Mortgage Journal Hypothecaire - (Page 77)

MARKET TRENDS I TENDANCES Canada’s Housing Markets – Mid Year Review Les marchés canadiens de l’habitation – Revue semestrielle By/par Will Dunning ousing activity has slowed in Canada this year, but in most of the provinces housing markets are still in good shape. Resale market activity surged in the middle third of 2007, and sales set an all-time record for Canada and in most of the provinces (with the exceptions of British Columbia and Alberta – in both of those provinces sales in 2007 were the second highest all-time). Several key factors combined to generate these new resale market records: • Mortgage interest rates were low at the beginning of 2007, but began to increase during the Spring, and there were exng pectations that there woul be furld ther increases. This caused many buyers to accelerate their b buying decisions. • New mortgage options – longer amortization periods on top of zero down payment mortgages – expanded H Will Dunning ’activité domiciliaire a ralenti au Canada, cette année, mais les marchés restent sains dans la plupart des provinces. La revente a connu une montée durant le second tiers de 2007, et les ventes ont atteint un record historique pour le Canada et dans la plupart des provinces (sauf la C.-B. et l’Alberta, dont les ventes de 2007 arrivaient au deuxième rang l’ historique). Plusieurs facteurs se sont unis pour produire ces h records de revente : r • Les taux d’intérêt hypothécaires étaient faibles au début de 2007, mais ils ont commencé à augmenter au printemps, et l’on s’est mis à prévoir d’autres augmentations. Cela a conduit de nombreux acheteurs à devancer leurs achats. • Les nouvelles options telles que des périodes d’amortissement plus longues et des hypothèques sans mise de fonds ont accru le bassin d’acheteurs potentiels et permis à certains d’acheter plus tôt. • Entre-temps, la création d’emplois très vigoureuse a continué de générer de la demande d’habitations. L MORTGAGE JOURNAL • JOURNAL HYPOTHÉCAIRE I October 2008 • Octobre 2008 I 77

Table of Contents for the Digital Edition of Mortgage Journal Hypothecaire

Mortgage Journal Hypothecaire
Contents
Chairman's Remarks - AYear in Review
President's Message - Listening
Get Back to Basics at CAAMP's 2008 Annual Conference
Conference Fact Sheet
Fiche Technique du Congrès
Make Money, Not Excuses Creating Rapport with Prospects is Essential
Mike Duffy: A Voice for Canada
Life-Long Learning: Your Key to Employability
Ensuring Stability - Government Lending Changes Aim to Protect Canadian Market
Consumers Hang up on Telemarketing: Do Not Call List Will Affect Lead Follow-Up
Canada's Housing Markets - Mid Year Review
Ethics Complaint Report
New Amps
New Members
Index to Advertisers

Mortgage Journal Hypothecaire

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