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Article Excerpt M2 PRESSWIRE-26 April 2007-TwinTrader.com: TwinTrader.com reports on the OTC and OTCBB Trade Leaders: BioLife Solutions Inc (OTCBB: BLFS), BlastGard International (OTCBB: BLGA), Viking Power (OTC: VKPW), Allied Energy Group (OTC: AGGI), and Focus Stock of the Day MortgageBrokers.com Inc (OTCBB: MBKR) for April 26, 2007.(C)1994-2007 M2 COMMUNICATIONS LTD
RDATE:26042007
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TwinTrader Focus Stock for Thursday - MortgageBrokers.com Inc (OTCBB: MBKR) - TwinTrader's Profile Company Trading at $1.21
Mortgage and Housing Market Going Strong North of the Border announces MortgageBrokers.com
As the U.S. housing market falters, with the demise of Subprime lenders such as Accredited home lenders and New Century Mortgage the latest figures show all aspects of the Canadian market going strong with experts predicting a refinance boom.
Alex Haditaghi, CEO of MortgageBrokers.com says the housing market was 'quick out of the gate this year,' driven by many aspects including moderate interest rates, high employment, continued strong immigration to Canada and strong consumer confidence. We expect a very healthy 2007 for both the housing and Mortgage market.
Haditaghi's enthusiasm echoes reports released by Remax, CIMBL, and Bank Of Nova Scotia. Adrienne Warren an economist for Bank of Nova Scotia called the Canadian market 'the rabbit that just keeps on going and going.' Although the market is likely to cool some by the end of the year, home resales set a record in January and housing starts hit a 29-month high with the assistance of mild weather, Warren said.
Prices remain great as well, Warren noted. 'The trend in national new- and existing-home prices, while off the highs of last spring, is still averaging about 10 per cent year-over-year.' The Canadian market is in a very different situation than the United States.
The U.S. is currently burdened with higher default rates as a direct effect of the amount of high-risk subprime loans. In Canada subprime loans make up 5 percent of outstanding mortgages compared to the 20 percent in the United States. At the present time Canadian Default rate is around 0.5% The Canadian market has remained robust, with the highest number of home sales in its history between 2001 and...
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