Mortgage News

GTA REALTORS® Release Mid-Month Resale Housing Figures

March 21, 2013 – Greater Toronto Area REALTORS® reported 3,594 transactions through the TorontoMLS system during the first 14 days of March 2013 – down 11.5 per cent compared to the same period last year.  The number of new listings was up by less than two per cent. “With sales down and listings up slightly, the GTA market was…

Details

Conservative minister Bernier criticizes Flaherty for mortgage rate intervention

13/03/20 | Last Updated: 13/03/20 12:45 PM ET Adrian Wyld/The Canadian Press: “Me, personally, I would not dictate to businesses what prices to decide,” said Small Business Minister Maxime Bernier, referring to Finance Minister Jim Flaherty’s pressure on Manulife to withdraw their discount on five-year mortgages. OTTAWA — Not everyone in the Conservative cabinet is backing Jim…

Details

Calgary entrepreneur Brett Wilson moving forward with 800-home Strathmore development

 First phase a residential subdivision with more than 800 homes BY MARIO TONEGUZZI, CALGARY HERALD MARCH 19, 2013  Calgary entrepreneur Brett Wilson is planning a major residential development in Strathmore. Photograph by: Leah Hennel , Calgary Herald CALGARY — Well-known Calgary entrepreneur Brett Wilson says his residential development in Strathmore could be in the ground this summer…

Details

Why homebuyers should go short on amortizations

13/03/19 | Last Updated: 13/03/19 1:26 PM ET Richard Buchan/The Canadian Press: The Conference Board says a shorter amortization can protect against higher rates. Both variable and five-year mortgages are now available for less than 3 per cent. Those low rates won’t last forever, and there’s a simple way to protect yourself against rising rates and save…

Details

Canadian housing boom over, economists say

After years of growth, economists say the real estate boom is over and predict Canadian housing prices to flatline over the next decade. A TD Economics study, Long-Run Rate of Return for Canadian Home Prices, predicts a “string of lacklustre performances” over the next few years. The annual rate of return for real estate will be…

Details

No crash in store for Canadian housing market: Scotiabank

13/03/18 3:17 PM ET Brett Gundlock/Bloomberg News: Home sales have already dropped more than 10% from spring 2012, with prices leveling off but not yet falling except in particularly hard-hit markets. TORONTO — A slowdown in Canada’s housing market will continue through 2013 and years of stagnation may follow, but no crash is likely because…

Details

When they hear reports come from the U.S. saying the market bottomed a year ago, people are feeling more comfortable

  New-home sales rose to an annual pace of 437,000 in January, the highest rate since July 2008, according to the Commerce Department. While investors have missed the bottom of the market, economists say that there are still deals to be had. “House prices in some cities are up 10-15% from the lows; but they…

Details

USA No longer foreclosure nation

Last Updated: 13/03/15 5:49 PM ET Canadians became the largest single foreign buyers of American properties in the sunshine states: Florida, Arizona and Nevada. The note to investors was entitled: “Someone say house party?” Strategists at the Bank of America assessed the U.S. real estate market and have bravely announced that the “positive feedback loop has…

Details

Biggest banks see U.S. home prices surging this year

Federal Reserve Chairman Ben Bernanke’s efforts to revive housing are making real estate bulls even more bullish. JPMorgan Chase & Co. more than doubled its forecast for U.S. home price gains in 2013 to 7% this week, and predicts a more than 14% increase through 2015. Bank of America Corp. said last week property values…

Details

Despite housing concerns, investing opportunities in Canada and the U.S. abound

Canada’s housing market is apparently on the ropes, particularly in major cities such as Vancouver and Toronto where prices appear overvalued. The softening market might lead investors to consider trying to cash in on the rebounding U.S. market. Housing prices stateside are expected to grow in the high single digits this year and nearly 15%…

Details