No immediate action from Ottawa to cool Canada’s housing market, says Stephen Harper

MISSISSAUGA, Ont. — Prime Minister Stephen Harper says the federal government is keeping a careful watch on borrowing and lending tied to the country’s hot housing market. But Harper says Ottawa has no immediate plans to take action to cool it down, like it has in the past. Responding to a question in Mississauga, Ont., […]

Spring mortgage market kicks off with a new low rate from Bank of Montreal — but you can do better

Call it March Madness for the mortgage market, as banks begin a full-court press to lure in homebuyers as Canada heads into another vibrant spring for the country’s hottest housing spots. That $1 million Toronto home just got even pricier Detached homes in Toronto have have continued their upward price trend halfway through March, according […]

Canada home prices keep rising despite slowdown in Prairies

Housing sales across the country continued to raise along with prices despite a slowdown in parts of western Canada, the Canadian Real Estate Association said Friday The average price of a home sold across the country rose to $431,812 in February, a 6.3% increase from a year ago, the Ottawa-based group, which represents more than […]

Get ready for a new round of speculation of a Canadian housing crash

The Canadian housing market’s continued strength was on display again Friday, but news that prices are rising on a national level is sure to drive a new round of crash speculation. The Canadian Real Estate Association said prices were up 6.3% nationally from a year ago to a record $431,812 in February. Even using the […]

Spring comes early to hot housing markets in Toronto, Vancouver, realtors say

TORONTO — Rock-bottom interest rates, a scarcity of supply and growing demand from millennials and wealthy immigrants have fuelled a strong start to the spring real estate season in Toronto and Vancouver. “Spring has come early for both Toronto and Vancouver,” said Sal Guatieri, a senior economist at BMO Capital Markets. Both cities experienced growth […]

The real cost of a $1 million home: Toronto buyers resort to sub-prime loans as prices soar

Just as in Vancouver, Toronto buyers are now scrambling to come up with the 20% downpayment or $200,000 on a $1 million home, if they want to borrow from a major bank. Twitter Google+ LinkedIn Email Typo? More Vancouver has already passed this high water mark, but now it’s Toronto’s turn to Experience the $1 […]

Vancouver home affordability improves on wage gains, but prices continue to climb

Rising Ontario prices created a drag on the national figure for home-ownership affordability, according to a report from the Royal Bank of Canada, which says strong data from Vancouver could impact those numbers even more. RBC said Tuesday it became more expensive to buy a home for a second straight quarter as 2014 closed, news […]