Canada housing starts cool in August, seen slowing further

TORONTO — Canadian housing starts cooled more than expected in August, while the previous month was also revised slightly lower, data showed on Tuesday, setting the stage for what is widely expected to be a slowing housing market as 2014 draws to a close. A report from the Canada Mortgage and Housing Corp showed the […]

Canadians expect to be mortgage-free later than previously thought

A new survey says Canadians, on average, expect to be mortgage-free by age 58, one year later than in a similar poll a year ago. But the survey, conducted for CIBC by Angus Reid, found some big discrepancies across the country. For example, homeowners in British Columbia thought they wouldn’t be able to pay off […]

Paying off your mortgage faster can pay huge dividends

Paying down your mortgage faster. It’s one of those boilerplate suggestions that financial advisers love to make to their clients. After all, throwing extra money at the biggest debt most Canadians have can result in big interest savings and being mortgage-free years sooner. So why isn’t everyone doing that? According to a spring analysis by […]

Toronto home prices still growing, with more gains to come

A lukewarm summer didn’t cool off Toronto’s red hot housing market which remains in sellers’ territory, according to the city’s realtors. The average price of a home in the country’s largest market continued to rise, reaching $546,303 for the region — an 8.9% increase from a year ago. In the much sought-after detached home segment […]

Is it time to downsize your home, sweet home?

The Globe and Mail Downsize Your Home Worksheet is designed to help people think through some of the financial considerations involved in selling the family home and moving to something smaller. Sure, there are lifestyle factors in deciding when to sell. But there’s also the state of the real estate market to consider. Should you […]

Canada house prices expected to rise further, fuelling fears of meltdown

The risk of a property market crash in Canada has not ebbed, according to an increasing number of analysts polled by Reuters who said chances of a steep fall in prices have increased in the past year. Still, the survey medians showed house prices will likely rise more than earlier expected at least until 2017, […]

Bank of Canada holds key interest rate at 1%

Benchmark rate has stayed the same for 4 years Canada‘s central bank held its key interest rate at one per cent Wednesday, the same level is has been at for four years. In its latest policy decision, the Bank of Canada also kept its “neutral” stance, which means that governor Stephen Poloz has no plans […]

Analyzing CMHC Borrowers

Analyzing CMHC Borrowers POSTED IN: MORTGAGE INDUSTRY REPORTS AUGUST 30, 2014 ROBERT MCLISTER 2 COMMENTS What does an insured mortgage borrower look like? According to CMHCdata from last quarter, residential borrowers who paid for mortgage default insurance had: 8% equity on average (92% loan-to-value) Less than 10% down in almost 7 out of 10 cases 25-year amortizations, on […]

Tracking foreign buyers in Canada’s housing boom: Can we do it? Should we even care?

A third of people buying homes in Canada may be foreigners, says one real estate company. A leading economist says the number isn’t even 5%. The country’s housing agency says it has no idea what the actual number is. CMHC leaves out question of foreign condo investors, but economist says it’s only 5% A survey […]

Single-family homes for under $400,000 drying up in Calgary

Move over Toronto and Vancouver, Calgary’s condominium sector is red hot. The oilpatch set a new record for condominium resale activity for the month of August with a 14% increase in sales from a year ago. Townhouse sales were even stronger with a 20% jump from a year ago. Meanwhile, single-family home sales declined during […]

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