIER AU QUÉBEC ( statistiques de vente, Prévision du marché au Quebec, articles divers sur la maison ) - MaisonsWEB.com - André Boivin Agent immobilier - La Capitale - immobilier

Québec serait à l'abri de la crise financière

Source: Cyberpresse - Le Soleil- Isabelle Houde

Grâce à son économie axée sur les services et son taux de chômage très bas, la grande région de Québec serait relativement à l'abri des soubresauts de l'économie américaine, selon certains spécialistes du marché immobilier.

«À Québec, le taux de chômage est un des plus bas au Canada», mentionne Gina Gaudreault, directrice générale de la Chambre immobilière de Québec. «Les gens ont un emploi, de bons salaires et ils n'ont pas peur d'investir dans une propriété.» François Des Rosiers, professeur titulaire en gestion urbaine et immobilière à l'Université Laval, abonde dans le même sens. «La région de Québec est moins touchée parce qu'elle bénéficie d'une économie axée sur les services, le gouvernement, l'administration publique et l'éducation, explique l'économiste. Ça vient tempérer les fluctuations, contrairement à d'autres régions qui sont tributaires de l'exportation, et donc, du pouvoir d'achat des États-Unis.»

C'est dans l'industrie du tourisme que la région de Québec pourrait ressentir des effets de la crise financière. «Si les Américains ont peu d'argent, ils viennent moins en visite à Québec», pense M. Des Rosiers. Nous ne sommes pas à l'abri de tout.»

Pas comme aux États-Unis

Selon les deux spécialistes du marché immobilier, il n'y aurait pas lieu à paniquer, malgré la mise en garde de certaines sociétés de courtage et d'investissement comme Merrill Lynch. «Je ne m'attends pas à un effondrement du marché immobilier au Québec, soutient François Des Rosiers. Il y aura probablement un plafonnement des valeurs des maisons et peut-être une légère baisse dans les zones périphériques, mais c'est un marché encore très solide.»

«La crise immobilière aux États-Unis a commencé en juillet 2007 et ça n'a peu eu d'effet sur le marché de Québec. Les prix et le nombre de maisons en vente sont même en hausse pour l'instant», souligne Gina Gaudreault. Elle explique ce phénomène par des différences majeures entre la gestion des hypothèques ici et chez nos voisins américains. «Ici, il y a une couverture des risques notamment grâce à l'assurance des prêts hypothécaires auprès de la Société canadienne d'hypothèques et de logement», mentionne-t-elle.

«Au Québec, le refinancement hypothécaire se fait jusqu'à concurrence de 80 %, voire 95 % de la valeur de la maison, explique M. Des Rosiers. Mais il y a un suivi périodique des prêts et les institutions financières ont un droit de regard sur l'utilisation des fonds.» Aux États-Unis, le refinancement du prêt hypothécaire peut atteindre 110 % et l'utilisation de cet argent n'est pas encadrée. «Ça encourage le surendettement», résume l'économiste. La spéculation est aussi plus importante chez les Américains. «Au Québec, il y a très peu de spéculation. On achète une propriété pour l'habiter. Ce n'est vraiment pas dans l'optique d'investir pour ensuite revendre», souligne Gina Gaudreault.

Rudy Le Cours : Les piliers de la sécurité financière | Planification financière

Rudy Le Cours : Les piliers de la sécurité financière | Planification financière

Rudy Le Cours

La Presse

(Montréal) Même si deux travailleurs canadiens sur cinq seulement adhèrent à un régime de retraite parrainé par leur employeur, c'est dans ces caisses que se retrouve le plus grand bassin de capital dédié à la retraite.

La sécurité financière des retraités canadiens repose sur trois piliers bien distincts: la sécurité sociale, l'épargne individuelle et les fonds de retraite parrainés par les employeurs.

La sécurité sociale touche le plus grand nombre d'individus, mais c'est le pilier où se retrouve le moins d'argent. Fin 2008, le Régime de pensions du Canada (RPC) et le Régime des rentes du Québec (RRQ) totalisaient quelque 140 milliards, soit à peine 7,6% de l'épargne-retraite, selon une récente étude spéciale de Statistique Canada parue dans le numéro de novembre de L'Observateur économique canadien (OEC). Pas moins de 12,3 millions de Canadiens cotisaient à un ou l'autre des régimes. La sécurité sociale inclut aussi la pension de vieillesse et le supplément de revenu minimum garanti, deux programmes fédéraux qui ne sont pas capitalisés.

Du côté des régimes enregistrés d'épargne retraite, la cagnotte accumulée par 6,3 millions de Canadiens s'élevait à 631 milliards ou 34,4% de l'épargne-retraite à la fin de l'an dernier.

