Happy Canada Day to all.
Mortgage News
- First-time homebuyers will be squeezed by new mortgage rules – Vancouver Sun
- What the new mortgage rules will mean for Canada – MSN Money
- Jim Flaherty, mortgage destroyer – SUN
- Buying a house is our risk – Ottawa Citizen
- Buying first home will be more difficult under new rules from Flaherty – Winnipeg Free Press
- Mortgage changes ‘may be too late’: Moody’s – Financial Post
- Flaherty’s million dollar mortgage change hits only 0.1 per cent of buyers – Globe and Mail
- Mortgage shift will hurt buyers – Edmonton Journal
- New Mortgage Rules Should Help Create Soft Landing for Canadian Housing Market – BMO
- Paying off your mortgage should take priority – Calgary Herald
- Association challenges mortgage rule changes – StarPhoenix
- Flaherty says action to cool housing may dampen growth, but risk worth taking – Montreal Gazette
Real-Estate News
- How Jim Flaherty (temporarily) burst my real estate bubble – Calgary Herald
- City (Vancouver) should insert itself deeper into housing development, says mayor – Vancouver Sun
- Toronto condo boom prompted new mortgage rules, Flaherty says – Globe and Mail
- Canada home resale prices hit record, growth slows – Reuters
- Consumer debt levels too high to maintain the current rate of real estate consumption – Centract Property Summit Survey
- Canada’s housing market – The Economist
- Will new mortgage rules mean less debt or fewer sales? – Hamilton Spectator
- The pros and cons of using the Home Buyers’ Plan – Toronto Star
- Desjardins Housing Index stabilized in May – Desjardins
Financial News
- Should Canadians worry about a banking crisis? – Toronto Star
- Bank of Montreal to close 24 US branches – MarketWatch
- US money market funds’ crush on Canada – Globe and Mail
- Analysis: Is the euro beyond salvation? Politics not economics to decide – Reuters
Other News
- Mortgage Rates in U.S. Fall With 30-Year at a Record-Low 3.66% – Bloomberg
- Moody’s downgrades global banks, including RBC – Globe and Mail
- Why mortgage rates are so low (US) – Marketatch
- Gov’t watchdog: Reverse mortgages confuse elderly (US) – AP
- Is Your Mortgage Payment Based on Lies? Read Here – Bloomberg
- U.S. judge asks if Barclays’ Libor deal affects 2010 settlement – Reuters
- Stockton, California becomes largest U.S. city to file for bankruptcy – Reuters
Quote of the week
I would urge Minister Flaherty to bear this in mind before considering further interventions into the market.
Richard Silver, President, TREB via — A look at Mortgage Lending Guideline Changes TREB.
Thanks for reading. Have a good long weekend.
