Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
Why are mortgages so expensive in Canada? + MORE Nov 21st
Canada’s mortgage market has now absorbed four Bank of Canada (BoC) rate cuts, and house hunters are feeling the effects. The latest housing affordability data compiled by Ratehub.ca finds that lower mortgage rates made it easier to purchase a property in nearly every major Canadian housing marke.... More »
Solving Canada's National Housing Crisis Begins At Home + MORE Oct 4th
Canada has recently been held up as a shining example of a progressive nation. Just while countries across the Atlantic and south of the border appear to be adopting a more closed door attitude, Canada is forging ahead with inclusive policy and getting recognition for doing what's right.
This po.... More »
Feds propose changes to spread mortgage risks + MORE Oct 22nd
OTTAWA – The federal government formally launched consultations Friday to explore potential changes that would shift some of the financial risk tied to insured mortgages from the shoulders of taxpayers to lenders, such as the banks.
Under Canada’s current system, lenders are able to transfer vir.... More »
Overvaluation in 11 housing markets in Canada: CMHC + MORE Nov 1st
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 su.... More »
Expect tougher mortgage rules by November + MORE Sep 13th
(Getty Images / Nigel Carse)
Home buyers should expect tougher mortgage rules to kick in as early as November 1 of this year.
In an announcement released today by the nation’s financial regulator, banks and lenders that offer mortgage financing will face stricter regulations and this will transl.... More »
Could Canada’s Housing Market Be Undervalued?
– ratesupermarket.ca
Canada’s housing market is trapped within a high-priced bubble, vulnerable to interest rates, global instability and rising debt: this is one of the most widely accepted truths regarding Canadian housing, touted by many a headline and economic pundit.
However, the idea that Canada’s market is a red-hot, debt-inducing buyer’s nightmare has been challenged by Will Dunning, chief economist at CAAMP and one of our expert Mortgage Rate Outlook Panelists. In his new paper “How To Dissect A Housing Bubble”, Dunning counters some of these commonly held ideas, and questions the data they’re based on.
The claim turning the most heads: Canada’s housing market isn’t overpriced at all… and may even be undervalued.
Here’s a look at Dunning’s main arguments – do they change YOUR thoughts on the cost of housing in Canada?
No Doubt About It… Housing Is Expensive
This isn’t to say that housing prices in our country aren’t steep, and getting worse; recently, the Canadian Real Estate Association found the average home price will total $397,000 this year, a 3…
Canadian Finance Minister Jim Flaherty resigns from cabinet
– moneysense.ca
TORONTO - Longtime Canadian Finance Minister Jim Flaherty has resigned from his cabinet position.
Flaherty, who has had the job since 2006, said Tuesday he is returning to the private sector.
He has battled a rare skin disease over the last year but he says his decision to leave politics is not related.
Prime Minister Stephen Harper’s Conservative government plans on entering an election next year with a budget surplus.
Canada’s commodity-rich economy avoided the worst of the 2008 financial crisis and has fared better than other nations. There was no mortgage meltdown or subprime crisis in Canada, and Canada’s banks are rated among the soundest in the world.
The post Canadian Finance Minister Jim Flaherty resigns from cabinet appeared first on MoneySense.
Flaherty, who has had the job since 2006, said Tuesday he is returning to the private sector.
He has battled a rare skin disease over the last year but he says his decision to leave politics is not related.
Prime Minister Stephen Harper’s Conservative government plans on entering an election next year with a budget surplus.
Canada’s commodity-rich economy avoided the worst of the 2008 financial crisis and has fared better than other nations. There was no mortgage meltdown or subprime crisis in Canada, and Canada’s banks are rated among the soundest in the world.
The post Canadian Finance Minister Jim Flaherty resigns from cabinet appeared first on MoneySense.
