CMHC admits ‘data gap’ in foreign ownership of Canadian real estate

The president of Canada Mortgage and Housing Corp. acknowledges there may be a “data gap” when it comes to the degree of foreign ownership in the marketplace, as debate swirls over whether overseas buyers are inflating house prices in markets like Vancouver and Toronto. Tracking foreign buyers in Canada’s housing boom: Can we do it? […]

Canadian home sales fall for first time in nine months

EOTTAWA — Sales of existing homes cooled in September as they fell 1.4% on a month-over-month basis, the first monthly decline since January, the Canadian Real Estate Association said Wednesday. The association said sales through its Multiple Listings Service were down in about 60% of all local housing markets last month. CREA president Beth Crosbie […]

The new question for Canadian Snowbirds heading south: to buy or rent?

When they got tired of trying to find the right rental property, Miriam and Bryan Gardner decided it was time to buy. It sounds like the typical explanation you might hear from a Canadian buyer in today’s red hot real estate market but in this case it’s Florida where tight rental markets have made finding […]

Say Goodbye To Forward Guidance From The Bank Of Canada

Bank of Canada Governor Stephen Poloz is signalling that it’s time to take off the training wheels; that the central bank will no longer be there to hold the market’s hand. In more technical terms, the governor announced that the Bank would no longer be providing forward guidance – essentially, a paragraph, sentence, or phrase […]

Housing still cheaper in popular U.S. snowbird states than 2006 peak levels, new report shows

TORONTO – Housing prices in popular U.S. snowbird destinations are rising but are still below peak levels seen in 2006, says a new report. The outlook by BMO Financial Group says overall, housing prices in the U.S. have increased by 20% in the last two years, but are only about halfway to the peak levels […]

No matter what statistics show, Canada’s housing boom is about to end, experts say

It might be hard to convince some Canadians the end of the housing boom is near based on new statistics from the Canadian Real Estate Association which show prices still rising.   Marriages, of course, get into trouble for all kinds of reasons, and rarely are they simple ones, but divorce lawyers and those in […]

Spending on renovations outpaces new home construction

More money was spent renovating homes in Canada than building new ones during the 12 months to the end of June, according to data compiled by the Bank of Montreal. “In the four quarters through [the second quarter], renovation activity outpaced investment in new residential construction $48.4-billion to $46.3-billion, as the latter has rolled over […]

Tips For First Time Home Buyers- Ask a Vancouver Mortgage broker

Buying a home can have many advantages. Owning your own home instead of renting can provide security to you and your family. With your new home, you have the freedom to renovate as well as not have a landlord. Purchasing a home is a great investment for your future. Before you take the plunge and […]

Canadians’ debt payoffs rise as mortgage principal payments targeted

Contrary to all the hype about consumer debt levels, Canadians are actually paying off their debts at a faster rate than the Bank of Canada estimates, says Canadian Imperial Bank of Commerce economist Benjamin Tal. Indeed, he says consumers are being quite responsible in the face of extremely tempting low interest rates. True, they are […]

Canadian home sales fall for first time in nine months

OTTAWA — Sales of existing homes cooled in September as they fell 1.4% on a month-over-month basis, the first monthly decline since January, the Canadian Real Estate Association said Wednesday. The association said sales through its Multiple Listings Service were down in about 60% of all local housing markets last month. CREA president Beth Crosbie […]

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