More than half of young adults waiting till next year to buy home...
However, their willingness to hold off is only 10% higher than the national average. And 43% still intend to buy in the next two years. So, this is no doom and gloom scenario, but it has implications for mortgage originators: What are you doing to help instill confidence in potential homebuyers so they buy sooner rather than later?
· TSX -94.88 to 14,107.77 as energy and mining stocks failed to respond to higher oil and metals prices while traders dealt with more uncertainty after another 7.4 earthquake struck Japan . But the index moved off session lows after a tsunami warning for a coastal area already ravaged by last month’s tsunami was cancelled.
· DOW -17.26 to 12,409.49
· Dollar +.21c to 104.33c USD as investors also took in a quarter point interest rate hike by the European Central Bank.
· Oil +$1.47 to $110.30USD per barrel a new two-and-a-half year high. But with oil prices up almost 30 per cent since February amid conflict in Libya, a weakening U.S. dollar and China’s fourth interest rate hike since October, energy stocks were backing off as analysts expect crude prices to ease somewhat.
· Gold +$.80 to $1459.30 per ounce Gold prices rose to another new record high as investors looked for safe havens amid worries about risks ranging from political turmoil in Libya and the nuclear crisis in Japan to the threat of sovereign debt default in Europe as Moody’s downgraded Portugal’s long term credit rating.
· Canadian 5 yr bond yields markets +.01bps to 2.85. The spread (based on the NEW MERIX 5 yr rate published rate of 4.39%) now has lots of room at the top of the comfort zone at 1.54.
(courtesy of Barb Morgan, DBD Ontario Southwest)
