Can you afford a home in these cities? – Ask a Vancouver Mortgage Broker

Housing affordability is a national disaster that begs further investigation. The average national resale home price in May: $416,584. The annual gross income needed to afford that price based on a 5-per-cent down payment and a five-year mortgage: $89,363. The estimated median family employment income: $68,692. In that $20,671 shortfall is the considerably, but not […]

Even economists say they continue to be surprised by Canada’s housing market – Consult with a Vancouver Mortgage Broker

Record low interest rates have have forced Toronto-Dominion Bank to boost its forecast for the Canadian housing sector. 5 questions to help you decide whether to rent or buy a home Economist Diana Petramala said in an economic report that TD’s forecast in January was banking on an increase in interest rates that has not […]

‘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 […]

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 […]

Young urban condo buyers: Why not rent instead? – Consult with a Vancouver Mortgage Broker

Question for all the young adults buying condos these days: What are you thinking? Rent that little box in the sky and save your money for a house later on. Don’t buy something you’re going to grow out of in a few years. “When you run the numbers, renting is probably a bit cheaper,” said […]

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 […]

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