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Toronto condo sales reach record highs in February

Toronto has seen a record number of condo apartments sold last month, according to the Building Industry and Land Development Association. In a March 23 CNW press release, BILD announced that more than twice as many new condo apartments were sold compared to low-rise units. Data from Altus Group revealed that in February, 3,542 transactions [...]

By |2017-03-27T20:48:26+00:00March 27th, 2017|Uncategorized|Comments Off on Toronto condo sales reach record highs in February

CMHC to hike mortgage insurance premiums this month

The Canada Mortgage and Housing Corp. has announced that starting March 17, it will be increasing the premiums on its insured loans, with the hike calculated based on down payments of between 5 and 9.99 per cent, 25-year amortization, and five-year term at 2.94 per cent. Consumers who have locked into this kind of loan [...]

By |2017-03-09T17:16:50+00:00March 7th, 2017|Mortgage Insurance|Comments Off on CMHC to hike mortgage insurance premiums this month

Problematic conditions persists in real estate market

Canada's federal housing agency says strong evidence of problematic conditions continues to exist in the national real estate market. Canada Mortgage and Housing Corporation says the most prevalent issues it has observed in the 15 markets it monitors are overbuilding and overvaluation, which occurs when house prices outpace economic fundamentals such as income and population [...]

By |2017-01-30T17:53:37+00:00January 29th, 2017|Real Estate Market|Comments Off on Problematic conditions persists in real estate market

What Are the Real Effects of the Mortgage Changes

It’s been a week since the new rule changes have taken effect and it seems the biggest concern for Canadians revolves around the new qualifying requirements for new insured mortgages (less than 20% down payment). Borrowers will have to qualify based on the Bank of Canada posted 5 year rate which is currently 4.64%. This [...]

By |2017-01-30T01:49:34+00:00October 25th, 2016|Mortgage|Comments Off on What Are the Real Effects of the Mortgage Changes

New Housing Measures announced

Finance Minister Bill Morneau announced three new housing measures aimed at protecting the nation’s housing industry. Those preventative measures are; Standardizing lending criteria for high- and low-ratio mortgages, including a mortgage stress test Closing tax loopholes for capital gains exemptions on principal residence sales Consulting with industry stakeholders to ensure risk is properly distributed. This [...]

By |2017-01-30T01:52:25+00:00October 3rd, 2016|Housing Market|Comments Off on New Housing Measures announced

Interest Rates Holding Steady

The Canadian economy is performing stronger than it was during a difficult second quarter, according to the National Bank of Canada, but the Bank of Canada will likely hold its benchmark interest rate for the foreseeable future. “We  are  keeping  unchanged  our  Canadian  GDP  growth  forecasts  for  both  this  year  and  next  at  1.2% and 1.8% [...]

By |2017-01-30T01:51:59+00:00October 3rd, 2016|Interest Rates|Comments Off on Interest Rates Holding Steady

Vibrant housing segment now a crucial factor in Canadian GDP growth

Canada’s lively real estate segment is among the few things keeping the economy afloat as the country experienced one of its slowest GDP growth rates on record, according to the latest numbers from Statistics Canada. Together, red-hot housing markets and vigorous bank lending now comprise approximately 20 percent of the economy—a proportion that last manifested [...]

By |2017-01-30T01:54:31+00:00August 8th, 2016|Canadian GDP growth|Comments Off on Vibrant housing segment now a crucial factor in Canadian GDP growth

Property Investment

Are you looking to invest in property?  Let us help you in in finding exactly how much you can afford to borrow, which is the best mortgage for you or how much you could save right now if you have an existing mortgage

By |2017-01-30T01:54:54+00:00July 8th, 2016|Property Investment|Comments Off on Property Investment

Mortgage Rates Forecast by CMHC

“Mortgage rates are expected to rise moderately from current levels in the first half of 2017. We forecast the five-year posted rate to lie within the 4.4% to 5.0% range in 2016 and within the 4.7% to 5.3% range in 2017,” CMHC said in its quarterly report, released Monday. “Low mortgage rates will continue to [...]

By |2017-01-30T01:55:04+00:00May 31st, 2016|Mortgage Rates|Comments Off on Mortgage Rates Forecast by CMHC

Blaming Foreigners For Housing Affordability Problems ‘Too Simplistic’

While the dominance of foreign money in Canada’s housing markets is certainly having an effect on prices, the deputy chief economist of CIBC World Markets said that this narrative alone does not give a fully accurate picture of what’s driving the increases.

By |2017-01-30T01:55:14+00:00May 20th, 2016|Housing Affordability|Comments Off on Blaming Foreigners For Housing Affordability Problems ‘Too Simplistic’