Blog by Micah Verceles
It’s a bad thing for Canada if housing prices keep rising.
Finance Minister Jim Flaherty met with CAAMP last week in Toronto. The Minister meets annually with stakeholders such as CAAMP and, as can be expected, housing and the mortgage market topped the agenda.
The Canadian housing and mortgage markets receive extensive attention by economists, analysts and the media. The purchase of a home, after all, is the largest financial commitment that an individual will make in his or her lifetime.
If you’re self-employed and about to apply for a mortgage, be prepared for some serious form-filling. Getting financing isn’t as easy as it used to be, say mortgage brokers — and for the 15% of Canadians who earn money for themselves without a steady employer’s salary, it’s harder still.
Data Release: National balance sheets remain relatively stable
- Canadian national net wealth advanced 3% in the third quarter, mostly driven by increased residential real estate gains and a better international net debt position.
- While net worth advanced for all sectors of the economy, both households and governments became more indebted, while the corporate sector remained the o ...
OTTAWA — The Canadian Real Estate Association raised its outlook Monday for homes sales this year as it reported a 11.1% jump in August sales compared with a year ago.
Sales of luxury homes will likely gain momentum in the fall, fuelled by demand from international investors, according to a new report from real estate sales and marketing company Sotheby’s International Realty Canada.
OSFI has held off on further tweaks to underwriting rules, but amid speculation that it may soon spring into action, one representative has assured MortgageBrokerNews.ca the public - including brokers - will be allowed their say.
“If we decide to revise Guideline B-20 we will undertake public consultations,” Annik Faucher of OSFI told MortgageBrokerNews.ca. “No decisions have yet been r ...
TORONTO — Sales of luxury homes will likely gain momentum in the fall, fuelled by demand from international investors, according a new report from real estate sales and marketing company Sotheby’s International Realty Canada.
We’re at one of those points in the economic cycle where mortgage rates get especially confusing.
On the one hand, we see the Bank of Canada confirming that it has no plans to raise short-term interest rates for several months (maybe several quarters). And on the other hand, we have bond traders pushing up long-term interest rates to two-year highs.
That's got many wondering:
a) whic ...
Owning a home in Canada became slightly less affordable in the second quarter of 2013, according to RBC Economics Research’s latest Housing Trends and Affordability Report.
Greater Vancouver home sales roared ahead 52 per cent last month, raising the prospect of a new phase of stability in Canada’s most expensive housing market.
Owners of the West Vancouver house once listed as Canada’s most expensive have dropped their asking price to $12.9 million from $37.9 million.
They also appear to have switched real estate agents in their bid to sell the fixer upper at 3810 Marine Drive.
The aging house on the half-acre of prime oceanfront real estate remains on the market seven months after the whopping price tag firs ...
Canada’s banking regulator has been gathering detailed mortgage information from financial institutions, in what could be a precursor to changes in the rules for home loans.
By understanding mortgage terms and what they mean in dollars and sense, you can save the most money and choose the term that is best suited to your specific needs.
The first consideration when comparing various mort ...
In just a few short months, long-term mortgage rates have burst higher by almost ¾ of a percentage point.
People naturally want to know if the hikes are sustainable, and how they’ll affect the overall housing market.
TD Economics weighed in on these points in a report last week. Here’s a quick overview of the implications TD foresees, and some observations of our own…
- Future Ra ...