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Increased domestic spending and improved credit markets expected to fuel economic growth in 2010 and 2011
TORONTO, Ontario, March 11, 2010 — With a peak in stimulus investment, improved credit markets and a recovery in consumer spending, Canada’s economy is poised for real GDP growth of 3.1 per cent, according to a new report by RBC Economics.
“An economic recovery is …
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Canada’s economy shifts into recovery mode: RBC Economics
U.S. foreclosure filings fell 2 percent in February, but still remain 6 percent over their rate of one year before, according to new data released today by RealtyTrac.
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Foreclosures Down in February
The number of states reporting increased unemployment declined in January, with the majority reporting a net increase in jobs, according to figures released today by the Labor Department.
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State Unemployment Rates Slow
A widely disparaged set of new rules affecting home appraisals has actually had relatively little negative effect on real estate appraisers, according to a new study by an appraisal management company (AMC).
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Industry Report Finds Little Impact from Appraisal Rules
The influential chair of the House Financial Services Committee is ratcheting up the pressure on lenders to write off nearly worthless second liens to clear the way for loan modifications to help homeowners avoid foreclosure.
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Frank Urges Banks to Write Off Second Liens
TORONTO, Ontario, March 08, 2010 — Homebuying momentum in Canada continues to gain steam with the portion of Canadians who are very likely to purchase a home in the next two years rising to 10 per cent from seven per cent two years ago, according to the 17th Annual RBC Homeownership Study. Younger Canadians, aged 18 to 24, will lead the charge this year, with those very likely to buy …
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Home purchase intentions full steam ahead: RBC poll
OTTAWA, Ontario, March 08, 2010 — The seasonally adjusted annual rate 1 of housing starts reached 196,700 units in February 2010. This is an increase from an annual rate of 185,400 units in January 2010, according to Canada Mortgage and Housing Corporation (CMHC).
“The gain in February housing starts was concentrated in the multiple starts segment, particularly in Toronto,” …
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February Housing Starts
The FDIC is looking at principal writedowns in its loss-share agreements with failed banks as a way to help at-risk homeowners avoid foreclosure, according to FDIC Chair Sheila Blair.
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FDIC’s Blair Touts Writedowns on Underwater Mortgages
Pending home sales fell in January, despite expectations of a boost from expanded tax credit, according to new figures from the National Association of Realtors (NAR).
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Pending Home Sales Fell in January
More consumers moved to refinance their mortgages last week as rates once again dipped below the 5 percent mark, according to new information from the Mortgage Banker’s Association.
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30-Year Rates Back Below 5 Percent: MBA