Andrea's Feed
Apr 30, 2015

Canada housing overvalued, but low risk of overheating – CMHC

TORONTO, April 30 (Reuters) – Canadian house prices are
slightly overvalued but there is low risk of overheating or
overbuilding, the federal housing agency said on Thursday in a
report that is at odds with persistent concerns that real estate
bubbles are growing in several cities.

In its quarterly measure of four risk factors that could
indicate problematic conditions in Canada’s housing markets, the
Canada Mortgage and Housing Corp said the national market is
perhaps 3 to 4 percent overvalued, below the 8 percent
overvaluation threshold it considers problematic.

Apr 23, 2015

Ontario pledges smaller deficits; labor unrest seen

TORONTO, April 23 (Reuters) – Ontario’s Liberal government
trimmed its budget deficit forecasts for the next two years on
Thursday as it unveiled a budget that seeks cost cuts in
education and healthcare, a move toward austerity that could
spark labor unrest across the province.

Ontario, Canada’s most populous province, which accounts for
about 40 percent of the country’s economy, will run a deficit of
C$8.5 billion ($7 billion) in the 2015-2016 fiscal year as it
aims to return to balanced books by 2017-2018, Finance Minister
Charles Sousa’s budget said.

Apr 21, 2015

ECB emergency funds to Greece directly tied to health of its banks: Dombret

TORONTO (Reuters) – The provision of European Central Bank emergency liquidity to Greece is “directly correlated” to the health of its banks and will continue as long as the preconditions are met, a top policymaker from Germany’s Bundesbank said on Tuesday.

Bundesbank board member Andreas Dombret declined to say how the ECB should respond if Greece defaulted.

Apr 17, 2015

Ontario Finance Minister sees pension fund interest in Hydro One

TORONTO, April 17 (Reuters) – Ontario Finance Minister
Charles Sousa said on Friday he expects all of Canada’s major
pension funds to be interested in a stake of Hydro One as the
province prepares to sell off 60 percent of the provincial
electricity transmission utility.

“Right now we know that a lot of the pension companies are
eager … it’s a good mix for their portfolio, they are hungry
for places to invest and this is one of those sectors in the
economy that gives them comfort,” Sousa said in an interview.

Apr 16, 2015

Ontario to sell 60 pct of Hydro One in IPO

TORONTO, April 16 (Reuters) – Ontario Premier Kathleen Wynne
said on Thursday her Liberal government would sell up to 60
percent of the province’s electrical utility Hydro One but would
limit minority shareholders to 10 percent stakes.

Canada’s most populous province would continue to regulate
electricity rates, Wynne told a news conference.

Apr 15, 2015

Canadian existing home sales rise in March – CREA

TORONTO, April 15 (Reuters) – Sales of existing homes in
Canada rose in March from February, led by gains in the big
Toronto and Vancouver markets, the Canadian Real Estate
Association (CREA) said on Wednesday.

The industry group for Canadian real estate agents said
sales were up 4.1 percent last month from February. Actual sales
for March, not seasonally adjusted, were up 9.5 percent from
March 2014.

Apr 14, 2015

Canada resale home prices hit new high in March

TORONTO, April 14 (Reuters) – Canadian home resale prices
rose to a record high in March, paced by gains in the two
biggest markets, the Teranet-National Bank Composite House Price
Index showed on Tuesday, but a correction appears underway in
other regions.

The index, which measures price changes for repeat sales of
single-family homes, showed national home prices rose 0.3
percent last month from February. Prices were up 4.7 percent
from a year earlier. The index does not provide actual prices.

Apr 10, 2015

Canadian housing starts rebound more than expected in March

TORONTO, April 10 (Reuters) – Canadian housing starts rose
much more sharply than expected in March as groundbreaking on
new condominiums and apartments in urban areas surged 48.2
percent, while February numbers were revised slightly lower,
data showed on Friday.

The report from the Canadian Mortgage and Housing Corp
showed the seasonally adjusted annualized rate of housing starts
rose to 189,708 units last month from a downwardly revised
151,238 units in February. This exceeded the 175,000 that
economists had expected.

Mar 13, 2015

Canadian existing homes sales rose in February -CREA

TORONTO, March 13 (Reuters) – Sales of existing homes in
Canada rose in February from January as gains in the biggest
markets of Toronto and Vancouver offset a faltering market
everywhere else, the Canadian Real Estate Association said on
Friday.

The industry group for Canadian real estate agents said
sales activity was up 1.0 percent last month from January, the
first monthly increase since October. Actual sales for February,
not seasonally adjusted, were up 2.7 percent from February 2014.

Mar 12, 2015

Canada home prices struggle, correction seen in some markets

TORONTO, March 12 (Reuters) – Prices for new homes in Canada
fell for the first time in nearly five years in January, and
figures for home resales in February showed a correction
underway in several markets with prices scratching out just a
slight gain nationally.

Another report on Thursday showed Canada’s household
debt-to-income ratio rose to a record high in the fourth
quarter, making consumers more vulnerable just as some
economists say the housing market is at a tipping point.