HSBC’s Stewart Hall thinks the BoC will cut rates Jan. 22 so incoming governor Mark Carney won’t have to.
If Canada’s economy slows Profit magazine thinks mortgage brokers will be in higher demand. They say more mortgage planners would be called upon “to help the overextended renegotiate their [mortgages].”
The National Associate of Realtors thinks U.S. home sales will start recovering by late 2008.
Today’s reality check comes from Laurie Campbell, executive director of Credit Canada. Campbell says, “Canadians have never been in higher debt.” She says we’ve been maxing out our “credit lines to the limit” and blowing our budgets “big time.”
The American Dialect Society picked “subprime” as its 2007 word of the year. It beat out stiff competition from “green” and “Facebook.”
“In my 30 years’ experience, I have never seen [office space] fundamentals as strong as they are now.” — Brookfield Properties President Tom Farley.
Shares of Countrywide, America’s biggest mortgage lender, are at an all-time low. The company is shifting away from it’s (formerly more profitable) subprime business and grappling with mounting foreclosures.
Like news like this?
Join our CMT Updates list and get the latest news as it happens. Unsubscribe anytime.
Thank you for subscribing. One more step: Please confirm your subscription via the email sent to you.