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Housing Market 2008
"Canada Shouldn't Talk Itself Into a Recession" Says MortgageBrokers.com's CEO
- MortgageBrokers.com CEO predicts a hot 2008-2009 Housing and Mortgage
Market for Canada.
- MortgageBrokers.com urges bank of Canada to be more aggressive in Rate Cuts for 2008.
TORONTO - Contrary to the turmoil in the US mortgage markets, the Canadian mortgage and housing markets are in good shape. Homebuyers and other industry consumers should not worry about similar meltdowns occurring in the Canadian mortgage market, according to MortgageBrokers.com, Canada's only publicly traded mortgage brokerage firm trading in NASDAQ (MBKR).
"The Canadian mortgage and housing markets have had their challenges, but
we firmly believe that these markets operate on a solid foundation versus
current U.S. conditions," says Alex Haditaghi, CEO of MortgageBrokers.com.
Recent articles, commentaries and news about the potential of what has
happened in the U.S. sub-prime mortgage industry extending into Canada has
certainly had a negative psychological effect within the Canadian housing and
mortgage industry.
Haditaghi adds: "So far, north of border, we haven't experienced what our
U.S. counterparts are going through due to several factors which are not
applicable to Canada. In our opinion, looking forward, we expect a strong 2008
and 2009 for the Canadian mortgage and housing markets."
Alex Haditaghi continued by stating that "we firmly believe that Current
rates, available mortgage products and projected rate cuts in Canada will
actually make the market more active."
Alex Haditaghi, MortgageBrokers.com's CEO, addresses several market
distinctions when comparing the current conditions of the Canadian and U.S.
housing and mortgage industries. His thoughts could be found at:
http://mortgagebrokers.com/knowledgecentre/pressrelease/pr20080130.pdf
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