For the first time in 10 years, new Canadian home prices have declined by 0.4% in October 08 over Sept 08 as new figures indicate from Statistics Canada. However, YoY, house prices were up by 1.5% in Canada. You can also see my previous report and thoughts on the Toronto real-estate Oct/Nov 08 market here.

In other news, in the US, fixed 30 year mortgage rates are now 5.47%, the lowest in almost 43 years. YoY, a 15 year fixed mortgage was 5.78%