OTTAWA, Ontario, December 21, 2001 — Alberta will lead all provinces in mortgage credit growth with a 3.3 per cent increase in 2002, reports the latest issue of Canada Mortgage and Housing Corporation's (CMHC), Mortgage Market Trends.
"Low mortgage rates, moderate house price appreciation and sustained home sales and housing starts will support further mortgage credit outstanding in 2002 by two to three per cent across the nation," said Réal Gratton, senior economist at CMHC's Market Analysis Centre.
National Housing Act Mortgage-Backed Securities are discussed in another article in this issue. "Heightened financial uncertainty led to lower short-term interest and mortgage rates, slowing the appetite for longer term mortgages and reducing mortgage funding through NHA MBS," said Gratton.
Mortgage Market Trends is the sole source of objective, credible mortgage market data and analysis in Canada. It examines developments in the primary and secondary mortgage markets and explores topical issues of interest to mortgagees, mortgagors, policy makers and the public. It is a quarterly publication of CMHC's Market Analysis Centre.
For further information contact:
Réal Gratton
CMHC
(613) 748-2239
Internet: rgratton@cmhc-schl.gc.ca