Real Estate

Real Estate

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+00:00October 30th, 2013|Economy|0 Comments

What does a First time Home buyer look like?

The average first-time home buyer in Canada is 29 years old and expects to be able to put down a down payment of $48,000 on a $300,000 home, according to a recent poll by the Bank of Montreal. But the study, released Tuesday, also found that price expectations vary widely, depending on where the home [...]

By |2013-04-21T00:02:50+00:00April 21st, 2013|Economy|0 Comments

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+00:00February 12th, 2013|Economy|0 Comments

July 2012 Housing Starts

OTTAWA, August 9, 2012 — Housing starts in Canada were trending at 219,600 units in July, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts. The standalone monthly SAAR was 208,500 units in July, down from 222,100 in June. [...]

By |2012-08-13T15:34:41+00:00August 13th, 2012|Economy, Uncategorized|0 Comments

5 tips for screening property managers

There are good property managers, and there are bad property managers – and the bad ones can cost you big bucks in damage and unpaid rent. Here are five hot tips for checking up on your current property manager or evaluating a new one. 1.Tag along Accompany your property manager on one of the periodic inspections of an [...]

By |2012-05-24T21:44:23+00:00May 24th, 2012|Uncategorized|0 Comments

Flaherty moves to tighten CMHC supervision

Ottawa moved to bring the Canada Mortgage and Housing Corporation under the purview of the country's top financial regulator Thursday. Finance Minister Jim Flaherty outlined the proposed changes to Canada's national housing agency in a wide-ranging bill tabled in parliament on Thursday. The CMHC insures the vast majority of Canadian mortgages, as well as guaranteeing [...]

By |2017-01-04T01:02:29+00:00April 26th, 2012|Economy|0 Comments

Bank of Canada says may have to hike rates

OTTAWA - The Bank of Canada left its key interest rate at 1 per cent on Tuesday as expected but said it may need to start hiking rates due to firmer-than-expected growth and inflation as well as a less hostile global backdrop. "In light of the reduced slack in the economy and firmer underlying inflation, [...]

By |2012-04-17T17:18:06+00:00April 17th, 2012|Economy|0 Comments

Calgary housing starts climb as economy picks up

More than 1,000 housing units were started last month in Calgary, including a large jump in multifamily units, as the economy starts to pick up. "The activity in the housing market is certainly reflecting some of the positive growth we're seeing in the economy," said Richard Cho, a senior market analyst at Canada Mortgage and [...]

By |2012-04-12T16:56:22+00:00April 12th, 2012|Economy|0 Comments

Mortgages for Self-employed could become more difficult.

  Mortgage brokers are taking a wait, watch and worry approach to news that CIBC’s wholesale mortgage arm, FirstLine, is no longer accepting new applications from so-called “stated-income” homebuyers. If other banks and mortgage lenders follow suit, it could become difficult for self-employed, new immigrants and higher-risk borrowers to get mortgages based on the “misleading” [...]

By |2017-01-04T01:02:29+00:00March 3rd, 2012|Mortgage Products|0 Comments

Paying off your mortgage early can cost you

Paying off your mortgage early seems like great financial planning since you’re freeing up money that can be put towards savings. But discharging a mortgage early can mean a prepayment penalty because the bank loses money. If you had a two-year term and paid the mortgage in full after 16 months, the bank is out [...]

By |2017-01-04T01:02:29+00:00March 3rd, 2012|Mortgage Tips|0 Comments