Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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How seniors can use TFSAs to have more in retirement + MORE Dec 30th
Because the biggest single expense in retirement is usually tax, high-income seniors should strive to use Tax-free Savings Accounts (TFSA) to minimize the tax bite in their later years.
The key is to maximize both contributions and growth no matter how old you are, which means holding proper growth .... More »
Home Capital shareholders reject new investment from Berkshire Hathaway + MORE Sep 13th
Shareholders of Home Capital Group Inc. voted against taking a second life line from Warren Buffett's Berkshire Hathaway, which keeps the billionaire's stake in the alternative mortgage lender at just under 20 per cent..... More »
How a young couple can kill $142,000 in debt and start investing + MORE Mar 19th
iStock
Julie and David live in Calgary with their two daughters, ages 10 and 7. David, 40, is a cable technician earning $150,000 annually while Julie, 37, works part-time at a retail store near home earning $6,000 annually. In 2014, their lives changed when David fell on the job and injured his lef.... More »
The latest in mortgage news: record population growth to keep upward pressure on home prices + MORE Jul 21st
Canada's expected population growth will worsen the already limited housing supply and result in even higher home prices, according to a new report.... More »
New year, better mortgage rates: Credit tips to get you there + MORE Jan 5th
As we step into a new year, it’s a great time to reassess your financial habits and ensure your credit profile is in top shape..... More »
Toronto, Prairie housing markets at high risk for correction: CMHC
– theglobeandmail.com
The Canada Mortgage and Housing Corporation warned that home prices are now outstripping economic fundamentals in 11 out of 15 major markets
What’s on the Minds of Lender Execs
– canadianmortgagetrends.com
Last month Scotiabank hosted its always-informative Financials Summit. Top brass from various lenders spoke at the event and each had a few sound bites of note. Here are some of the more notable ones: CIBC is working to take “paper and process” out of the mortgage system and get answers to mortgage clients more quickly, said President & CEO Victor Dodig. Scotiabank has “rapid lab” teams working to “reduce frictions” in its mortgage business. The bank’s pull-through rate, in terms of pre-approval to fulfillment, “was lower than we wanted” at 30-35%, said CEO Brian Porter. “We think we can get that READ MORE
Are CMHC Condo Stats Skewed?
– ratesupermarket.ca
Canada Mortgage and Housing Corp. (CMHC) has released its housing forecast for 2016 and 2017 and it’s not as rosy as homeowners have hoped. Although the CMHC doesn’t foresee a housing bubble, the crown corporation predicts housing prices will barely keep up with the rate of inflation over the next two years. This is good news for buyers… but not so great for those already in the market.
Oil Prices Impacting Some Provinces
The CMHC attributes much of the slowdown in housing to the declining price of oil. While housing activity has been given a boost from lower oil prices, a lower loonie and record low mortgage rates in Ontario and B.C., oil-rich provinces like Alberta have been struggling. The CMHC foresees the “counterbalancing effect” to slow down over time with price increases moderating.
Sales and Prices to Slow
Homeowners hoping to see their real estate values continue to skyrocket will be disappointed; CHMC predicts the average price of resale homes in Canada to reach $437,700 this year, a 7…
11 Housing Markets In Canada Are Overvalued: CMHC
– walletpop.ca
TORONTO — Canada Mortgage and Housing Corp. says it has detected overvaluation in 11 housing markets, with other concerns flagged in Toronto, Winnipeg, Saskatoon and Regina.
A new CMHC report released today says acceleration in home prices and overvaluation — which occurs when prices aren’t supported by fundamental drivers such as income and population — suggest that trouble may be brewing in Toronto.
In Winnipeg, Saskatoon and Regina, the federal agency says it has found evidence of overvaluation and overbuilding, which occurs when the supply of homes outpaces the demand.
Saskatoon was not identified as problematic in CMHC’s last quarterly assessment as only one risk factor was present that city — overbuilding. But since then the agency has found signs of overvaluation in its real estate market, as well.
CMHC says an overbuilding of condo units may also be emerging in Toronto, Montreal and Ottawa, and the agency is monitoring those markets for developments.
Meanwhile, the agency says evidence of problematic conditions in Vancouver is weak, although signs of overvaluation are beginning to emerge…
Overvaluation in 11 housing markets in Canada, CMHC report says
– canadianbusiness.com
TORONTO – Canada Mortgage and Housing Corp. says it has detected overvaluation in 11 housing markets, with other concerns flagged in Toronto, Winnipeg, Saskatoon and Regina.
A new CMHC report released today says acceleration in home prices and overvaluation — which occurs when prices aren’t supported by fundamental drivers such as income and population — suggest that trouble may be brewing in Toronto.
In Winnipeg, Saskatoon and Regina, the federal agency says it has found evidence of overvaluation and overbuilding, which occurs when the supply of homes outpaces the demand.
Saskatoon was not identified as problematic in CMHC’s last quarterly assessment as only one risk factor was present that city — overbuilding. But since then the agency has found signs of overvaluation in its real estate market, as well.
CMHC says an overbuilding of condo units may also be emerging in Toronto, Montreal and Ottawa, and the agency is monitoring those markets for developments.
Meanwhile, the agency says evidence of problematic conditions in Vancouver is weak, although signs of overvaluation are beginning to emerge…
A new CMHC report released today says acceleration in home prices and overvaluation — which occurs when prices aren’t supported by fundamental drivers such as income and population — suggest that trouble may be brewing in Toronto.
In Winnipeg, Saskatoon and Regina, the federal agency says it has found evidence of overvaluation and overbuilding, which occurs when the supply of homes outpaces the demand.
Saskatoon was not identified as problematic in CMHC’s last quarterly assessment as only one risk factor was present that city — overbuilding. But since then the agency has found signs of overvaluation in its real estate market, as well.
CMHC says an overbuilding of condo units may also be emerging in Toronto, Montreal and Ottawa, and the agency is monitoring those markets for developments.
Meanwhile, the agency says evidence of problematic conditions in Vancouver is weak, although signs of overvaluation are beginning to emerge…
