October 18, 2011 - Residential Market Update

 

 

 

Ginette Nason Account Manager Golden Horseshoe T: 905.630.2794 E: ginette.nason@firstnational.ca         Residential Market Update     Canada Mortgage Bonds         Our Partners      Canada Housing 5 yr : 1.88%         Market Commentary   Bond yields today are roughly where they were a week ago but there has been plenty of volatility over the intervening period. Last week yields were pushed higher by in-line or better than expected economic data in Canada (Manufacturing Sales Growth, Trade Balance) and the US (Retail Sales Growth, Initial and Continuing Jobless Claims, Trade Balance), together with a sense of optimism that the European debt crisis will be resolved and/or that concerted steps there would be taken to protect the banking system. Generally speaking, "good" economic news tends to push bond yields higher as market participants are less interested in the safety bonds provide. Notwithstanding last week's developments, yields have come back down today as worse than expected economic data in the US and a clarification from Germany that a once-and-for-all solution to Europe's debt crisis will not be forthcoming and that markets should expect such crisis to extend into next year. In all, these developments present the global economy in better shape than what we thought at the start of the week, and the rise in rates reflects that change. Are you going to CAAMP? Use your Wizard Rewards dollars towards your CAAMP registration. Simply go to the conference site conference site,follow the steps and select Rewards as your method of payment. Don't wait, register now! The CAAMP offer expires Friday, October 28 2011. Early bird registration is Friday,October 21 2011.       Financing Tips   Canadian homeowners look for new property within two years of purchasing their first home. Ontario was the province with the highest percentage of repeat buyers at 71% moving on to a larger or more luxurious home. Post client home financing is key to keeping up a relationship for repeat business. In this case clients want more. Sooner! So keep in touch.     unsubscribe | privacy policy | disclaimers © First National Financial LP 100 University Avenue, North Tower, Suite 700, Toronto, Ontario M5J 1V6. First National is licensed under the Mortgage Brokers, Lenders and Administrators Act 2006 (Ontario) Licence No. 10514