Canada’s million-dollar housing markets: Look out Vancouver, Toronto’s moving in – Ask a Vancouver Mortgage Broker

Toronto is on the verge of becoming the second Canadian city where the average price of a detached home hits the $1-million mark. “We went over that mark a few years ago in Vancouver and now we are going to hit it in Toronto. It’s not inexpensive to own a house in the city of […]

Homebuilding rebounds quicker than expected with 35% jump in condos and apartments – Consult with a Vancouver Mortgage Broker

TORONTO — New home construction in Canada picked up in April, shaking off the effects of this year’s harsh winter, though economists still expect activity to cool gradually in 2014. The seasonally adjusted annualized rate of housing starts rose to 194,809 last month from 156,592 units in March, data from the Canada Mortgage and Housing […]

Canada’s next housing bubble: real estate agents – Consult with a Vancouver Mortgage Broker

The housing boom has not only resulted in record real estate prices, it has spawned an unprecedented number of realtors. The number of people selling real estate reached 108,706 during the first quarter of the year, according to the Canadian Real Estate Association. To put it another way, that’s one realtor for every 245 Canadians […]

How badly would you be hurt in a housing market price correction? – Ask a Vancouver Mortgage Broker

A question for everyone who thinks houses are an investment: How much would a market decline hurt you? Help yourself be a smarter homeowner by using The Globe and Mail’s Housing Price Correction Calculator to find out. Housing bulls, don’t self-combust. Our calculator shows the result of both price gains and losses over the next five years. […]

Can this young Toronto family really afford a house? – Consult with a Vancouver Mortgage Broker

ROB CARRICK– The Globe and Mail I really want to tell this couple it’s okay to buy a house. Let’s call them Grace and Jim, both 35 years old. They live at Jim’s parents’ place in Toronto with two kids, aged 2 and five months, and they have differing views on buying a home. Jim, a […]

Toronto home prices jump 10% in April from a year ago as single-family home listings in short supply – Consult with a Vancouver Mortgage Broker

Garry Marr | Prices in Canada’s largest housing market show no sign of letting up, driven by a strong demand for single-family homes in Toronto’s core. The Toronto Real Estate Board said Tuesday that the average sale price of a home in the Greater Toronto Area climbed another 10.1% from a year ago and reached $524,868. […]

Canadian real estate and housing boom may be ending, Scotiabank warns – Consult with a Vancouver Mortgage Broker

Canadian real estate and housing boom may be ending, Scotiabank warns ‘More subdued trajectory’ over coming years could impact jobs, renovation industry and consumer confidence, bank report warns. By: Susan Pigg Business Reporter, Published on Wed Apr 16 2014   Boom times are over for Canada’s housing sector and the impact of “a more subdued trajectory” will be […]

Canada housing correction could trigger another recession, BMO report says – Consult with a Vancouver Mortgage Broker

OTTAWA — A sudden and sharp correction in the housing market could have a devastating impact on the Canadian economy overall, enough to trigger another recession, says a new Bank of Montreal report. Bank of Canada holds rate at 1%, cuts growth forecast for 2014 The Bank of Canada says it is keeping interest rates […]

Cash-back mortages: A deal from your bank that regulators are not keen on – Ask a Vancouver Mortgage Broker

It’s the last refuge of those who don’t have money, but still want to own a home. You want some of these record low rates on the market but you’re locked into a mortgage. Just break it, right? Not so fast, there’s a key question you need to ask before you commit to break a […]

No collapse in Canada’s condo market, but not much growth either – Consult with a Vancouver Mortgage Broker

The report is sponsored by Canada’s largest private mortgage default insurer but it shows a relatively flat condo market in Canada’s eight largest market for high rises. Leaving the city (and the big mortgage) behind Many couples, stunned by the value of their homes in Canadian urban centers like Toronto, Calgary and Vancouver, are pondering […]

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