Enfin, 5,9 millions de Canadiens participaient à un régime complémentaire de retraite parrainé par leur employeur. L'actif total de ces quelque 19 000 régimes s'élevait à 1064 milliards, fin 2008. Ils représentent 58,0% du total des actifs de retraite.

(Selon le dernier Rapport annuel de la Régie des rentes, près de 1,5 million de travailleurs québécois (42%) participaient l'an dernier à un régime complémentaire de retraite. Les participants étaient regroupés dans plus de 2900 régimes dont 1423 étaient sous la surveillance de la Régie.)

«Grâce aux actifs de retraite, le total des actifs financiers des ménages a plus que triplé pour passer de 1200 milliards en 1990 à juste un peu plus de 4000 milliards en 2007», constatent Philip Cross et Joe Wilkinson, qui signent l'analyse parue dans l'OEC.

Comme tout le monde, ils observent aussi que «les régimes de retraite du secteur privé ont affiché la plus faible croissance depuis 1999 malgré une augmentation des cotisations».

Cela s'explique par les deux krachs boursiers et par la maturité accrue de la plupart des fonds. La maturité mesure le rapport entre le nombre de participants actifs (cotisants) et le nombre de retraités.

Prix des maisons neuves: Québec au 1er rang | Immobilier

Prix des maisons neuves: Québec au 1er rang | Immobilier

Les prix des logements neufs ont progressé de 0,3% en octobre au Canada, selon les chiffres publiés vendredi par Statistique Canada.

Parmi les principales villes visées par l'enquête de l'agence fédérale, Québec est celle où les prix ont le plus augmenté de septembre à octobre, soit de 1,1%. Vancouver est arrivée au deuxième rang avec un gain de 0,7%. Hamilton ainsi que le Grand Sudbury et Thunder Bay ont tous les deux enregistré des hausses de 0,5%.

Au Nouveau-Brunswick, pour l'ensemble Saint-Jean, Fredericton et Moncton, Statistique Canada fait état d'une stagnation dans les prix des logements neufs d'un mois à l'autre.

Deux villes seulement au Canada ont enregistré des baisses mensuelles des prix des logements neufs, soit Charlottetown (-0,7%) et Edmonton (-0,3%).

Par rapport à octobre 2008, l'Indice des logements neufs en octobre dernier a reculé de 2,1%. Encore là, la ville de Québec a enregistré la hausse la plus forte, soit 7,5%.

Les acheteurs de maisons sont frileux | Immobilier

Les acheteurs de maisons sont frileux | Immobilier

Une enquête menée auprès d'agents immobiliers par la firme Royal LePage indique que les acheteurs de maisons canadiens s'inquiètent toujours de la stabilité de l'économie, mais qu'ils sont peu nombreux à attendre un nouveau recul des prix.

Trente-huit pour cent des agents interrogés ont répondu que l'instabilité économique arrivait en première place des préoccupations des acheteurs au cours des trois derniers mois.

Vingt-trois pour cent des agents ont dit que les acheteurs craignaient ne pas réussir à vendre leur maison actuelle à un prix raisonnable, tandis que 12% hésitaient parce qu'ils croient que les prix glisseront encore.

Et 20% des agents ont répondu que les acheteurs n'exprimaient pas d'inquiétude.

L'étude a aussi établi qu'un nombre croissant de Canadiens achètent des maisons en guise d'investissement, et que plusieurs prévoient procéder à des rénovations après avoir acheté.

L'étude a été menée en novembre auprès de 1225 agents de Royal LePage.

«Compte tenu de la volatilité du marché immobilier depuis 18 mois, il n'est pas surprenant de voir de que l'état de l'économie continue à préoccuper les Canadiens lorsqu'ils étudient l'achat d'une maison», a observé le président et chef de la direction de Royal LePage, Phil Soper.

«Notre enquête démontre que la confiance des consommateurs revient à des niveaux normaux, a-t-il ajouté. Les Canadiens croient clairement que l'impact le plus important de la récession est passé et que le marché immobilier se dirige vers un redressement durable.

Hausse de 0,7% des mises en chantier d'habitations | Macro-économie

Hausse de 0,7% des mises en chantier d'habitations | Macro-économie

Le nombre de mises en chantier d'habitations au Canada a augmenté de 0,7% d'octobre à novembre derniers, pour s'établir à 158 500.

Ces données publiées par la Société canadienne d'hypothèques et de logement (SCHL), mardi, sont désaisonnalisées et annualisées (multipliées par 12) afin de corriger les variations saisonnières, et portent sur toutes les régions du pays, soit les régions rurales ainsi que les centres urbains de 10 000 habitants et plus.

