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REPEAT-Media Advisory/Interview Opportunity-Canadian Housing Outlook for 2013: BMO Hosts Conference Call

Jan 7 2013 12:00AM

Marketwire

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TORONTO, ONTARIO -- (Marketwire) -- 01/07/13 -- Canada's housing market has undergone a major shift since the beginning of last year. Sales are down in some of Canada's major markets - Toronto and Vancouver are off double digits compared to a year ago, while even Calgary has simmered down after a year that saw a double-digit rise in sales.

Stricter mortgage lending guidelines, including a reduced maximum amortization period and a purchase price ceiling of $1 million dollars for government insured mortgages, have prompted some potential buyers to move to the sidelines.

Meanwhile, real estate prices - with the exception of some areas in Vancouver - are holding steady, supported by low interest rates. Since 2000, the price of houses across Canada has more than doubled on average.

Experts from BMO, RE/MAX and the Canadian Home Builders' Association will participate in a conference call to discuss the real estate environment in Canada, and what prospective buyers and sellers need to keep in mind. Panellists will discuss the following topics:

-- What is in store for the Canadian housing market over the coming year?-- What is different from last year for Canadian homeowners looking to buy or sell their home?-- What key trends are emerging in Canadian real estate?-- The financial ins-and-outs of purchasing a home, including the importance of home inspections and pre-approvals.What: BMO, RE/MAX, the Canadian Home Builders' Association discuss the Canadian Housing MarketWho: Sal Guatieri, Senior Economist, BMO Capital Markets Conrad Zurini, Broker of Record, RE/MAX Escarpment Reality Inc. John Turner, National Director, Specialized Lending, BMO Bank of Montreal Charron Ungar, President Canadian Home Builders' Association - Calgary RegionWhen: Tuesday, January 8, 2013; 11:00 a.m. - 11:30 a.m. ET



Media Dial-in: 416-641-2144 / 1-866-696-5910

Participant Passcode: 8636439

Passcode: To confirm your attendance of if you have any questions, please contact BMO Media Relations at (416) 867-3996.

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $525 billion as at October 31, 2012, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.



Contacts:
BMO Media Relations
(416) 867-3996





Source: Marketwire


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