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The 2019 Housing Market On the Up-and-Up for Canada
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...
Previously Soaring Ottawa Housing Market Comes Back Down to Earth in November
Posted December 19, 2018
The Ottawa Real Estate Board (OREB) says that there’s still quite a demand for Ottawa housing market  — despite the pace slowing slightly in November. At a grand total of 1,165, 5% less residential properties were sold in November compared to 1,232 homes that were sold in the same month last year. However, Ottawa housing...
2019 Will See Ottawa Home Prices Increase
Posted December 17, 2018
Royal LePage predicts a 2.5% median home sales price boost in Ottawa home prices , while fellow agency Re/Max projects a 4% increase in the nation’s capital as per each company’s respective home sale price reports. John Rogan, a broker in Ottawa with Royal LePage explained on the Rick Gibbons Show on 1310 NEWS that...
Record Lows in Canadian Mortgage Credit Growth
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...
Home Builders Hoping Tough Mortgage Rules Soften Up
Posted December 14, 2018
The cooling housing market is a direct result of tight mortgage restrictions. As such, Canadian home builders are pleading with the federal government to loosen its grip. Mattamy Homes Ltd. is North America’s largest closely held home builders and executives at the real estate behemoth believe the rules have accomplished the sought-for soft landing. The...
Tough Mortgage Rules Affecting Home Builders and Young Home Buying Market
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
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
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...
Expect Mortgage Liquidity from Central Banking in the Near Future
Posted December 05, 2018
Last week, in an act that’s designed to add to its assets and potentially give a nudge to the housing market, the Bank of Canada (BoC) set a plan in motion to purchased government back mortgage bonds. The fact is, it’s usually a bad omen when mortgage liquidity concerns are addressed by government institutions. What’s an...