Dans les régions rurales, le nombre de mises en chantier est resté inchangé d'octobre à novembre, alors que pour les centres urbains, il est passé de 140 000 en octobre à 141 100 en novembre.

Au Québec, dans les centres urbains, le nombre de mises en chantier, toujours en données désaisonnalisées et annualisées, est passé de 31 900 en octobre à 35 100 en novembre.

En comparaison, en Ontario, une baisse a été observée. Le nombre de mises en chantier y est passé de 55 700 en octobre à 51 100 en novembre.

Une baisse a aussi été enregistrée dans la région de l'Atlantique, alors que dans les Prairies et en Colombie-Britannique, le nombre de mises en chantier était en hausse en novembre par rapport à octobre.

Par catégorie d'habitations, pour l'ensemble du pays, le nombre de mises en chantier a fléchi quelque peu pour ce qui est des logements collectifs, passant de 72 500 à 71 300, mais a grimpé de 3,4% du côté des maisons individuelles pour s'établir à 69 800.

Mortgage Journal Update

The January/February issue of Mortgage Journal magazine is now available online. To begin reading - click here

Mortgage rate as of 25/01/2010

Our commitment:
* Negociate on your behalf the best interest rates and loan conditions
* Provide you with a pre-approval service
* Explain to you the range of government programs (Home Buyers Plan, ...)
* Protect your mortgage rate for up to 120 days
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Mortgage product	Posted rate	Our rate
5 years Variable	3.75 %	2.05 %
5 years Var Promo PAP	2.25 %	2.00 %
1 year	4.35 %	2.33 %
1 year open	6.55 %	6.55 %
2 years	3.95 %	2.95 %
3 years	5.25 %	3.25 %
4 years	5.14 %	3.89 %
5 years	6.10 %	3.84 %
6 years	6.10 %	4.69 %
7 years	6.60 %	5.19 %
9 years	5.67 %	5.37 %
10 years	6.95 %	5.35 %
15 years	9.55 %	9.25 %
18 years	9.55 %	9.25 %
25 years	9.65 %	9.35 %

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Why work with a Mortgage Broker?

Why work with a Mortgage Broker?
	Today, about 30% of Canadian homeowners arrange their mortgages through mortgage brokers – independent specialists with extensive knowledge of mortgage lenders’ product offerings, their features and benefits, and contacts throughout the lender community to ensure competitive rates. What can a Mortgage Broker do for you? Mortgage Brokers are experts dedicated to finding the right mortgage solution and simplifying the mortgage financing process. The Broker will take the time to understand your individual situation and tailor the best solution from among the hundreds of products available to today’s homebuyers. Brokers complete all the paperwork and keep up-to-date on industry issues and changes that could affect the decision you make about which mortgage solution is right for you. A Mortgage Broker will save you time. Comparison shopping involves going from lender to lender repeating your story, asking the same questions and analyzing the answers. That’s time most people don’t have. On top of that, home financing is highly competitive and each product can be complex, which is why you should have an expert on your side. A Mortgage Broker will also work with you on strategies to manage monthly payments or improve your credit rating. Questions to ask your mortgage broker: 1. How long have you been a mortgage broker? 2. How long has your company been in business? 3. Can I get references from your clients? 4. How do mortgage brokers make money? 5. What is your experience with this type of transaction? 6. What is the process for closing my mortgage? 7. How quickly can it be done? 8. Which lenders do you work with and why?
			Why work with a Broker?
				Save time & perhaps money Industry expertise/knowledge Strategies to help you

Bank of Canada: Business Outlook Survey and Senior Loan Officer Survey

Business Outlook Survey

Senior Loan Officer Survey

Jamie Golombek's 10 tax tips

Jamie Golombek's 10 tax tips

The 'new normal' bodes well for stocks

Economic Outlook

The 'new normal' bodes well for stocks

By Ben Tal

Forecasts for economic growth during the recovery are modest but that may actually prove positive for equities

Despite blowout earnings numbers stateside and decent Canadian ones, North American markets have recently slipped as investors have questioned how exactly the recession will end and recovery take hold. While the third quarter U.S. GDP report did indeed drive a nail into the Great Recession’s coffin, what it can not ensure is a strong pickup from here.

It’s become increasing clear that the recent downturn differs qualitatively from earlier ones. In fact, the changed landscape ahead has led some observers to use the term "new normal". A key feature here, along with continued de-leveraging, will be a trend rise in nominal GDP and broad asset values of about 4% to 5% annually.

