Bank of Canada Chief says Canada Housing Market Not a Bubble

Bank of Canada Chief says Canada Housing Market Not a Bubble I love to share good news.... especially good news for homebuyers and sellers as well as existing mortgage holders! The Bank of Canada announced a balanced housing market as well as stable interest rates. This economic outlook should give a solid push to the housing market. OTTAWA — Canada’s housing market is not in a bubble and not likely to suffer a sudden and sharp correction in prices unless there is another major global shock to the economy, Bank of Canada governor Stephen Poloz said this week. The central banker, testifying before the Senate banking committee on his latest economic outlook Wednesday, said he believes the most likely scenario is a soft landing where home prices stabilize, although he acknowledged that an imbalance in the market and high household debt remain key risks. Poloz used the testimony to pointedly disagree with a couple of forecasting organizations that weighed in this week on the Canadian situation — the Fitch Rating service that judged Canada’s housing market as 21% overpriced, and an OECD recommendation that he start raising interest rates in a year’s time. Warm Regards, Jared Dreyer - Dreyer Group Mortgage Team Your Mortgage Professionals Top 10 Mortgage Team in Canada 604 649-5991 1-800-687-9020 www.dreyergroup.ca clientservices@dreyergroup.ca Article content provided by Financial Post ________________________________________ About Dreyer Group Smiles Dreyer Group Smiles is a program dedicated to giving to facilities that provide safe and transitional housing to children and youth. By providing funds to these programs, Dreyer Group will make a meaningful difference to kids who otherwise may not have a roof over their heads, or hope for a bright future. Dreyer Group hopes to expand this effort through their clients and business partners. In addition, they plan to raise additional funds through annual events and corporate fundraising initiatives. Dreyer Group is working closely with the Salvation Army to allocate these funds to the children and shelters. About Dreyer Group Mortgages, A Member of the VERICO Brokers Network As a senior mortgage consulting team with extensive experience in the financial services industry and thousands of happy clients, we understand what it takes to build long-term relationships through service and expertise. As an independent brokerage, we are not restricted to one financial institutions mortgage options. We provide the best range of financing solutions by accessing over 40 lenders and hundreds of products coast-to-coast. Each VERICO member is an independently owned and operated business. Copyright © 2008 REFINANCING OR NEW HOME PURCHASE 3.39% 5 YEAR FIXED 2.50% 5 YEAR VRM CONDITIONS APPLY All rates quoted are on approved credit and subject to change. Apply Now to Book Your Best Rate Just wanted to share... HootSuite Manage all your social media from one place! HootSuite really streamlines your social media effort. Create one post, click and it goes to all your social media. You can also schedule posts for a future date. What is it exactly? HootSuite is a social media management system created by Ryan Holmes in 2008. The system’s user interface takes the form of a dashboard, and supports social network integrations for Twitter, Facebook, LinkedIn, Google+, Foursquare, MySpace, WordPress, TrendSpottr and Mixi. As of August 1, 2013, HootSuite is based in Vancouver, British Columbia, Canada, operates on a freemium model, and has over 7 million users in more than 175 countries. Check it out when you have time A portion of every mortgage we fund goes towards safe housing and education for kids!