Housing Market

Housing Market

How Have the New Mortgage Rules Impacted the Price of Homes throughout Canada?

How Have the New Mortgage Rules Impacted the Price of Homes throughout Canada? The last few years have brought great change to the Canadian housing market, primarily due to the most recently implemented mortgage rules that were put in place. While these changes and rules have been put in place as an attempt to protect [...]

By | 2018-10-10T22:31:19+00:00 October 10th, 2018|Mortgage Rules, Stress Test|Comments Off on How Have the New Mortgage Rules Impacted the Price of Homes throughout Canada?

Jim Flaherty Receptive to the idea of ending CMHC

The International Monetary Fund recently suggested that Canada should consider winding down government backing of mortgages — and Finance Minister Jim Flaherty is sounding receptive to the idea. Ending or limiting the activities of Canada Mortgage and Housing Corp., the government-run mortgage insurer, would certainly rock the country’s real estate business to the core, as [...]

By | 2017-01-04T01:02:18+00:00 December 12th, 2013|Economy|Comments Off on Jim Flaherty Receptive to the idea of ending CMHC

Flaherty charges CMHC new risk fee on mortgages

Finance Minister Jim Flaherty is taking another step to curb taxpayers’ exposure to the housing market, by charging Canada Mortgage and Housing Corp. a new risk fee. As of Jan. 1, the Crown corporation will have to pay the government a fee equivalent to 3.25 per cent of the mortgage insurance premiums it writes and [...]

By | 2017-01-04T01:02:18+00:00 December 5th, 2013|Economy|Comments Off on Flaherty charges CMHC new risk fee on mortgages

CMHC Mortgage default Insurance

No one wants to inflate a housing bubble by encouraging folks who can’t afford the debt to buy. But many creditworthy first-time homebuyers are paying much more than they should have to for a significant portion of their housing purchase. When it comes to mortgage default insurance, Canadians get little choice and sky high prices, [...]

By | 2017-01-04T01:02:18+00:00 November 25th, 2013|Economy|Comments Off on CMHC Mortgage default Insurance

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

Canada won’t interfere in housing market — for now: Flaherty

OTTAWA — 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 said on Monday, but he pledged to investigate whether the price uptick looks to be more than temporary. Finance Minister Jim Flaherty says he will not only balance [...]

By | 2017-01-04T01:02:19+00:00 October 29th, 2013|Economy|Comments Off on Canada won’t interfere in housing market — for now: Flaherty

Why no rate hike means variable mortgages are safe again

A signal from the Bank of Canada that it is not raising its key lending rate any time soon, coupled with the likelihood of falling mortgage rates, could be enough to keep the latest housing rally going. There have been signs the housing market is in recovery mode with year-over-year sales rising in many markets, [...]

By | 2017-01-04T01:02:19+00:00 October 25th, 2013|Mortgage Products|Comments Off on Why no rate hike means variable mortgages are safe again

Canadian Real Estate Association raises the future outlook for home sales this year.

OTTAWA - The Canadian Real Estate Association has raised its outlook for homes sales this year as it reported an 11.1 per cent jump in August sales compared with a year ago. A sold sign in Oakville, Ont., Monday, July 23, 2012. The Canadian Real Estate Association is raising its outlook for homes sales this [...]

By | 2017-01-04T01:02:25+00:00 September 25th, 2013|Economy|Comments Off on Canadian Real Estate Association raises the future outlook for home sales this year.

NO HOUSING BUBBLE

Finance Minister Jim Flaherty said he isn’t planning new measures to restrain the country’s housing market because his past four rounds of action have already worked to avoid a bubble. Flaherty has warned consumers to avoid mortgages that could become unaffordable when borrowing costs rise, after Canadians took on record household debts relative to disposable [...]

By | 2017-01-04T01:02:25+00:00 August 22nd, 2013|Economy|Comments Off on NO HOUSING BUBBLE