So, how different is the new normal from the old? Nominal GDP in the US has grown at a 7% clip in the last half-century. What matters to a considerable degree, though, are the real rates embedded in these numbers. A prime feature of the new normal, beyond modest growth, is contained inflation. If inflation slows from its average 4% over that time period to the Fed’s target, the actual reduction in the economy’s real momentum implied by those numbers would be more modest.

A second key point, looking at prospective equity market performance, is the relationship between economic growth itself and valuations. Modest growth implies a longer fuse on Fed tightening and less pressure on rates in the longer term. Due to these and other factors, our research has shown that stocks have traditionally tended to perform the best in periods of moderate-paced expansion, as opposed to torrid growth or contractions. Hottest isn’t always best, in other words. Like Goldilock’s bears, markets prefer their porridge "in between."

Total U.S. Market Capitalization as a percentage of GDP

Underlying the new normal view of a slower equilibrium growth rate is the notion that the total value of assets -- defined in the broadest possible sense to include real estate, bonds and "anything with a price"-- has become exaggerated relative to the economy’s size, due to financial innovation and other developments. While that may be true of the total asset universe, it’s not so obviously apparent for equities. The ratio of total U.S. market capitalization to nominal GDP is now slightly below its average of the last 20 years (See chart above). That’s a further indication that the new normal may not be such barren terrain for stocks.

Ben Tal is senior economist at CIBC.

Renaissance Investments Launches Tax-Efficient Corporate Bond Capital Yield Fund

Renaissance Investments Launches Tax-Efficient Corporate Bond Capital Yield Fund

In response to investors’ clear demand for yield, Renaissance Investments launched the Renaissance Corporate Bond Capital Yield Fund, available for purchase today. This fund offers investors exposure to higher yielding corporate bonds, which are a compelling investment opportunity in today’s market environment, with tax-efficient monthly distributions.

“We are excited to add this innovative new product to our Renaissance Investments line-up,” said Steve Geist, President of CIBC Asset Management. “Now more than ever, investors are looking for higher yielding fixed income solutions which are also tax-efficient. We believe the Renaissance Corporate Bond Capital Yield Fund will deliver on both fronts.”

The fund seeks to generate tax-efficient returns, primarily through exposure to its reference fund, the Renaissance Corporate Bond Fund. The corporate bond mandate of the reference fund is managed by CIBC Global Asset Management Inc., one of the largest fixed-income investment managers in Canada. CIBC Global Asset Management’s process includes both top-down and bottom-up analysis of a combination of fundamental and technical factors. Their approach is based on rigorous in-house credit research to identify issuers that meet their exacting investment criteria. The portfolio will be diversified across industry group and credit rating.

You can purchase a higher-yielding income solution that provides better after-tax returns.

Sell your own Property

Free2List.ca provides free multiple property listings by agents and private homes for sale by owner (FSBO). It displays these real estate listings in 450+ cities across Canada on our network of over 100 Canadian web sites.

Invest Well - Green initiatives boost infrastructure investment

Invest Well

Green initiatives boost infrastructure investment

RARE Infrastructure Limited, manager of the Renaissance Global Infrastructure Fund, seizes green investment opportunities in the U.S.

Despite the impact of the global recession, the U.S. is still going ahead with plans to tackle carbon dioxide and other greenhouse gas emissions head on, a policy that RARE, manager of the Renaissance Global Infrastructure Fund, believes creates investment opportunities.

Even California, more often in the headlines over the perilous state of its finances, remains committed to the energy efficiency programs that have kept its per capita energy consumption flat since the early 1970s. By 2020, 33% of all electricity consumed in California will have to come from renewable sources, a commitment that will require an estimated $115 million of infrastructure investment, according to industry participants. The vast bulk of this is likely to come from financial investors building wind and solar farms and signing long-term sales agreements with the utilities investing in electricity transmission lines.

One of the companies that RARE has recently invested in is Edison International. Edison’s main subsidiary is Southern California Edison (SCE), which estimates that some 80% of the new California transmission will be built in its service territory. This will allow SCE to grow its investment base rapidly over the next 11 years, and make regulated returns. RARE expects strong growth from SCE, driven by California’s green legislation.

Due to its stable defensive qualities and income-generating ability, infrastructure investments often appeal to today’s investors. Previously available only through institutional-style investments, this asset class can now be accessed by retail investors.

In addition to the Renaissance Global Infrastructure Fund, investors can also access infrastructure through the Renaissance Optimal Income Portfolio.

