Some breaking news about the Canadian real estate market from Rueters and the Business News Network:

"Sales of existing homes in Canada fell 4.4 percent in April from March as activity dropped off after a first-quarter rush to buy before the introduction of new mortgage rules. The Canadian Real Estate Association (CREA) said on Tuesday that 36,564 homes changed hands in April, down from 38,263 in March.The decline came as little surprise as tighter mortgage rules, which took aim at mortgage amortization and refinancing, came into effect early in the spring."Changes to mortgage regulations that took effect in April 2011 likely sidelined a number of first-time homebuyers," said Gregory Klump, CREA's chief economist.

Analysts predict the housing market will "...     Please click here to continue reading this article

Sincerely,

Peggy Hill, Broker of Record

Peggy Hill & Associates Realty

Office: (705) 739-4455