September 2009 
There are 4 blog entries for September 2009.
Housing affordability improves, RBC says
It's becoming easier to carry the costs of home ownership in Canada, but a survey by RBC Economics on housing affordability suggests this may be as good as it's going to get.
Home ownership became more affordable in the second quarter, the bank said Wednesday. It was the fifth straight quarter that the measure improved, it said.
"The national home affordability level has been restored to pre-housing boom levels," senior RBC economist Robert Hogue said in a statement.
But he warned that consumers shouldn't expect affordability to improve much more.
"The recuperative phase of the affordability cycle seems to be drawing to a close, with housing prices firming up in many parts of the country, and mortgage rates no longer trending downward," Hogue…
Should I Purchase My Home Now or Wait for the Market to Stabilize?
Many people are debating whether they want to buy a property now or whether they should wait. They are getting mixed messages from the media about the market conditions and the state of the economy. Reports are indicating that the real estate market is rebounding. However, we are still hearing negative news about businesses folding and job losses. So is now a good time to buy?
The decision whether to buy a home now or wait is very tricky at the moment. On the one hand you have very low mortgage rates as the Bank of Canada had cut the interest rate several times in the last few months to try and get the banks lending again. Deals as low as 2.75% are being advertised to entice new customers into the market and get the chain moving again. Also, property…
Same Day Closings
Here is a very usueful article that I recently came across in AREA's newsletter dealing with coinciding possession days:
In assisting buyers with their home closing needs, we often encounter circumstances where the possession day on a buyer’s new home purchase is the same as the closing date on their existing house sale. In some cases, both transactions are scheduled to close on a weekend or a holiday. Unfortunately, many of these buyers are ill prepared by their representatives for the same-day closings and, as a result, are unaware of the potential need for interim (bridge) financing. If the requirement for bridge financing only comes to the buyer’s attention at the last moment, the costs and stress will usually be higher than had the buyer…
Bank of Canada Rate Hold
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent.
Global economic and financial developments have been broadly in line with the Bank's expectations. Following a deep, synchronous recession, recent indicators point to the start of recovery in major economies, supported by aggressive policy stimulus and the stabilization of global financial markets. In Canada, economic growth, the output gap, and inflation in the first half of 2009 have evolved largely as expected in the Bank's July Monetary Policy Report (MPR).
Stimulative monetary and fiscal policies, improved financial conditions, firmer commodity prices,…
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Last updated on: 2012-02-10 00:18:44
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- Thank you Joe... Words mean nothing when you can say that you achieved your goal to buy your dream house. Knowing absolutely nothing about the market, real estate or other relevant things we decided to buy a house. Sounds a little bit scary, I know. After a few weeks later faith gave us the chance to meat Joe. Starting from that moment everything made sense. We got a service based on professionalism, punctuality, knowledge and honest opinion, therefore here we are moving into our first home. Thank you Joe and hope everybody will have the luck to have you as their real estate agent.
- Noemi & Denes Donat
