Mortgage Information

Nearly half of all borrowers denied permanent loan modifications under the Making Home Affordable Program (MHAP) have been able to arrange for alternative modifications through their lenders, the government announced today.

CHARLOTTETOWN, Prince Edward Island, June 16, 2010 — The recent recession was not an ordinary downturn, and a bold response from the public and private sectors in Canada and globally is required to secure the economic recovery, Bank of Canada Governor Mark Carney said today.
“Do not be misled. This was the Great Recession. To claim otherwise with simplistic comparisons to prior …

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A Bold Response Is Required to Secure the Economic Recovery, Says Bank of Canada Governor Mark Carney

TORONTO, Ontario, April 08, 2010 — After a buoyant, if geographically uneven start to the year, Canada’s housing market is poised to moderate as 2010 unfolds, according to the Royal LePage House Price Survey. The post-recession real estate recovery, which began in earnest in the third quarter of 2009, continued unabated in the first quarter of the year. While year-over-year unit …

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Markets in some cities are overheated while others show modest growth

OTTAWA, Ontario, March 29, 2010 — The Honourable Jim Flaherty, Minister of Finance, today introduced the Jobs and Economic Growth Act in the House of Commons. This legislation includes key elements of Budget 2010.

“Our government is moving to implement the remaining stimulus measures from Canada’s Economic Action Plan to help secure our country’s economic recovery, …

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Minister of Finance Introduces the Jobs and Economic Growth Act

Pending home sales and residential construction both posted significant increases in September, according to separate reports released today by the Commerce Department and National Association of Realtors (NAR), signaling that the housing market may be pulling out of its doldrums.

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[News] Home Sales, Residential Construction Increase

The U.S. Senate has reached broad agreement on a bill to extend the $8,000 first-time homebuyer tax credit and offer a credit to existing homeowners as well, according to numerous media sources.

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[News] Senate Said to Agree on Extending Homebuyer Tax Credit

U.S. home prices rose for the fourth consecutive month in August, according to the monthly Standard & Poors/Case Shiller Index, although rising unemployment and the pending expiration of the first-time homebuyer’s tax credit raise doubts about whether the trend can be sustained.

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[News] Case-Shiller: Home Prices Rising

A government program designed to help at-risk homeowners refinance their mortgages is struggling, even as conventional mortgage refinances have surged in response to historically low interest rates.

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[News] Government Mortgage Refinance Program Struggling

Existing home sales posted a strong increase in September, according to the National Association of Realtors, as first-time homebuyers took advantage of low interest rates and a soon-to-expire $8,000 tax credit.

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[News] Existing Home Sales Up Strongly in September

The Index of Leading Economic Indicators rose again in September, making six straight months the index has risen and providing hope that an economic recovery is in the offing.

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[News] Leading Economic Indicators Up Six Straight Months