Despite the steadily dropping sales throughout the year, 2007 ended up
with the fifth highest sales of existing homes on record. 5,652,000
existing homes sold during the year but this was 12.8 percent fewer units
than the 6,478,000 sold in 2006.
OTTAWA, Ontario, January 24, 2008 — The Bank of Canada today released its January Monetary Policy Report Update. In this Update, the Bank said that the Canadian economy continues to operate above its production capacity, despite some slowing in growth in the fourth quarter of 2007. Both total and core inflation have been lower than projected in the October Monetary Policy Report, largely …
The National Association of Realtors announced today that existing home sales in December 2007 dropped a modest 2.2% when compared to November.
Reuter’s news agency was announcing late Thursday morning that the
U.S. economic stimulus package being hammered out in Congress
would include a temporary up tick in the size of loans
that Freddie Mac and Fannie Mae would be allowed to purchase.
Mortgage rates continued to fall during the week
ended January 17 according to the results of the Primary Mortgage Market
Survey released by Freddie Mac and, in the case of 30 and 15-year fixed
rate mortgages (FRMs) reached the lowest level since July 2005.