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Leading Then, Falling Now, Canadian Real Estate ’s Downward Plung
Posted January 24, 2019
Posted January 24, 2019
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...
New Mortgage Rules Lead to a Slow 2018 for Vancouver and Toronto
Posted January 17, 2019
Posted January 17, 2019
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...
Reverse Mortgage
Posted January 07, 2019
Posted January 07, 2019
Reverse mortgage is best catered to house rich, cash poor seniors who need to live with some comfort for the rest of their lives. The process of a reverse mortgage sees borrowers apply for loans against the equity of their home to acquire either one lump sum loan or regular installment payments. In a way,...
Forecasts Foreboding for the 2019 Housing Market
Posted January 03, 2019
Posted January 03, 2019
After a tumultuous 2018 for the mortgage and housing market, projections for 2019 housing market are filled with just as much strife. A wealth of recent forecasts shows a landscape hindered by moderated home sales, plummeting home prices, and poor economic growth. As a result, interest rates are expected to flatline throughout 2019. Below is...
The 2019 Housing Market On the Up-and-Up for Canada
Posted December 20, 2018
Posted December 20, 2018
The year of 2018 has been a little slow for Canadian housing markets. However, the new year for the 2019 housing market could come with its own set of curve balls. Throughout the past 12 months, the market was impacted most via the new mortgage stress tests as home buyers in need of mortgages were...
Record Lows in Canadian Mortgage Credit Growth
Posted December 17, 2018
Posted December 17, 2018
Reports from the Bank of Canada (BoC) have shown the consistent drop in mortgage credit growth continue in October—meaning Canadians are being far more cautious when it comes to the real estate market. Such meager growth has only been matched by two months throughout the past three decades and will sink even lower. Canadian Mortgage...
Tough Mortgage Rules Affecting Home Builders and Young Home Buying Market
Posted December 12, 2018
Posted December 12, 2018
Home builders are displaying growing concerns over Canada’s cooling housing markets, as they plead with the federal government to ease up mortgage-lending restrictions and mortgage rules. The rigid mandates have helped garner the preferred soft landing and mortgage rates have risen sufficiently enough for the mortgage rules to subside—at least according to executives at Mattamy...
Canadian Housing Market Expected to Moderate
Posted December 07, 2018
Posted December 07, 2018
Canadian housing market should moderate during the next two years while the housing prices slow down and fall in line with economic fundamentals, according to Canada Mortgage and Housing Corporation. Housing starts and sales rates will respectively dwindle come 2019 and 2020, claims the national housing agency in its annual outlook. Single and multi-unit housing...
Central Bank Not Budging on 1.75% Key Interest Rate
Posted December 06, 2018
Posted December 06, 2018
While the Bank of Canada (BoC) fully assesses the full brunt of its most recent policy decisions and far lower oil prices, they explained on Wednesday their plan of maintaining the benchmark interest rate. The target for the overnight key interest rate has been 1.75% since it was elevated to such heights in October—an occurrence that’s...
