Canada new home prices hit record high, pace slows
Homeowners confident about ability to pay mortgages despite record debt levels...
Fewer respondents than in last year's survey said it was better to buy now rather than wait, suggesting that buyers aren't feeling the same sense of urgency to get into the market
· TSX -128.26 to 13,884,71 was lower for a third straight session, dragged down by mining stocks, and a debt laden Portugal, amid extra concerns that high oil prices due to unrest in Libya may slow the global economy and reduce demand for industrial metals. The main TSX index is up 83.4 per cent since its recessionary low point on Mar. 9, 2009, but is still about 1,000 points short of the all-time highs hit in the summer of 2008.
· DOW -1.29 to 12,213.09
· Dollar +.29c to 103.23c USD the dollar has benefitted from higher oil prices hitting its highest close since November 2007, when it touched $106 in after-hours trading. The Canadian dollar closed with an all-time high of $106.14 on Aug 20, 1957 and an all-time low of 61.97c on Jan 21, 2002. It’s expected to remain above parity for the rest of the 2011.
· Oil -$.64 to $104.38USD per barrel
· Gold +$2.40 to $1429.60 per ounce
· Canadian 5 yr bond yields markets -.06bps to 2.75. The spread (based on the MERIX 5 yr rate published rate of 4.14%) is near the bottom of the comfort zone at 1.39.
(Courtesy of Barb Morgan, DBD Ontario Southwest)
