Canadian real estate

Canadian real estate

Your mortgage is about to get more expensive

The Bank of Canada raised its benchmark interest rate to 1.25 per cent Wednesday and signaled that, barring certain risks, more hikes are likely in the rest of the year. That’s creating an unusual situation for Canadians: for the first time in years, those renewing mortgages will be faced with higher rates and an increase in [...]

By | 2018-01-20T15:41:38+00:00 January 20th, 2018|Economy|Comments Off on Your mortgage is about to get more expensive

Home sales dip in October as market cools

OTTAWA - Canadian home resales dipped last month for the first time since February in what many see as a signal that a so-called correction in the housing market remains in place. The Canadian Real Estate Association reported Friday that the number of transactions fell 3.2 per cent in October from September on a seasonally [...]

By | 2017-01-04T01:02:19+00:00 November 25th, 2013|Economy|Comments Off on Home sales dip in October as market cools

Real Estate continues to grow

The Canadian real estate industry will get more good news today — not that it needs any more positive spin or Finance Minister Jim Flaherty even wants to hear it. The Canadian government has no plans for now to clamp down on the housing market even though prices are rising again, Finance Minister Jim Flaherty [...]

By | 2013-10-30T17:04:19+00:00 October 30th, 2013|Economy|Comments Off on Real Estate continues to grow

Spring Real Estate Market

RBC Economics published research early last week on the growth of Canadian consumer debt in February. It continues to decelerate and especially encouraging is that non-mortgage debt grew by only 2.5% in February, on a year-over-year basis, its lowest level of growth in 20 years! Total non-mortgage consumer debt stood at $512 billion and mortgage [...]

By | 2017-01-04T01:02:26+00:00 April 14th, 2013|Economy|Comments Off on Spring Real Estate Market

Canadian home sales edge higher in January

According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity edged up on a month-over-month basis in January 2013. National sales activity has held fairly steady after gearing down last August in the wake of tightened mortgage lending rules. Highlights: National home sales rose 1.3% from December to January. [...]

By | 2017-01-04T01:02:26+00:00 February 15th, 2013|Economy|Comments Off on Canadian home sales edge higher in January

Residential Real Estate

The predicted slump in Canada’s housing market has failed to materialize. Apart from two areas of acute weakness – Toronto’s condo market and Vancouver in general – there has been an orderly retreat. While the December 2012 figures in Toronto, for example, showed a 20% drop in sales compared to the year before, the January [...]

By | 2013-02-12T20:47:47+00:00 February 12th, 2013|Economy|Comments Off on Residential Real Estate

Home sales plunge, prices still holding up.

Housing cools Canada's housing market continues to cool markedly, with sales plunging 17.4 per cent in December from a year earlier. Prices, however, still held up, with a gain of 1.6 per cent from December, 2011. On a month-over-month basis, sales were little changed from November, the Canadian Real Estate Association said today. New listings [...]

By | 2017-01-04T01:02:27+00:00 January 23rd, 2013|Economy|Comments Off on Home sales plunge, prices still holding up.

No housing bubble in sight

The head of Canada’s biggest bank and one of the country’s leading developers said the housing market is not in a bubble, even as one economist said Toronto is caught in a “condo craze.” Canadian housing starts rose to the highest since September 2007 last month, led by multiple-unit projects, Canada Mortgage & Housing Corp. [...]

By | 2017-01-04T01:02:28+00:00 May 9th, 2012|Economy|Comments Off on No housing bubble in sight

Mortgage Planning Tips

When financing a home, the following considerations can help you to save money and provide for greater economic stability in the event of financial challenges down the road such as lower income levels, increased monthly expenses and/or higher interest rates. Consider a lesser mortgage amount than the maximum you can afford Mortgage Professionals use two [...]

By | 2017-01-04T01:02:29+00:00 April 6th, 2012|Mortgage Tips|Comments Off on Mortgage Planning Tips

Modest increase in sale for 2012, dip for 2013

Sales of existing homes in Canada are projected to increase slightly this year, but dip in 2013, the Canadian Real Estate Association said on Monday. Sales are predicted to rise 0.3 per cent in 2012 to 458,800 nationally, up from 457,305 in 2011, said CREA. The modest increase is attributed to rising demand in Alberta, [...]

By | 2012-03-05T20:55:09+00:00 March 5th, 2012|Economy|Comments Off on Modest increase in sale for 2012, dip for 2013