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_A stronger economic recovâ€" ery and fairly stable mortgage interest rates will lead to someâ€" what stronger housing markets," said Marc Pellerin, CMHC‘s Capital Market Economist. However, the rate of expansion will remain well below the growth of 17â€"18% recorded durâ€" ing the 1987â€"1989 period. Residential mortgage credit grew 3.0% to $276.3 billion durâ€" ing the fourth quarter of 1992, according to a report released today by Canada Mortgage and Housing Corporation (CMHC). This brings the total increase for 1992 to 9.9%. The fourth quarter figure, which is the strongest since the middle of 1990, compares to an average increase of 2.2% recordâ€" ed during the first three quarters of 1992. The January issue of CMHC‘s Mortgage Market Trends reports that mortgage credit is forecast to grow by around 11% this year. Mortgage credit grows le The moderate increase in SYLVIA CROMPTON® B. 338â€"3030 R 82745( JEAN BESANT® B.847â€"3030 R 827457 m OPPORTUNITY KNOCKS! LOC T MEL WHITE* B. 847â€"3034 LISTED & SOLD By Canada Trust In 14 Days CLIZABETH PUFFER* 338â€"2201, 24 Hr. pager PA ONLY $189.000 DT m IDL ths The consensus view is for a moderate expansion of mortgage credit concentrated in single housing units. Job uncertainty and high debt levels will prevent the housing market from booming in spite of relatively low interest rates. Improving housing affordabiliâ€" ty through a longer amortization period is discussed in another article. The use of RRSP funds In the January issue, represenâ€" tatives of four of Canada‘s major lenders were invited to express their views on the outlook for the mortgage market in 1993. mortgage credit will be the result of sluggish growth in both the new and the resale markets along with listless house price appreciaâ€" tions. According to Pellerin, "The new market in 1993 will reflect diverging trends for single and multiple unit starts. Single unit starts are expected to increase by 14% while starts of multiple units will drop by about 5% due to lower starts of rental units." r a tree/no ODit value of your h ELIZABETH PUFFER 338â€"2201, 24 Hr. pager THIS SPACE Tastefully decorated Glen _ Sheridan Hills. Det. split level RESERVED FOR Orchard:homle. Central air & fin}?hedlrecl rhoc(;m P 4 ' 1 vac, gas fireplace. Nice air/tireplace, htd. ingroun YOCU|‘|{ ft} OME Iocat?on, rec. room mostly pool se‘-)paralely fencged, ingr. all NowW. finished. $289,900 sprinkler & more. $238,000 IAN or MARILYN WYKES* IAN or MARILYN WYKES* IAN or MARILYN WYKES* 338â€"2201 or 844â€"9859 338â€"2201 or 844â€"9859 338â€"2201 or 844â€"9859 LOCATION M. PARKHILL** 338â€"2201 or J. CONWAY* 858â€"3930 Issues of NHA Mortgageâ€" Backed Securities (MBS) surâ€" passed the $2 billion mark for the first time during the fourth quarâ€" ter of 1992. Lenders took advanâ€" tage of the NHA MBS program to offer refinancing facilities. One lender lowered the cost of refiâ€" nancing for mortgagors wanting to lockâ€"in their mortgage loan for five vears when rates for this term parative review of Canadian ai U.S. Mortgageâ€"Backed Securitic were a s ‘ *ug er Nflf â€" uCA + & â€" e â€" n y‘ CMCH accepts amortization periods up to 40 years. Higher total payments resulting from a longer amortization period could be offset if mortgagors choose, as is often the case, to pay off their mortgage loan faster as household incomes improve. and 95% mortgages has helped those having problems saving for a down payment. For those who find large monthly payments a problem, longer amortization periods might help. *""~43 a, 6! RENOVATED FOR YOL GOLDEN MFEADOW BRONTE DETACHED e at 8.50% This issue NICOLE BOONE* 338â€"2201 pager ailso features ures a comâ€" inadian and > JUNE BENNETT* 338â€"2201 pager or 845â€"2340 TE HAVE IT ALLIN o pegerteei ment, FP, garage & aited kit. Backs onto nspace. Ravine lot on private court including separate living and dining room, main floor family room with fireplace, greenhouse kitchen, 4 bedrooms, 3 bathrooms, plus many extras included in the asking price of $379,000. POWER OF SALE A REFAL BEAUTY SHOWS WELL! )( Please call FRED SCHAFER at 842â€"1630 or (Res.) 842â€"1635 1() () ell mainta central In ar H H t nouse T a( wnn 2 2/ 2 NEW LISTING INISN€ it l I IAN WYKES* CONNIE PIKE** Bus. 847â€"3030, Res. 827â€"9033 t 338â€"2201 or 844â€"9859 on pager/car phone MONEY CONSC1OUS 35,000 Save up to $15,000 NICOLE BOONE* 338â€"2201 pager "\A?! ill h MARILYN WYKES* up to Id 1st alled t mortga Call f%r © M