Housing Activity to Strengthen in 2010

Housing Activity to Strengthen in 2010

OTTAWA, Ontario, November 02, 2009 — Housing starts have started to recover and are expected to continue to improve in the second half of 2009. Starts are expected to reach 141,900 for the year and will increase to 164,900 for 2010, according to Canada Mortgage and Housing Corporation's (CMHC) fourth quarter Housing Market Outlook, Canada Edition* report.

"We expect housing markets across Canada to strengthen leading into and over the course of 2010 as economic conditions improve", said Bob Dugan, Chief Economist for CMHC.

"Demand for existing homes has rebounded since the beginning of the year. In addition, lower inventory levels characterize both the new and existing home markets. As a result, stronger housing demand will be reflected in higher levels of housing starts in 2010", said Mr. Dugan.

The strong pace of MLS^{® 1} sales seen in the second and third quarters of this year reflects, in part, activity that was delayed in the previous two quarters and is not likely to be sustained. The level of sales is expected to move back closer in line with anticipated economic conditions. As a result, existing home sales, as measured by the Multiple Listing Service (MLS^®), will reach 441,300 units in 2009 and increase to 445,150 units in 2010. The average MLS^® price is expected to be $312,950 in 2009 and $324,500 in 2010.

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

* The forecasts included in the Housing Market Outlook are based on information available as of October 1, 2009. Where applicable, forecast ranges are also presented in order to reflect economic uncertainty.

¹ The term MLS^® stands for Multiple Listing Service and is a registered trademark of the Canadian Real Estate Association (CREA). Data are for 10 provinces.

Information on this release:

Charles Sauriol
CMHC
Media Relations
613-748-2799
csauriol@cmhc-schl.gc.ca

National Housing Outlook

Key Housing Market Indicators

	2008 Actual	2009 Forecasts	2010 Forecasts
Total Housing Starts (units)	211,056	141,900	164,900
Forecast Ranges		138,000 – 146,000	135,000 – 190,000
Total Single-detached Houses	93,202	70,350	79,700
Forecast Ranges		68,800 – 72,150	63,100 – 93,600
Total Multiple Housing Units	117,854	71,550	85,200
Forecast Ranges		69,200 – 73,850	71,900 – 96,400
Total MLS® Sales1	433,990	441,300	445,150
Forecast Ranges		437,000 – 453,500	415,000 – 460,000
Average MLS® Selling Price ($)	303,607	312,950	324,500
Forecast Ranges		309,000 – 316,500	313,000 – 341,500

Provincial Housing Outlook

Total Housing Starts

	2008 Actual	2009 Forecasts	2010 Forecasts
Newfoundland and Labrador	3,261	2,900	3,000
Prince Edward Island	712	740	725
Nova Scotia	3,982	3,275	3,500
New Brunswick	4,274	3,400	3,525
Quebec	47,901	43,300	43,000
Ontario	75,076	47,400	56,500
Manitoba	5,537	4,000	4,800
Saskatchewan	6,828	3,600	4,350
Alberta	29,164	17,950	22,000
British Columbia	34,321	15,200	23,400

News source: Canada Mortgage and Housing Corporation (CMHC)

CAA-Québec - Renovation contracts: When “extras” hit you where it hurts

CAA-Québec - Renovation contracts: When “extras” hit you where it hurts

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Pourquoi faire affaire avec un courtier hypothécaire?

Pourquoi faire affaire avec un courtier hypothécaire?
Aujourd'hui, près de 30 pour cent des propriétaires canadiens obtiennent leur prêt par l'entremise d'un courtier hypothécaire. À titre d'expert indépendant, le courtier détient une connaissance approfondie des produits offerts par les prêteurs hypothécaires, leurs caractéristiques et avantages en plus d'être en lien étroit avec de nombreux prêteurs pour offrir à ses clients des taux compétitifs.   Comment un courtier peut-il vous aider? Les courtiers sont des professionnels qui visent essentiellement à trouver la stratégie appropriée à vos besoins et à simplifier votre démarche de financement. Le courtier étudiera soigneusement votre situation en vue de choisir parmi les nombreuses solutions offertes aux acheteurs le produit qui vous convient. En plus de remplir tous les documents nécessaires, le courtier demeure à l'affût des enjeux ou changements au sein de l'industrie qui pourraient avoir une incidence sur votre choix de prêt.
		Pourquoi faire affaire avec un courtier?
Recourir aux services d'un courtier vous fera gagner du temps. En effet, si vous voulez comparer les diverses offres, vous devrez expliquer votre situation à chaque prêteur, leur poser les mêmes questions puis analyser les réponses. La plupart des gens n'ont pas ce luxe de temps. De plus, les offres de financement hypothécaires font l'objet d'une vive concurrence et sont souvent assez complexes. Il est alors souhaitable d'avoir un expert de votre côté.			Gagner du temps     Connaissance du marché     Stratégies pour vous aider
Un courtier hypothécaire élaborera également des stratégies pour gérer les versements mensuels ou améliorer votre cote de crédit.   Voici quelques questions à poser à votre courtier hypothécaire : Depuis combien d'années travaillez-vous comme courtier? Depuis quand votre société de courtage hypothécaire est-elle en affaires? Puis-je obtenir des références de quelques-uns de vos clients? Comment les courtiers hypothécaires sont-ils rémunérés? Quelle est votre expérience en rapport avec ce type de transaction? Quel est le processus pour conclure mon prêt? Quels sont les délais pour la transaction? Avec quels prêteurs faites-vous affaire et pourquoi?   Pourquoi faire affaire avec un courtier hypothécaire? Intégrité, connaissance du marché et service.

