Saturday, June 19, 2010
Wednesday, June 16, 2010
Tuesday, June 8, 2010
Profile of Mortgage HoldersThere are currently about 9.3 million home owners in Canada, of whom about 5.55million have mortgages.About one-quarter (24%) of home owners had some form of mortgaging activity during the past 12 months: taking out a new mortgage on a home that was newly purchased or which previously did not have a mortgage (7%), renewing, refinancing or transferring an existing mortgage (17%), or paying off an existing mortgage (3%)1. The remainder (76% of home owners) did not have any mortgaging activity during the year.The average outstanding principal is $138,000. Based on the survey findings, it isestimated that outstanding mortgage principals on primary residences total $770 billion.Mortgages that were originated during the past year have a current total principal of$127 billion; mortgages renewed, refinanced, or transferred have a total principal of$180 billion; and for mortgage holders who were inactive during the year the current total principal is $494 billion2.
Monday, June 7, 2010
You do have the right to sell your own home anytime you wish. To anyone you like. For what ever price you select.
Wednesday, June 2, 2010
Tuesday, June 1, 2010
Except this time there is a calmer voice joining in to the endless chorus The Toronto Housing Bubble will burst conversation.
Canada’s housing market is expected to cool off this year and next, but isn’t at risk of falling victim to a U.S.-style foreclosure crisis anytime soon, according to a new report by debt-rating firm DBRS Ltd.
DBRS said in the report that Canada will continue to fare well in comparison to its neighbour to the south when the Canadian housing market corrects itself and interest rates are tightened. That is because lending practices here are much more sound than in the U.S.
“The likelihood of us having the kind of situation they had in the U.S. is extremely low,” said Jerry Marriott, managing director of structured finance at DBRS . “It’s a combination of the lending practices prior to the peak in 2007 — they were more restrained, so there were better underwriting practices in Canada. We also think there are a number of factors in the Canadian market which have lent themselves to more prudent lending.” Read more: http://www.cbc.ca/fp/story/2010/05/28/3081970.html#ixzz0pbNgR1hE