Here are Gary Simonsen’s, the CEO of CREA, remarks to the House of Commons Standing Commitee on Finance, specifically relating to requested improvements on the Home Buyer’s Plan.
The Bank of Canada Abandons its Rate Hike Bias. After years of mimicking chicken little, saying the sky was falling and that interest rates were rising, The Bank of Canada has stopped hinting at future rate hikes.
CBC News – Sobeys to sell 23 stores in Safeway deal. The Fort McMurray Safeway in thickwood will be affected.
Parsons Landing Property manager found guilty and fined the maximum $15,000 for its failure to maintain the fire alarm system in an operable condition. The fire engulfed the apartment complex at 350 Parsons Creek Drive on February 5, 2012.
An interesting read on How Interest Rates Affect Property Values.
please note that this is an American site, so please take it with a grain of salt.
The Bank of Canada holds rate at 1 per cent, where it has been since September 2010.
NHS: Home-ownership dreams are reliant on mortgages for most Canadians.
Does this mean more Canadians are taking bigger mortgages? Or are we borrowing for longer periods of time? Probably, yes. We are also becoming more financially savvy. Experts are finally recognizing that Canadians are taking advantage of the record low rates to consolidate our debts.
Here’s some other info (CAAMP stats 2012):
- Over 40% of Canadian Home Owners have no mortgage.
- more than 30% of all household debt is non-mortgage. (credit cards, unsecured lines of credits, car loans, etc)
- Canadians are conservative, 79% of all mortgages have a fixed rate.
- For all homeowners, equity is equal to 70% of the value of housing. In other words, Canada has only leveraged or borrowed 30% of the equity in their homes.
- Mortgage arrears are at or near the all-time historical low levels… 0.33%
Add it all up and it seems Canadians are managing their mortgage debts very well.
The City Centre McMurray Urban Market is returning to Jubilee Centre September 11th
The first market was a success, with local artisans, local produce, baked goods, free-range meat, snacks and hand-made products. The market will once again be available, on September 25th as well.
Repairs to the Hospital Street Bridge, damaged in a New Year’s eve collision are getting underway. Construction is set to take place daily from 9:00 p.m. to 5:00a.m, weather permitting, from August 13th through mid-September.
The work will include repairs to the concrete girders, crack sealing, patching and structural restoration.
Both northbound lanes will be closed at night and the exit ramp will be used as a detour for Highway 63 through the construction. The two southbound lanes will remain open.
The speed limit will be reduced to 50km/h and Alberta Transportation says signal timing will be adjusted to provide more green light time to Highway 63 through-traffic.