Welcome Investors.

The following are brief excerpts from recent mortgage related articles:

Higher Dollar Puts More Cash In The Pockets Of Homeowners

The report, by Canadian Imperial Bank of Commerce economist Benjamin Tal, finds that the strong dollar has put the brakes on interest rate increases and Canadians have been quick to cash in on the results by refinancing their mortgages at lower rates and borrowing against the rising value of their homes.

Over Half a Million Households in Six Major Centres Intend to Buy a Home in 2005

OTTAWA, March 7, 2005 — Over 570,000 households in Halifax, Montréal, Ottawa, Toronto, Calgary and Vancouver, are thinking of buying a home this year ... "Consumer intentions across the six major markets remain positive, with more than one in ten households thinking about buying a home this year"

Residential Construction Rebounds in February

OTTAWA, March 8, 2005 - "Housing starts rebounded in February back to levels more consistent with our outlook for the year," said Bob Dugan, Chief Economist at CMHC's Market Analysis Centre. "Strong growth in domestic demand, healthy levels of immigration and low mortgage rates continue to fuel the activity in the new home market."

The Song Remains the Same for Rates

March 1, 2005 - As was unanimously expected, the Bank of Canada opted to leave rates unchanged at 2.50 per cent. But more importantly, despite yesterday's meager GDP results, the tone of the Bank's statement did not reflect any sort of downgrading in its assessment of the economy. In fact, those looking for a more dovish Bank or even the signal of a rate cut in the future will be disappointed as today's communique suggests that the odds favour hikes in the second half of this year.

Market Finding Its Groove

After a few roller-coaster years, things may be starting to go the buyers way. After breaking sales records in 2002, when 15,286 units were sold, the market for high-rise condominiums in 2005 can be best described as the closest thing to a buyers' market Toronto has seen in 15 years.

Myra McKeen, Broker of Record
Milestone Real Estate Inc. - Brokerage
Tel: 613-567-2400 | Fax: 613-567-0404
myra@milestonerealestate.ca