Mortgage News

Surprise drop in U.S. existing homes sales show uneven progress in recovery

13/04/22 10:38 AM ET Getty Images: A drop in the inventory of cheaper properties for sale compared with last year may be restraining the pace of progress in the industry. Sales of previously owned U.S. homes unexpectedly dropped in March, showing uneven progress in the industry. Purchases of previously owned houses, tabulated when a contract…

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Get ready condo flippers, Canada Revenue Agency is hunting you

Last Updated: 13/04/21 10:23 AM ET National Post: With the deadline for filing taxes this month, you might want to think very carefully about how you record that condo sale you made in 2012. Editor’s Note: This story has been altered to correct the identity of Robert Kepes, a Toronto tax lawyer at Morris Kepes Winters…

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Canada’s national MLS® forecast stable for 2013, improving in 2014

According to an updated 2013 forecast from The Canadian Real Estate Association (CREA), national sales activity in Canada has held fairly steady after gearing down last August in the wake of changes to mortgage rules that took effect July 9, 2012. The CREA forecast, issued March 15th, indicates that although the number of MLS® sales…

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China property prices climb as cities defy government policies to cool housing market

 13/04/18 11:34 AM ET Wang Zhaowang Zhao/AFP/Getty Images: A real estate agent checks a property advertising board in Beijing. All real estate markets are local, says the industry axiom, one that China’s central government is painfully aware of as its efforts to rein in home prices are undermined by uncooperative municipal authorities. Former Premier Wen…

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Bank of Canada holds rate steady, but chops growth forecast

Last Updated: 13/04/17 11:40 AM ET Canadian PressThis is Mark Carney’s penultimate monetary policy decision before he moves to his new job at the Bank of England. OTTAWA — Canada’s economic fate could rest strongly on our neighbours to the south, just as long as the crisis in Europe remains contained. The International Monetary Fund no…

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Canada’s housing prices drop more than 15% from last year

13/04/15 | Last Updated: 13/04/15 11:05 AM ET National Post Housing market takes a big step back since last Spring but prices are holding up. It’s official: Canadian home prices are boring (and that’s a good thing)   TORONTO — Sales of existing homes in Canada rose in March from February, but year-over year sales fell sharply, the…

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Here’s how to play it really safe in the housing market — but it’ll cost you

Last Updated: 13/04/11 6:20 PM ET Peter J. Thompson/National PostThe five-year fixed-rate mortgage still comprises about 66% of the market, but 7% of Canadians have a mortgage in the six- to 10-year range. You can’t get any more conservative than this, when it comes to the housing market. You want lock in that mortgage? How about…

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The West is driving new home price gains in Canada

13/04/11 9:28 AM ET Canadian Press Calgary prices rose 1.0% from January — the largest month-over-month increase since May 2007 — on higher material and labor costs. OTTAWA — New home prices in Canada rose by 0.2% in February, the 23rd consecutive month-on-month increase, pushed up by a buoyant market in the western city of…

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Scotiabank CEO to Flaherty: Stop meddling in the mortgage market

13/04/10 | Last Updated: 13/04/10 9:40 AM ET THE CANADIAN PRESS/Darryl Dyck“I understand why the finance minister is concerned about the Canadian economy, but I just philosophically don’t think” government should be setting product pricing, Scotiabank CEO Richard Waugh said Tuesday. Finance Minister Jim Flaherty shouldn’t interfere with mortgage pricing set by the country’s lenders, Bank of…

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Homebuyers expect to spend $300,000 on first property, poll shows

Last Updated: 13/04/09 9:18 AM ET Sean DeCory / National Post Vancouver topped the survey as the most expensive city, with buyers there saying they’re going to shell out an average of $539,000 for a home, followed by Calgary at $474,000 and Toronto at $446,000. BMO mortgage expert Laura Parsons says like with any major purchase,…

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