Housing downturn may spread The best days for Canadian housing markets are behind us, says a Scotiabank report released Thursday. But our mortgage market won't implode as it has in the United States. We have a smaller subprime mortgage market, prudent lending and more funding of mortgages by retail deposits on lenders' balance sheets (not securities). A day earlier, Merrill Lynch Canada released a downbeat report saying that Canadian households are just as overextended as those in the U.S. - despite the view that lenders... Read More   Mortgage rate hike sign of things to come? The posted interest rates on five-year mortgages jumped more than a third of a percentage point to 7.2 per cent at major Canadian banks this week. Blame market jitters and Uncle Sam. Bond markets have pushed long-term interest rates higher in reaction to U.S. plans to borrow an extra $1.5 trillion (U.S.) or so to bail out assorted lenders and, if the Democrats get their way, struggling homeowners. There may be worse to come. Read More   Mattamy wins OHBA top builder honours Mattamy Homes of Oakville was named 2008 Ontario Home Builder of the Year by the Ontario Home Builders' Association at the OHBA Awards of Distinction earlier this week, while Toronto-based Minto took Green Builder honours. Read More   Banks hike home mortgage rates amid inflation worries Mortgage rates in Canada are heading higher as fears of inflation resonate through the bond market, while U.S. legislators move toward agreement on a $700-billion US bailout plan for Wall Street banks. Read More

More... Canada not immune; Housing markets could crash like U.S., report says 'Tipping point' imminent; Economists see housing and mortgage meltdown coming to Canada Mortgage reforms on the horizon Voting on the L-word; City council faces a LEED decision tonight Bankers fear hits as crisis widens; Predict slowdown in lending amid tougher standards and higher.. Genworth Homeownership Website To Help Educate Homebuyers Freeze about to be lifted; Report means end to moratorium on residential development in Simcoe 'Urban village' eyed for GCC property; Existing facilities will not be demolished, developers say J.D. Power and Associates Reports: NuVista Homes Ranks Highest in Satisfying New-Home Buyers in the. J.D. Power and Associates Reports: Daytona Homes Ranks Highest in Satisfying Buyers of New...

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