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Aug 11, 2014

Canadian housing starts rise in July, bucking forecasts

TORONTO, Aug 11 (Reuters) – Canadian housing starts bucked
forecasts and rose in July, data on Monday showed, but analysts
said the recent resumption of the housing market’s upward drive
is likely to falter if mortgage rates rise as expected heading
into 2015.

Canada Mortgage and Housing Corp said the seasonally
adjusted annualized rate of housing starts rose to 200,098 last
month from a upwardly revised 198,665 units in June.

Aug 6, 2014

Top women players tell FIFA: World Cup on turf is discriminatory

TORONTO (Reuters) – Some of the world’s top women soccer players say FIFA’s proposal to play the 2015 Women’s World Cup finals in Canada on artificial turf instead of grass is discriminatory and violates human rights.

The World Cup finals for men and women, contested every four years, have always been played on natural grass. Players and coaches believe there is a higher risk of injury on artificial turf and that it causes more wear and tear on athletes’ bodies.

Jul 15, 2014

Canadian home sales, prices, rise in June from May-association

TORONTO, July 15 (Reuters) – Sales of existing homes in
Canada rose in June from May, notching the fifth straight
monthly increase after a slow winter and taking sales to their
highest level since March 2010, the Canadian Real Estate
Association said on Tuesday.

The industry group for Canadian real estate agents said
sales activity was up 0.8 percent last month after May’s robust
6.1 percent rise, suggesting the sharp bounceback after a harsh
winter may be losing steam.

Jul 9, 2014

Canadian housing starts unexpectedly rise in June

TORONTO, July 9 (Reuters) – Canadian housing starts rose in
June, bucking expectations for a modest slowdown in the month
and suggesting the building sector added to economic growth in
the second quarter after a brutal winter, data released on
Wednesday showed.

A report from the Canada Mortgage and Housing Corp showed
the seasonally-adjusted annualized rate of housing starts rose
to 198,185 last month from a downwardly revised 196,993 units in
May.

Jun 27, 2014

RBC Wealth seeking deals to boost alternative assets

New York (Reuters) – Royal Bank of Canada’s (RY.TO: Quote, Profile, Research, Stock Buzz) wealth management division, Canada’s biggest player in the high net worth arena, is on the lookout for acquisitions to grow its presence in alternative assets, particularly real estate, and beef up U.S. distribution.

“On the asset management side, we have a viable organic strategy but relatively small business here compared to worldwide. We would be interested in acquisitions that broadened capability in that business,” George Lewis, group head, RBC Wealth Management and RBC Insurance, said on Monday.

Jun 18, 2014

World’s millionaires growing, and they’re getting richer

New York (Reuters) – The number of millionaires worldwide grew by nearly 2 million last year and the group grew nearly 14 percent richer, boosted by rising stock markets and improving economies, according to a study released on Wednesday.

The number of high net worth individuals, who have $1 million or more to invest, rose 15 percent to 13.7 million in 2013, and their combined wealth rose to $52.62 trillion, marking five years of growth since the 2008 financial crisis, according to Capgemini and RBC Wealth Management’s latest world wealth report.

Jun 16, 2014

RBC Wealth seeking deals to boost alternative assets

New York (Reuters) – Royal Bank of Canada’s wealth management division, Canada’s biggest player in the high net worth arena, is on the lookout for acquisitions to grow its presence in alternative assets, particularly real estate, and beef up U.S. distribution.

“On the asset management side, we have a viable organic strategy but relatively small business here compared to worldwide. We would be interested in acquisitions that broadened capability in that business,” George Lewis, group head, RBC Wealth Management and RBC Insurance, said on Monday.

Jun 12, 2014

Canada home prices rise, but market appears to be cooling

OTTAWA, (Reuters) – After five years of unsteady gains, the Canadian housing market appears to be cooling with regional disparities looming large, two reports showed on Thursday.

The Teranet-National Bank Composite House Price Index, which measures price changes for repeat sales of single-family homes, showed national home prices rose 0.8 percent in May, but it also showed the pace of price appreciation decelerating slightly on a year-on-year basis.

Jun 9, 2014

Canadian housing starts surge in May, boosting GDP growth

TORONTO, June 9 (Reuters) – Canadian housing starts picked
up more than expected in May and April was revised higher,
suggesting housing will contribute to economic growth in the
second quarter after a harsh winter put the brakes on
construction, data released on Monday showed.

A report from the Canada Mortgage and Housing Corp showed
the seasonally adjusted annualized rate of housing starts rose
to 198,324 in May from an upwardly revised 196,687 units in
April. That surpassed analysts’ expectations for a May reading
of 185,000.

Jun 6, 2014

Canada housing agency trims insurance offerings

TORONTO, June 6 (Reuters) – Canada’s federal housing agency
will no longer offer mortgage insurance for condo construction,
it said on Friday as it made further changes to its programs
with the aim of cutting risks amid the country’s housing boom.

Canada Mortgage and Housing Corp (CMHC) also said it will
restrict mortgages insured via low loan-to-value bulk insurance
by limiting their maximum purchase price, mortgage length and
debt service ratio.