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...
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...
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...
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...
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...
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 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...
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...
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...
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