Refinance Demand Drives US Mortgage Applications Higher: MBA

Applications for U.S. home mortgages rose last week, driven by improved refinance demand as interest rates tumbled, an industry group said on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 4.5 percent in the week ended April 5.

Read more: http://www.cnbc.com/id/100630052

Homes selling faster as buyers outpace supply

Homes sold faster last month than in any February since 2007 as eager buyers met a tight supply of homes for sale, industry figures show.

Homes were on the market for a median of 98 days last month, down from 123 days in February 2011, according to Realtor.com. That means half the homes listed for sale in February were on the market for less than 98 days and half for more than that.

Read more: http://tinyurl.com/bn9fq8b

Why the High Oil Prices if Supplies Really are Abundant?

It is a slick piece of public relations to convince people to disregard what is right in front of them and believe the opposite. And yet, that is what the oil industry has achieved with an oh-so obviously coordinated campaign to tell the public and policymakers that there is no need to be concerned about future oil supplies.

Read more: http://tinyurl.com/bu4vdmo

High demand means world needs all of Canada’s oil: IEA

Global demand for crude is growing so strongly that the world needs “every single drop of Canadian oil,” the International Energy Agency’s chief economist said on Monday, playing down fears that growing U.S. production could hit Canadian exports.

Fatih Birol said that even if U.S. output rises as much as the agency expects, the country would still need to import four million barrels a day and that Canada is an obvious supplier.

Read more:  http://tinyurl.com/c2sfpml  

A concrete decision

Tom Kentz says his company’s inability to keep pace with demand is costing it millions of dollars in sales. So it’s moving aggressively to plug the leak.

Precision Precast Ltd., which currently operates in Lacombe as Precision Projects Ltd., plans to build a $15-million plant in Ponoka County.  READ

Calgary and Edmonton displace Toronto and Vancouver as top markets in real estate

CALGARY — Calgary and Edmonton have displaced Toronto and Vancouver as the top-ranked cities for real estate, according to the Emerging Trends in Real Estate 2013 report released Tuesday.

The report, by PwC and the Urban Land Institute, said the Canadian real estate market is expected to remain steady with “modestly good” investment and development prospects across most property sectors for 2013, reflecting expectations of solid supply and demand.

Read more: http://tinyurl.com/bclauur