CREA revision led by two obvious markets
The Canadian Real Estate Association (CREA) has upwardly revised its forecast for annual housing sales in 2014 and 2015, projecting 481,300 units in 2014 – an annual increase of 5.1 per cent and the strongest annual sales since 2007.
Scotiabank breaks from the pack with interest rate prediction
Most economists forecast that the first interest rate rise will be in the second half of 2015, possibly in the fall.
Residential building permits fall in latest report
The total value of building permits was $7.5 billion in October, edging up 0.7 per cent from September according to data from StatsCan.
Exclusive: Economist forecast for 2015 and beyond
In a one-on-one interview with MortgageBrokerNews.ca, one economist discussed the biggest issues facing brokers in 2015 as well as a forecast for the condo market over the next few years.
More layoffs to come?
Expect more cuts to come, says one broker, following the announcement that one big bank has axed 1,500 jobs.
Building permits increase in September
The value of building permits issued in September was 12.7 per cent higher in September following a drop of almost a third the previous month.
Scotiabank cuts 1,500 positions
Brokers are already bracing for a surge in the number of mortgage specialists entering the channel, with one big bank’s announcement that it will shed 1,500 positions in a drive to achieve “greater efficiencies” – even at a cost of $148 million.
Nova Scotia plans $50 million affordable housing boost
A new rental supplements program in Nova Scotia will give the region a much needed boost for affordable housing for seniors and low income families.
September sales slowdown; the year’s first decline
Despite a positive year-over-year result, national home sales were down in September; the first monthly decline since January.
Housing bubble fears are overblown says bank chief
The CEO of the Bank of Nova Scotia says that concerns over a housing bubble are overblown and the word ‘bubble’ is overused.