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 […]

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 […]

Mortgage rate drop means housing more affordable RBC study finds Vancouver and Toronto still the least affordable

Housing across Canada became more affordable in the second quarter of this year because mortgage rates dropped, according to a report from RBC. Even with prices moving higher, homes became more affordable in nearly every market across Canada, according to RBC’s Housing Trends and Affordability Report. The least affordable markets were Toronto and Vancouver, where […]

Is inflating income, lying on credit applications OK? – Consult with a Vancouver Mortgage Broker

Ten per cent of Canadians surveyed say it’s okay to inflate your income when applying for a mortage, according to a new survey by credit reporting agency Equifax. DREAMSTIME By: Susan Pigg Business Reporter, Published on Mon Aug 11 2014 Ten per cent of Canadians surveyed say it’s okay to inflate your income when applying for a mortgage, […]

Average Canadian house price up 5% to $401,585, CREA says

With Toronto, Vancouver out of equation, average home worth $327,988 The average price of a Canadian home was $401,585 in July, a five per cent rise compared to last year. The Canadian Real Estate Association repeated its claim that booming sales in the large, pricey markets of Vancouver and Toronto are skewing the national average higher. If […]

Housing sales in July highest since early 2010

Sales of existing homes rose for the sixth month in a row in July, hitting their highest level since March 2010, as some of the country’s softer real estate markets sprung to life. Cities such as Montreal, Ottawa, Victoria, Winnipeg and Halifax received a sales boost from June on a seasonally adjusted basis, even as […]

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