Edmonton, April 6, 2010: Housing figures released by the REALTORS® Association of Edmonton for March and the first quarter of 2010 show that resale housing prices are up; listings and sales are up. “There is consumer confidence in this market and both buyers and sellers appear eager to enter the housing market,” said Larry Westergard, president of the REALTORS® Association of Edmonton. “Prices are up about 10% from a year ago and sellers are eager to take advantage. Buyers are ... Full Article...

As many of you are aware already, a news conference was held this morning in Ottawa by the Federal Finance Minister Jim Flaherty. He announced three major changes to mortgage insurance rules which will affect all government backed insurance programs. 1. All borrowers will need to qualify at a five year rate regardless of whether they are choosing a shorter term or a variable rate mortgage. It is unclear whether this rate will be the posted or discounted rate as we await clarity for this quest ... Full Article...

Canada's big banks have begun raising their mortgage rates, with industry watchers saying this is likely just the beginning of a cycle of rate hikes that could see the cost of financing a home rise by 1.5 per cent within the next year. Three of the big banks -- RBC Royal Bank, Laurentian Bank, and TD Canada Trust --announced their rate hikes Monday afternoon, and they took effect today. National Bank followed suit Tuesday, with its adjusted rates to take effect on Wednesday. The changes affect ... Full Article...