Mortgage rates rise along with housing starts + MORE Jun 13th

While rising home prices are good news for sellers and buyers seeking a sound investment, they can also make it that much harder for some Canadians to enter into homeownership.
As a recent article from The Globe and Mail points out, even with mortgage tightening and a dip in sales, home prices continue to remain high throughout the country. As home sales decreased, so did the number of homeowners putting their properties up for sale, keeping the inventory of available properties fairly low, and, by extension, prices high.
"The latest data suggest that the softening in prices is likely to be milder than expected," the article stated. "In Vancouver, the city that was the frothiest in 2011 and the hardest hit by last year's correction, prices did decline. But they're already on the mend."
Saving money on mortgage rates
One way for buyers to make homeownership more affordable is by focusing on obtaining the best mortgage rates. A low mortgage rate will result in less interest building up over the lifespan of a loan, meaning less money spent overall…

Home Trust Company 5 year Closed mortgage rate was changed on June 12, 2013

Do you have an employer sponsored pension plan? Consider yourself lucky. Today fewer than three in 10 Canadians have a company pension plan – and those who do face an uphill battle with their savings. While low interest rates are welcomed if you’re paying off debt like a mortgage or credit card, they pose a challenge for retirees and company pension plans who depend on interest rates for decent returns.
Despite the low rate environment, though, new developments are in store for pensions in 2013. The Mercer Pensions Health Index reached 91 per cent for May, up from 86 per cent in April and 82 per cent at the beginner of 2013.
Behind the Numbers
So why is the solvency of pension plans all of a sudden improving? “Pension plans are getting a boost from three key sources: buoyant equity markets, rising long-term interest rates and plan sponsors making contributions to fund the deficits,” says Manuel Monteiro, a partner in Mercer’s financial strategy group. “For many plan sponsors, getting back to a fully funded status is now clearly in sight…

Home Trust Company 6 months Closed mortgage rate was changed on June 12, 2013

Rays of sunlight are peeking through the clouds that have been hanging over the Canadian real estate market as of late.
According to the Canada Mortgage and Housing Corporation, the seasonally adjusted annual rate for housing starts during May was 200,178 units. This marks a significant increase from 175,922 units during April. As far as urban housing starts go, the seasonally adjusted annual rate increased 14.6 percent during May, reaching 177,234 units. This can be attributed to a 22.2 percent increase in multiple urban starts, reaching 114,346 units. Meanwhile, single urban starts rose 3 percent during this time period, reaching 62,888 units.
According to The Globe and Mail, these figures, along with positive data regarding the addition of new Canadian jobs, has led to the Canadian dollar gaining in value.
"May's increase in home building suggests overall housing construction continues to garner support from condominium-related building, although the overall levels are still off from the highs seen in mid-2012 when the market was more frothy," said Emanuella Enenajor, economist at CIBC World Markets…