‘HGTV effect’ pushes home renovation spending to record $63-billion – Consult with a Vancouver Mortgage Broker

TORONTO • It could be just the impact of all those home-renovation television programs, but Canadians are fixing up their properties like never before, according to a new report. 5 questions to help you decide whether to rent or buy a home While there’s no universal ‘right’ answer, start your decision process by asking yourself […]

Facing limited supply in Canada, home builder buys chunk of U.S. land – Consult with a Vancouver Mortgage Broker

TARA PERKINS – REAL ESTATE REPORTER- The Globe and Mail The Globe’s Real Estate Beat offers news and analysis on the Canadian housing market from real estate reporter Tara Perkins. Read more on The Globe’s housing page and follow Tara on Twitter @TaraPerkins. Canada’s largest developer of new houses has bought its biggest piece of land ever – and it’s […]

CMHC to return to lower-risk roots – Consult with a Vancouver Mortgage Broker

BOYD ERMAN AND TARA PERKINSThe Globe and Mail The head of Canada Mortgage and Housing Corp. is shifting the priority of the mortgage insurer to helping Canadians buy homes they need, not the bigger, pricier homes they might want. Chief executive officer Evan Siddall said in an exclusive interview that his first six months on the job […]

Canadian home prices rise a modest 0.8% in May, typically one of the strongest months for sales: Consult with a Vancouver Mortgage Broker

TORONTO — Canadian home prices rose in May but the pace of 12-month home price appreciation decelerated slightly, the Teranet-National Bank Composite House Price Index showed on Thursday. Why Canada’s housing boom could be in for a big echo A new report suggests housing market has stronger legs than thought because echo boomers, who now […]

Bank of Canada warns Toronto’s condo market a ‘pocket of vulnerability’ in Canada’s housing sector – Ask a Vancouver Mortgage Broker

Pamela Heaven |  The Bank of Canada singled out Toronto’s condo market in its report on risks facing the country’s economy and financial system Thursday. The central bank said in its Financial System Review that though Canada’s housing market was broadly in line with demand, the level of condo building was significantly above historical averages. “While some of […]

Monster May for housing sales doesn’t mean the market won’t slow – Consult with a Vancouver Mortgage Broker

May was a phenomenal month for existing homes sales across the country but the jump in activity might say more about the harsh winter than the state of the market. Calgary’s housing market making a dramatic comeback The Calgary housing market is so hot that an economist reported Tuesday that only 15 condominiums in the […]

Bank of Canada warns Toronto’s condo market a ‘pocket of vulnerability’ in Canada’s housing sector – Ask a Vancouver Mortgage Broker

Pamela Heaven The Bank of Canada singled out Toronto’s condo market in its report on risks facing the country’s economy and financial system Thursday. The central bank said in its Financial System Review that though Canada’s housing market was broadly in line with demand, the level of condo building was significantly above historical averages. “While some of […]

Bad weather can’t put a dent in Canadian housing sales – Ask a Vancouver Mortgage Broker

Spring came late for the Canadian residential real estate market but despite the delay the organization that represents the country’s realtors is still predicting a 1.2% jump in activity for 2014. Calgary’s housing market making a dramatic comeback Te Calgary housing market is so hot that an economist reported Tuesday that only 15 condominiums in […]

Rising real estate prices and low interest rates keep Canadian households upbeat – Consult with a Vancouver Mortgage Broker

Bloomberg News | May 20, 2014 | Last Updated: May 20 12:01 PM ET The share of Canadians who are predicting higher home prices in their neighborhood remained above 40% for a fifth week in the latest weekly polling by Bloomberg and Nanos Research. That’s kept consumer confidence levels at near the highest in four years, the data show. […]

Are shorter mortgage amortizations always better? No – Ask a Vancouver Mortgage Broker

ROBERT MCLISTER- Special to The Globe and Mail For years we’ve been taught that shorter mortgage amortizations are better. Most people in the mortgage business don’t challenge this premise and certain lenders preach it as gospel. Consider this recent statement by a bank spokesperson: “Choosing a shorter amortization is the most responsible approach to home financing. […]

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