Revisiting Canadian Mortgage Market

CAAMP RELEASES MORTGAGE RISK ASSESSMENT REPORT Today, CAAMP released a report entitled Revisiting the Mortgage Market – Risk is Small and Contained based on new research using data collected from its corporate members. The findings strongly suggest that Canadian mortgage lenders and borrowers are extremely prudent with their borrowing and lending. The report, compiled by Will Dunning, CAAMP's chief economist addresses the impact of potential increases in mortgage rates to mortgage borrowers and effects on mortgage debt levels. The report was compiled in response to suggestions by federal government officials that there could be changes to insured mortgage products. The report has been forwarded to the federal government. Download the Report Download the Press Release

Canadian Mortgage Broker News - Canadians cautious with mortgages, CAAMP survey finds

Canadian Mortgage Broker News - Canadians cautious with mortgages, CAAMP survey finds

Canadians cautious with mortgages, CAAMP survey finds

Canadian homeowners and lenders are increasingly cautious when it comes to borrowing and granting mortgages, according to a new CAAMP survey of its members.

"This new research shows that Canadians are assessing their abilities and vulnerabilities," said Jim Murphy, president and CEO of CAAMP. "The vast majority of Canadian mortgage borrowers are not taking on undue risks. They have factored rising interest rates in to their mortgage decisions."

The survey includes data from CAAMP members who issued more than 40,000 mortgage loans last year. The findings show 86 per cent of home buyers chose fixed-rate mortgages last year and 70 per cent of those buyers chose a term of five years or more. In addition, CAAMP said the "vast majority" of people who took out their first mortgage in 2009 borrowed less than they could afford.

"The bottom line from the simulations is that even though mortgage payments will probably rise for most borrowers, the increase in their incomes will more than offset the higher payments," said CAAMP chief economist Will Dunning, who authored a report accompanying the survey research. "All in all, the degree of risk from rising mortgage rates appears to be small and manageable."

Canadian Mortgage Broker News - U.S. foreclosures hit close to three million last year

Canadian Mortgage Broker News - U.S. foreclosures hit close to three million last year

U.S. foreclosures hit close to three million last year

The number of U.S. foreclosures hit a record-high 2.8 million properties in 2009, according to RealtyTrac, a 21 per cent jump from 2008.

The real estate data company said that while foreclosure prevention programs, including government-implemented loan modification programs, helped keep more homeowners in their homes, there is still a high level of re-defaults or bank repossessions. It predicted the high number of foreclosures will continue in 2010 due to an unemployment rate of over 10 per cent and wage cuts.

"Until the lenders start to get into principal balance reduction you're going to continue to see high re-default rates," Rick Sharga, senior vice president at RealtyTrac, said in an interview with Reuters, adding he hadn't seen any appetite for re-defaults on the part of the lenders.

While foreclosure rates in the U.S. dropped in the fourth quarter of 2009 compared to the rest of the year, December saw a 14 per cent jump in foreclosure notices compared to November, according to RealtyTrac. The company said California, Florida Arizona and Illinois accounted for more than half of all foreclosure actions in 2009.

Sharga told Reuters the U.S. housing market would see a "long, slow, and flat" recovery that "probably won't feel much better until 2013."

BoC trend

http://network.nationalpost.com/np/blogs/fpposted/archive/2010/01/20/bank-of-canada-tightening-won-t-begin-until-mid-2011-at-the-earliest-david-rosenberg-advises-clients.aspx

Regards,
Daniel G. Katev, AMP
www.maxi-pret.com
info@danielkatev.com
514.906.7785

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Canadian Mortgage Broker News - Latest BoC report stays on track with October forecast

Canadian Mortgage Broker News - Latest BoC report stays on track with October forecast

Latest BoC report stays on track with October forecast

| Thursday, 21 January 2010

The Bank of Canada stuck to a positive-but-cautious outlook in its latest Monetary Policy Report, saying that while its outlook for global growth is stronger than it predicted in October, the recovery continues to depend on stimulus and "extraordinary measures" taken to support financial systems.

