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Tuesday, February 20th, 2024

RBC: Toronto and Vancouver housing affordability still at high-stress levels

RBC: Toronto and Vancouver housing affordability still at high-stress levels The fourth quarter of 2016 saw Canadian housing costs remain at overheated levels despite the imposition of various federal and provincial measures to address the prevalent issue of home affordability, according to a fresh report released by RBC Economics Research last week. In the latest […]

Housing starts miss expectations as condo construction cools

OTTAWA — Canada Mortgage and Housing Corp. says the pace of housing starts was down in October, compared with September, as the rate of new multiple-unit homes starting construction, including condominiums, slowed. The agency estimates the standalone monthly seasonally adjusted annual rate was 183,604 units in October, down from 197,355 the previous month. Economists had […]

Could targeted land transfer taxes cool Canada’s hottest markets?

Ontario’s real estate association has launched an ad campaign to explain why they believe land transfer taxes hurt the economy. But in a hot housing market, could the tax be used to cool particular regions, such as Toronto and Vancouver? Officials in Ottawa have made it clear they see no need to cool the market […]

While Toronto’s housing boom rolls on, some of the housing itself is falling apart

While Toronto’s housing boom rolls on, some of the housing itself is falling apart TORONTO — Toronto has more than 100,000 units under construction as developers and investors seek to cash in on condo prices that are up 25.7% in the city over the past five years. The trouble is, many buildings are so poorly […]

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 […]

Canada building permits spike 13.8% in May – Ask a Vancouver Mortgage Broker

OTTAWA — Statistics Canada says municipalities issued building permits worth $6.9 billion in May, up 13.8% from April. The agency says the increase in May resulted primarily from higher construction intentions for commercial buildings in Ontario and Manitoba, as well as multi-family dwellings in British Columbia. It says the total value of permits has been […]

Credit unions: A cheaper, under-the-radar mortgage option – Ask a Vancouver Mortgage Broker

When you last shopped for a mortgage, did you consult with a credit union? If you’re like more than four out of five recent home buyers, you didn’t. Most mortgage shoppers overlook credit unions (CUs) because they think the rates aren’t good enough, or CUs aren’t convenient enough, or that they’ll save more by consolidating banking at […]

‘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 […]

A Threat to Private Financing – Ask a Vancouver Mortgage Broker

A Threat to Private Financing Wayne Strandlund, Special to CMT Borrower choice and the success of mortgage brokers is tied to the availability of a wide variety of mortgage funds. Apart from conventional insured and uninsured mortgages, there are Alt-A and B, 1st and 2nd mortgages available through the private mortgage market. For years, Mortgage […]

Six things to know about real estate deposits – Consult with a Vancouver Mortgage Broker

When you make an offer on a house you have to put down a deposit. Here are some things to keep in mind. By: Mark Weisleder Real Estate, Published on Fri May 16 2014 Here are some answers to common questions about deposits when you are buying a house. When must a deposit be paid? In Ontario, the […]

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