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Wednesday, July 13th, 2016

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 […]

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 […]

Freedom 58? How Canadians are shaving thousands off the cost of their mortgage

TORONTO — 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. How this man plans to be mortgage free by age 31 This 29-year-old pension analyst is $130,000 away from paying off his $425,000 home in Toronto, without money […]

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 […]

CPP investment arm has best year since 2004 – Consult with a Vancouver Mortgage Broker

CPP investment arm has best year since 2004 Fund which manages the retirement savings of 18 million people in every province except Quebec had its best performance since 2004 as private-equity returns surged. The Canada Pension Plan Investment Board has invested in office towers being built in the Barangaroo area of Sydney, Australia. The development […]

Laurentian Closes Mobile Rep Operation – Ask a Vancouver Mortgage Broker

Laurentian Closes Mobile Rep Operation Some banks, like CIBC, have been on a hiring spree when it comes to mortgage reps. Not Laurentian Bank. It’s going the other way. “We have announced [Wednesday] that Laurentian Bank had decided to no longer offer residential mortgage loans through an internal team of mobile advisors,” said a spokesperson. […]

More Canadians in debt, making lower monthly payments poll finds – Consult with a Vancouver Mortgage Broker

By: Linda Nguyen The Canadian Press A new poll suggests that more Canadians are in debt this year and taking longer to settle their accounts. The study released Wednesday by the Bank of Montreal (TSX:BMO) found that 83 per cent of Canadians surveyed admit to having some form of debt, an increase from 74 per cent a […]

Despite Challenges, Canada’s Generation Y Still Plan to Own Homes, According to Royal LePage National Survey

New mortgage regulations and current home prices seen as obstacles by Generation Y TORONTO, ON, March 20, 2013 – Although there are genuine hurdles to owning a home for Canadians, a new Royal LePage Real Estate survey shows that Generation Y (born between 1980 and 1994) and Baby Boomers (born between 1947 and 1966) still strongly desire […]

Let’s put real estate overvalution in perspective – Consult with a Vancouver Mortgage Broker

Let’s put real estate overvalution in perspective Canadian real estate is overvalued by 20%. This doesn’t mean your home is worth 20% less. If prices do drop, it will be closer to 10%, and in certain parts of the country it’s already happening. More than a few media headlines are focusing on Canada’s overvalued real […]

How Will the Baby Boomers Affect the Future Housing Market? – From your Vancouver Mortgage Broker

How Will the Baby Boomers Affect the Future Housing Market? – From your Vancouver Mortgage Broker The baby boomers are the largest single generation alive today. They are aging but they are still very affluent. Many forecasters believed that they would eventually leave their larger homes and that this might result in the creation of […]

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