First-time homebuyers are feeling the weight of Canada’s housing boom

Many times over the last few years, John Norquay has been stricken with pangs of anxiety over not being a homeowner. Should you rent or own your home? Bank of CanadaPeople say that when you grow up, you buy a home. But owning doesn’t make sense for everyone and in some cases, it might be […]

Joe Oliver says Canada won’t make major changes to CMHC, housing finance

Canada won’t make any sudden changes to the country’s system of housing finance, even as the government looks at ways to reduce its role in the market, Finance Minister Joe Oliver said. Joe Oliver says G20 sees ‘significant economic challenges ahead’ Canada’s finance minister is urging European countries to consider taking quick action to repair […]

Breaking Down Debt: How 4 Different Loans Affect Your Mortgage-Worthiness

Want to get a new mortgage? Then, your credit score is a really big deal — it can make or break your mortgage payments, and ultimately determine whether or not you get the house you want. But before we talk about credit scores, let’s talk about the debt that affects them. There are two types […]

Mortgage Broker Practices Score Well on Regulator Suitability Report

TORONTO, Sept. 8, 2014 /CNW/ – A report from the Mortgage Broker Regulators’ Council of Canada (MBRCC) should help bolster the confidence borrowers have in the services being provided by mortgage brokers in Canada. The report indicates that most mortgage brokers work to direct their residential clients toward suitable mortgages. However, the report also notes that […]

Here’s Why Mortgage Credit Growth In Canada Has Been Slowing

The latest reading from Statistics Canada shows that Canadian household indebtedness increased in the second quarter, with the ratio of household credit market debt to disposable income rising from 163.1 to 163.6 percent. This increase was primarily attributable to weak income gains over the course of the quarter, as mortgage debt – which makes up […]

Renewing your mortgage? Here’s why you should pick up the phone

It is mortgage renewal time in my house. Freedom 58? How Canadians are shaving thousands off the cost of their mortgage More than half of Canadians in a new survey are putting extra effort into repaying their mortgages — saving tens of thousands in interest payments. Find out more I am one of those debt […]

Chinese developer Greenland makes its first purchase in Canada — a Toronto condo project

Greenland Holding Group Co., a Shanghai-based developer owned by the Chinese government, said it bought King Blue, a two-tower condominium project in Toronto, its first purchase in Canada. Greenland Holding bought the planned development, which includes 44 and 48-story towers, from closely held Easton’s Group of Hotels Inc. and The Remington Group Inc. for at […]

Canada building permits soar to record on Toronto, Vancouver condos

Canadian building permits jumped to a surprise record in July, led by Toronto and Vancouver condominiums and apartments, at a time when the central bank says high home prices and indebted consumers remain a key risk to the economy. The value of municipal permits for multi-unit housing jumped 43.4% to $2.54 billion, Statistics Canada said […]

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 […]

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