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Dear
Nitesh,
Here are some housing stats and mortgage information published by CMHC
and other housing agencies in Canada.
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Housing market to slow down in 2008
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"Continuing high employment levels, income gains and low mortgage
rates have been a boon to Canada's housing markets. Despite this,
however, housing starts are expected to decrease in 2008," said
Bob Dugan, Chief Economist at CMHC. "The pull back in housing
starts next year will be mainly due to the increases in house prices in
recent years, which have pushed mortgage carrying costs higher."
To read the full report, click here.
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Thinking of renovating? Consider this...
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17% of all energy used in Canada goes towards running out homes. By
using less energy, you can help reduce the production of greenhouse gas
emissions that directly effect climate change.
- 25 yr old homes can
potentially save 35% of energy use.
- 50 yr old homes can
potentially save 38% of energy use.
The Government of Canada now offers grants to home
owners, upto $5000, to make thier homes eco-friendly. Here is a list of
few things that qualify under the program:
- Major appliances
- Heating equipment
- Windows
- Doors
- Skylights
- Residential lighting
To
see if you can take advantage of this offer, click here.
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Rental Affordability Study ranks Canada's 5 major cities
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Montreal's rental market is the most affordable of
Canada's five major centres, according to Canada Mortgage and Housing
Corporation (CMHC)'s new rental affordability indicator. However, this
year rental affordability in Toronto is increasing, while it is
declining in Calgary and Montreal and remains stable in both Vancouver
and Halifax.
To read the full report, click here.
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Hope you found
this edition of Housing Stats & Mortgage Market Information usefull
and informative. I look forward to providing you with more insider's
knowledge next month.
Nitesh Kumar, AMP
Mortgage Consultant
T 416.419.2566
F 905.671.9753
E info@niteshkumar.com
W www.NiteshKumar.com
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