A week full of blaming the regulation for the housing slump.
Inflation rate went down and BOC is now free as a bird from – if any – upward pressure.
BMO started the 2.99% five years promotion again and other banks are not just sitting and biting nails. Last time we heard that Scotia is pushing harder on short term deals.
Mortgage News:
- Stricter Mortgage Rules Softening Canadian Housing Market – BMO Economics
- Ten questions to help you avoid mortgage-penalty shock – Globe and Mail
- Cumulative home price appreciation reduces potential loss exposure – Chart – via @CanadaWatchdog
- Why your expensive house isn’t stoking inflation – Globe and Mail
- Canada Housing Trust issues its regular quarterly offering of mortgage bonds – National Post
- New mortgage rules cited for 5.8 per cent drop in national house sales in August – Toronto Star
- RBC sees slower Canadian mortgage growth – Reuters
- Road reps borrow ‘broker’ name – CMP
- Cooling Canadian housing market a good thing for banks: Fitch – National Post
- BMO adds Onorio Lucchese as it seeks larger share in real estate financing – Financial Post
- Low inflation freezing Mark Carney’s trigger finger – Globe and Mail
- 50-year mortgage in 1983 with CMHC at a 13.5 per cent interest rate – Winnipeg Free Press
- Canada heading into a slow-motion version of the U.S. housing bust: Robert Shiller – FP
- I borrowed $25,000 from my RRSP to buy a house – Toronto Star
- Neil Macdonald: Why a U.S.-style housing nightmare could hit Canada – CBC
Real-Estate News:
- Canadian home sales down in August – CREA
- Housing market weakens, more softening seen – Globe and Mail
- Canada’s housing market expects slower growth as global sales continue decline – Toronto Star
- Canadian housing activity shifts to slower growth – Edmonton Journal
- Home resales fell in Canada in August – RBC
- The average selling price increased by more the 9.5% in mid August – TREB
- GTA home sales fall 15% – Toronto Star
- Metro Vancouver commercial real estate sales reach record $1.42 billion – Vancouver Sun
- Value of all homes sold in B.C. last month down a significant 25 per cent – Vancouver Sun
- Why it’s not always better to buy – Financial Post
- Is there any relief ahead for Toronto’s crowded rental market? – Openfile
- Average Toronto home price hits $800,000 – Toronto Star
- ‘Soft landing at worst’ for Canada housing market: Scotiabank CEO – Toronto Sun
- Commercial real estate industry contributes over $63 billion to Canadian economy – RPAC
- Clearing the fog on housing – FP
- Single Canadians buying real estate should be more diligent than couples – Brandon Sun
- Housing market will crash: research firm – Globe and Mail
- Toronto Real Estate Board accused of abusing its power and hurting consumers in case before Competition Tribunal – Toronto Star
- Canadian home sales slump as prices stay flat – CBC
Financial News:
- Canada’s Economy In ‘Soft Patch’ As Woes Like Housing And Exports Pile Up: TD – Huffington Post
- Why Canada needs a new measure of inflation – Globe and Mail
- The collapsing Tower of Basel III – Financial Post
- Most Canadians have paid under the table to avoid tax: poll – Globe and Mail
- Inflation dips in face of weak economic conditions in Canada, world – CB
Other News:
- Fed’s latest stimulus may have little impact on mortgage borrowers – Washington Post
- 13 websites that can make you a better investor – Globe and Mail
- US home mortgage lending hit 16-year low in 2011 – AP
- New York’s Housing Sales Reach 26-Month High in August – NYSAR
- In about-face, Fed official eyes low rates for years – Reuters
- Surviving in an Economy with a 25 per cent Unemployment Rate – Conference Board Economics
Quote of the week
During the last financial crisis “the Basel capital rules protected no one: not the banks, not the public, and certainly not the FDIC that bore the cost of the failures or the taxpayers who funded the bailouts.”
Thomas Hoenig via — Terence Corcoran The collapsing Tower of Basel III.
Thanks for reading. Have a good weekend.
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