As for Canada, the Bank said economic growth resumed in the third quarter of 2009 and CPI inflation turned positive in the fourth quarter. However, with considerable excess supply and a strong dollar, the Bank still projected the Canadian economy won't return to its full capacity until the third quarter of 2011.

As expected, the Bank of Canada reiterated its conditional commitment to keep interest rates low until the second quarter of 2010. With some lenders posting "prime minus" rates, this puts a number of variable-rate mortgages below the two per cent mark.

The Monetary Policy Report said the low rates have contributed to solid growth rates in mortgage and consumer credit, the latter driven by draws on personal lines of credit and HELOCs.

Changements dans les reglements hypothécaires / mortgage regulations changes

Le ministre des Finances, Jim Flaherty, a menacé d'augmenter la mise de fonds minimale requise pour une maison de 5% à une proportion plus élevée.  De même, la période d'amortissement maximale serait diminuée, de 35 ans à une durée plus courte.

M. Flaherty a indiqué que ces mesures entreront en vigueur afin de ralentir les emprunts excessifs s'il y a des indices de surchauffe dans le marché immobilier.

Alors, si vous planifier acheter votre propriete d' ici quelque mois, c'est le temps d' agir.Plus tard il se peut que soit trop tard.

************

The Finance Ministry, Jim Flaherty, threatened to increase the minimum cash down for a house from 5% to a higher amount. In the same time, the maximum amortisation could be decreased from 35 years to a smaller period.

M.Flaherty says that the measures could be applied to slow down the excessive loans if there is an indication of overheating in the real estate market.

So, if you really planify to buy a home this spring, it is time to do it now! Later could be too late! 

 

 

Order your Quebec Last Will and Testament

Order your Quebec Last Will and Testament

Mortgage rate as of 20/01/2010

Our commitment:
* Negociate on your behalf the best interest rates and loan conditions
* Provide you with a pre-approval service
* Explain to you the range of government programs (Home Buyers Plan, ...)
* Protect your mortgage rate for up to 120 days
* Transfer your mortgage free of charge*

Mortgage product	Posted rate	Our rate
5 years Variable	3.75 %	2.05 %
5 years Var Promo PAP	2.25 %	2.05 %
1 year	4.35 %	2.33 %
1 year open	6.55 %	6.55 %
2 years	3.95 %	2.95 %
3 years	5.25 %	3.25 %
4 years	5.14 %	3.89 %
5 years	6.10 %	3.84 %
6 years	6.10 %	4.69 %
7 years	6.60 %	5.19 %
9 years	5.67 %	5.37 %
10 years	6.95 %	5.35 %
15 years	9.55 %	9.25 %
18 years	9.55 %	9.25 %
25 years	9.65 %	9.35 %

Posted by DataTracker Powered by CoolRent

Mortgage rate as of 18/01/2010

Our commitment:
* Negociate on your behalf the best interest rates and loan conditions
* Provide you with a pre-approval service
* Explain to you the range of government programs (Home Buyers Plan, ...)
* Protect your mortgage rate for up to 120 days
* Transfer your mortgage free of charge*

Mortgage product	Posted rate	Our rate
5 years Variable	3.75 %	2.05 %
5 years Var Promo PAP	2.25 %	2.05 %
1 year	4.35 %	2.33 %
1 year open	6.55 %	6.55 %
2 years	3.95 %	2.95 %
3 years	5.25 %	3.25 %
4 years	5.14 %	3.89 %
5 years	6.10 %	3.84 %
6 years	6.10 %	4.69 %
7 years	6.60 %	5.19 %
9 years	5.67 %	5.37 %
10 years	6.95 %	5.35 %
15 years	9.55 %	9.25 %
18 years	9.55 %	9.25 %
25 years	9.65 %	9.35 %

Posted by DataTracker Powered by CoolRent

Mortgage rate as of 18/01/2010

Our commitment:
* Negociate on your behalf the best interest rates and loan conditions
* Provide you with a pre-approval service
* Explain to you the range of government programs (Home Buyers Plan, ...)
* Protect your mortgage rate for up to 120 days
* Transfer your mortgage free of charge*

