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June 8, 2010 CMHC released the May Housing Starts statistics. Read all the details on the CMHC website. The latest news in the real estate and mortgage industry that affects Western Canadians... Alta Pacific speaks to these topics each month in our Newsletter. Also, follow our blog for regular updates and opinion. Business In Vancouver thinks so... read the article on BIV.com. "on a seasonally adjusted basis, residential sales dropped 4% from March, and sales trends have lowered to between 84,000 and 86,000 units over the past three months, which is down from the 108,000 unit pace in the fourth quarter of 2009" April 10, 2010 CMHC released the April Housing Starts statistics. Read all the details on the CMHC website. Reported this morning by the Calgary Herald, luxury homes sales in the Calgary area have increased in the first quarter of 2010. 67 upper-end properties valued at more than $1 million were sold in the first quarter of this year compared with 35 during the same period a year ago. Full article here. The Bank of Canada left their key overnight rate unchanged as expected this morning. However, their removal of the conditional commitment to leave rates unchanged until the end of the 2nd quarter of 2010 shows a pretty clear intention of theirs to raise rates on June 1st. Housing starts report from CMHC today shows increases in all Canadian regions except Ontario. In Western Canada where Alta Pacific Mortgages operates, housing starts in urban areas are seeing a rather sharp increase year over year (March 2010 compared to March 2009). Prairie Regions (Manitoba, Saskatchewan, Alberta) saw a March increase from 967 housing starts in March 2009 - to 2,508 housing starts in March 2010. British Columbia saw March 2010 housing starts hit 1,726; up from 739 housing starts in March 2009. Read the full CMHC article and report here Inflation is above target for the month of February, leading analysts into a bit of a frenzy. While this could lead to a rate hike earlier than expected, many also believe the buzz of the Vancouver 2010 Olympics drove prices up temporarily. Source: today's National Post As reported in Tuesday's Montreal Gazette, more Canadians plan to buy homes in the next 2 years. The strength of the Canadian housing market relative to worldwide markets has increased confidence in real estate. | NEWSMORTGAGE NEWS
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