When discussing real estate markets, overvaluation, and plenty of other related things, it’s common to report on major cities like Toronto and Vancouver, however, not everyone lives in these cities. Many readers want to hear about their own places of residence and how long it takes to sell a house in their area. They want...
The overvaluation in the Toronto and Victoria real estate markets have dropped significantly, however, according to the Canada Mortgage and Housing Corporation (CMHC), the vulnerable rating that was previously given to Hamilton and Vancouver remain. The CMHC came out with a statement on Thursday, expressing their concern in regards to the vulnerability, and stated that...
According to the Bank of Canada, the mortgage rate growth among residential buyers rose nearly 3 percent in just one year. As of December, the rise results in a nearly $1.55 trillion, which can and is deemed to be among the slowest paces in nearly 17 years. Due to this, Canada’s big banks have been...
It’s not often that a change in rates makes a company skyrocket to headlines of the next morning paper, but when it does, those companies are most likely among the following. CIBC, RBC, TD, BMO, the National Bank of Canada, and Scotia bank. Yes, the big six. The banks that essentially run the real estate...
According to Canada Mortgage and Housing Corporation, the Canadian real estate market has continued to ease up in terms of its extremely high value. However, major cities such as Toronto, Mississauga and Victoria are deemed to be in an extremely vulnerable state. These reports are all but familiar, for this is the tenth subsequent quarter...
Canadian real estate has been on the rise for the past few years, but as of 2018, that statement can no longer be deemed correct. Sales among Canadian real estate have dramatically slowed, with a notable drop of 11%. According to the Canadian Real Estate Association, this drop is larger than any we’ve seen for...
Over the past year, Canadians have maintained superiority in regards to real estate growth among all G7 countries. According to statistics provided by the US Federal Reserve, the Canadian real estate market had surpassed all other G7 countries in respect to just how high the price growth of real estate had become. As of the...
The most expensive housing markets in Canada and Toronto experienced their poorest annual sales in at least ten years. What’s to blame? Stricter mortgages rules and a spike in borrowing costs. Toronto’s Real Estate Board (TREB) reported 77,426 total transactions, a drop in 16% which further led to the average price falling to $787,300. Ontario’s...
In general, 2017 is a good year for homebuyers to get a mortgage for their home purchases. However, there will be inevitable movements in interest rates because the Bank of Canada is finally ending almost seven years of frozen rates. It can be recalled that the Central Bank decided to stagnate interest rates in the...
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