Mortgage product	Posted rate	Our rate
6 years	6.10 %	4.69 %

Posted by DataTracker Powered by CoolRent

Mortgage rate as of 18/01/2010

Our commitment:
* Negociate on your behalf the best interest rates and loan conditions
* Provide you with a pre-approval service
* Explain to you the range of government programs (Home Buyers Plan, ...)
* Protect your mortgage rate for up to 120 days
* Transfer your mortgage free of charge*

Mortgage product	Posted rate	Our rate
5 years Variable	3.75 %	2.05 %
5 years Var Promo PAP	2.25 %	2.05 %
1 year	4.35 %	2.33 %
1 year open	6.55 %	6.55 %
2 years	3.95 %	2.95 %
3 years	5.25 %	3.25 %
4 years	5.14 %	3.89 %
5 years	6.10 %	3.84 %
6 years	6.10 %	4.85 %
7 years	6.60 %	5.19 %
9 years	5.67 %	5.37 %
10 years	6.95 %	5.35 %
15 years	9.55 %	9.25 %
18 years	9.55 %	9.25 %
25 years	9.65 %	9.35 %

Posted by DataTracker Powered by CoolRent

Your RRSP @ work. Combine in it with your mortgage

The sexy mortgage — Greater Fool – The Troubled Future of Real Estat
e - http://www.greaterfool.ca/2009/12/23/the-sexy-mortgage/

Regards,
Daniel G. Katev, AMP
www.maxi-pret.com
info@danielkatev.com
514.906.7785

Sent from my iPhone

Canada bank system - no free money

You can bank on our banks - Winnipeg Free Press - http://www.winnipegfreepress.com/opinion/westview/you-can-bank-on-our-banks-80565557.html

Regards,
Daniel G. Katev, AMP
www.maxi-pret.com
info@danielkatev.com
514.906.7785

Sent from my iPhone

+1% interest by the end of 2010??

The end of free money: Investors had better get used to the idea of
rising rates
- http://news.globaltv.com/money/story.html?id=2421922

Regards,
Daniel G. Katev, AMP
www.maxi-pret.com
info@danielkatev.com
514.906.7785

Sent from my iPhone

Mortgage rate as of 14/01/2010

Our commitment:
* Negociate on your behalf the best interest rates and loan conditions
* Provide you with a pre-approval service
* Explain to you the range of government programs (Home Buyers Plan, ...)
* Protect your mortgage rate for up to 120 days
* Transfer your mortgage free of charge*

Mortgage product	Posted rate	Our rate
5 years Variable	3.75 %	2.05 %
5 years Var Promo PAP	2.25 %	2.05 %
1 year	4.35 %	2.33 %
1 year open	6.55 %	6.55 %
2 years	3.95 %	2.95 %
3 years	5.25 %	3.25 %
4 years	5.14 %	3.89 %
5 years	6.10 %	3.84 %
6 years	6.10 %	4.85 %
7 years	6.60 %	5.19 %
9 years	5.67 %	5.37 %
10 years	6.95 %	5.35 %
15 years	9.55 %	9.25 %
18 years	9.55 %	9.25 %
25 years	9.65 %	9.35 %

Posted by DataTracker Powered by CoolRent

Canada Small Business Financing Program - Official Government of Canada site - Home

Canada Small Business Financing Program - Official Government of Canada site - Home

Canadian Mortgage Broker News - Pending home sales decline in U.S.

Canadian Mortgage Broker News - Pending home sales decline in U.S.

Canadian Mortgage Broker News - Strong forecast for 2010 real estate market in Canada

Canadian Mortgage Broker News - Strong forecast for 2010 real estate market in Canada

Canadian Mortgage Broker News - Bank of Canada takes stance on housing bubble

Canadian Mortgage Broker News - Bank of Canada takes stance on housing bubble

Mortgage rate as of 12/01/2010

Our commitment:
* Negociate on your behalf the best interest rates and loan conditions
* Provide you with a pre-approval service
* Explain to you the range of government programs (Home Buyers Plan, ...)
* Protect your mortgage rate for up to 120 days
* Transfer your mortgage free of charge*

Mortgage product	Posted rate	Multi-Prets
5 years Variable	3.75 %	2.05 %
5 years Var Promo PAP	2.25 %	2.15 %

Posted by DataTracker Powered by CoolRent

VARIABLE BAISSE A TAUX PREF. MOINS 0.20% POUR UN TAUX DE 2.05%.

Regards,
Daniel G. Katev, AMP
www.maxi-pret.com
info@danielkatev.com
514.906.7785

Sent from my iPhone

2009 Mortgage Consumer Survey Results| CMHC

2009 Mortgage Consumer Survey Results| CMHC

Posted using ShareThis

Royal LePage prévoit un marché immobilier fort

Royal LePage prévoit un marché immobilier fort