Here is a collection of recent Real Estate & Mortgage headlines.

Real estate may be turning us on once again [National Post]
Home buyers in Toronto are showing signs of returning confidence this summer.
According to the Toronto Real Estate Board, sales of existing homes were at 5,185 in the first half of June - a 19% rise over the same period last year.
"Households in the greater Toronto area have become more confident in purchasing a home over the past three months," said TREB president Maureen O'Neill in a release. "Affordability, due in part to very low borrowing costs, has played a key role." Full Story

Owning a second home more common thanks to Baby Boomers [Financial Post - June 20, 2009]
The rate of vacation home ownership in Canada is increasing, according to an analyst report out this week by Scotia Economics. Based on data from Statistics Canada and CMHC, 9% of Canadian households owned a second home -- cottage, resort condo or other vacation home -- in 2005, up from 7% in 1999. The Real Estate Trend report attributes this trend to the ageing population and Baby Boomers currently in their peak home-owning years. The median age of a second homeowner in Canada is 50. But the report also cautions that demand for vacation homes could slow over the coming decade as the "Baby Bust" generation -- those born between 1967 and 1979-- take over as vacation home buyers. This cohort is far smaller than the Boomers. As a result, potential cottage buyers might find some easing off in the prices seen over the past decade.

‘Irresistible' rates drive Canada's recovery [Globe & Mail]
It looks like a miraculous resurrection.
In the midst of recession, the average national price of Canadian resale homes hit a record level in May, and sales activity increased for the fourth consecutive month. While U.S. residential real estate prices have been falling for almost three years, Canada seems to have stumbled and picked itself up again in a span of 12 months.
To some real estate agents, the market looks as good as it did before the global financial crisis began to bite last summer.
“Without getting nitpicky, yes it does,” said Toronto real estate agent Laurin Jeffrey. “I just lost out on a multiple offer last night on a house, and my client asked me to have a look at what's going on with that sort of a house. In that price range and style of home, 14 out of 19 sales in the past 30 days have been at or above the asking price.” Full Story

If you have been considering purchasing your first home or refinancing you existing home, call a Mortgage Professional to find out if now is the right time for you. I can be reached at gbarrow@dominionlending.ca or by phone at 416 807 7123.

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