Canadian house prices hit record high in January as Vancouver market surge – Ask a vancouver Mortgage broker

Andrea Hopkins, Reuters  TORONTO — Canadian home prices rose to a record high in January as Vancouver prices surged, the Teranet-National Bank Composite House Price Index showed on Wednesday, even as other housing indicators have shown a cooling market. Buying a house? Here’s how to get a big tax refund The $25,000 you can take […]

Canada home sales fell 3.3% in January, CREA says – Consult with a Vancouver Mortgage Broker

Canadian existing home sales fell for a fifth month in January on fewer transactions in Toronto and Vancouver, adding to evidence the nation’s housing market is cooling. Sales declined 3.3% in January from the previous month, the Canadian Real Estate Association said today in a statement. The average price of a home sold in January […]

Three pitfalls to consider before helping your kids buy a home – Consult with a Vancouver Mortgage Broker

ROB CARRICK– The Globe and Mail In an increasingly unaffordable housing market, it’s natural for parents to want to help their kids buy a home. Talk to a real estate agent or mortgage broker and you’re bound to hear stories about parental financial help. “The bottom line is that when a first-time home buyer buys a […]

Demand for luxury homes still strong in Canada, real estate company says – Ask a Vancouver Mortgage Broker

The luxury end of the Canadian housing market shows no signs of slowing down, at least according to one real estate company. Re/Max surveyed 16 Canadian markets and found sales of what it calls “upper end homes” higher in 75% of those markets. Vancouver, the priciest market in the country, saw an increase of 36% […]

Canada’s house prices still rising but sales stall for third straight month – Ask a Vancouver Mortgage Broker

TORONTO — The latest real estate results look impressive for seven-figure homes but the story is not as dramatic once you factor out Canada’s two most expensive cities and look at three months of falling sales. Prices across the country rose 10.4% in December from a year ago to an average of $389,119, according to […]

What you need to know before, and after, buying a condo – Ask a Vancouver Mortgage Broker

What you need to know before, and after, buying a condo ROB CARRICK–  The Globe and Mail Your life as a homeowner will likely include some time in a condo. Condos suit young adults, and retirees who want to downsize. As houses rise in price, more people in between those extremes may opt for condos. […]

Former Goldman Sachs investment banker appointed to head CMHC

Canada named Evan Siddall, a former official with Goldman Sachs Group Inc., as chief executive officer of the country’s government-owned housing agency. Siddall, who has been a special adviser to the Bank of Canada Governor for the past two years, will serve a five-year term at Canada Mortgage & Housing Corp. starting Jan. 1, the […]

Re/Max forecasts ‘exceptionally healthy’ real estate market in 2014

MISSISSAUGA, Ont. — Canada can expect an “exceptionally healthy” housing market in 2014 thanks to improvements in the overall economy that helped produce a surge in the latter half of this year, a leading real estate group said Wednesday. Can’t afford Canadian property? Downsize your home, upsize your storage locker With the condo market in […]

Drop in home building signals Canadian market stabilizing- As a Vancouver Mortgage Broker

TORONTO — New homebuilding in Canada slowed slightly in November, coming in below economists’ expectations and suggesting some stabilization for the country’s robust housing market, data released on Monday showed. The seasonally adjusted annualized rate of housing starts was 192,235 units last month from a downwardly revised 198,161 in October, the Canada Mortgage and Housing […]

Five things to do if you are over-extended on your mortgage – Ask a Vancouver Mortgage Broker

Mortgage default may be rare in this country, but nearly 9% of indebted households need 40% or more of their gross income to pay their debt service charges, says the Bank of Canada Financial System Review. If you can see problems coming, then you can take action to avoid foreclosure, which happens when lenders run […]

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