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Blog by Steve Burk

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Housing Starts

August 14th, 2006
The housing starts statistics was out last Wednesday. July’s housing startsfor Canada came at 236,500 annualized,the same as the previous month. Thesingle detached starts declined for the fifth time in the last 6 months.The multiples starts increased for a third consecutive month to reach112,900.   B.C. had one of the best performances with starts up by 19.4%.   Surprisingly, Alberta’s st ...

Mortgage Update

August 9th, 2006
The slow down of the U.S housing market has finally effected the U.Seconomic growth. Last Friday’s GDP Numbers showed that the economic growthin U.S slowed to a below potential rate of 2.5% in the second quarter fromthe robust rate of 5.6% in the first quarter. The higher interest rates arefinally taking the steam out of the mortgage refinancing and housingwealth.   In U.S sale of existing ...

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