May 2014 Canadian Economic Fundamentals

[Ally]

CMHC agrees to make more mortgage information public





Canada`s largest mortgage default insurer has agreed to industry demands to make more information about its portfolio public.





Canada Mortgage and Housing Corporation, a Crown Corporation that controls about 60% of the market, has released a supplemental section on its results which among other things lays out detailed information breaking down its portfolio including how much of it is backing higher risk loans with little equity.





Read the full article here.

 

[Ally]

CMHC agrees to make more mortgage information public





Canada`s largest mortgage default insurer has agreed to industry demands to make more information about its portfolio public.





Canada Mortgage and Housing Corporation, a Crown Corporation that controls about 60% of the market, has released a supplemental section on its results which among other things lays out detailed information breaking down its portfolio including how much of it is backing higher risk loans with little equity.





Read the full article here.

 

[Ally]

Canadian economy slows in first quarter as businesses stay wary





OTTAWA ` Canada`s economy slowed in the first three months of 2014, as the lingering impact of severe winter weather continued to hamper growth along with a combined weak business and residential investments.





Gross domestics product, the broadest measure of economic activity, rose by 1.2% on an annualized basis, well below private-sector estimates.





Read the full article here.

 

[Ally]

Is your house a home or a nest egg?






More than two-thirds of Canadians who bought in the last decade view their house as a place to live and just 31 per cent as a nest egg.







And that appears to be consistent among homebuyers, whether they bought recently, or back in 2003, before real estate in markets like Toronto and Vancouver virtually doubled or tripled in price, according to the annual spring survey of the residential mortgage market done on behalf of the Canadian Association of Accredited Mortgage Professionals (CAAMP).





Read the full article here.

 

[Ally]

Growing rate of first-time homebuyers





CALGARY - Low interest rates and good economic conditions have first-time homebuyers entering the Canadian housing market in `substantial` numbers, according to a report released Thursday by the Canadian Association of Accredited Mortgage Professionals.





Its latest consumer survey report, Looking for a `New Normal` in the Residential Mortgage Market, found that `homeowners appear to be happy with the decision to buy their home.`





Read the full article here.