Mortgage News

Canadians believe home prices will continue to rise: Poll

Despite the slowdown of house prices in most parts of the country, many Canadians feel that real estate will be more costly by 2014, according to a new survey released yesterday. According to the latest Spring Housing Report, released by BMO, about half (52 per cent) of Canadians say housing will cost more in two…

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Investors, get ready for more bidding wars!

There’s yet more indication investors – even those focused on buying fixer-uppers – will face increased competition from desperate homebuyers, with national sales rising 2.5% in March even as the number of new listings fell. Actual activity, as opposed to seasonally adjusted, rose 1.6% above the year-ago period’s, but it was month-over-month sales that climbed…

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More Canadians locking in low-rate mortgages, reducing debt

Canadians have been taking advantage of record-low interest rates to lock in their mortgages, according to a new survey. Highlights of CAAMP report: – 23% of mortgage borrowers voluntarily increased their regular payments- 19% made lump sum payments – 10% made both lump sum payments and increased their regular payments – 50% of borrowers pay at…

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New mortgage rules may further expose Canada’s condo market to foreign investors, as domestic buyers are forced to bow out of already-pricey urban markets, say critics.

International investors captivated by condo markets in Toronto and Vancouver may be the last to complain about new, tighter mortgage rules that could block first-time homebuyers from accessing starter condos, say analysts. Those foreign buyers are often making their purchases with more than 20 per cent down, and well outside of the influence of the…

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Home Prices Rising

Home resale prices rose 6.5% in January from a year earlier, according to the Teranet-National Bank Composite House Price Index. The S&P/Case-Shiller index of property values in 20 U.S. cities fell 3.8% in January from a year earlier after dropping 4.1% in December, a March 27 report from the group showed. The country’s resale housing…

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