Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
CMLS introduces Aveo Flex 40, Canada’s newest 40-year mortgage + MORE Jan 29th
After its recent acquisition by Nesto, CMLS Group is signalling to brokers that they’re ready to do business, introducing a new partnership program and a 40-year amortization mortgage product..... More »
Credit Scores Improving, Says CMHC + MORE Sep 28th
New data from CMHC shows average credit scores of mortgage holders across the country are continuing to rise. A full 80.7% of mortgages in Canada are held by borrowers with a “very good” (700-749) or “excellent” (750+) credit score, CMHC says. That’s up from 78.2% in 2012. Meanwhile, t.... More »
Can I cancel my mortgage life insurance? It’s too costly + MORE Jan 26th
Q: My daughter and her husband did not earn enough, so my wife and I decided that we would help them by putting her name on the mortgage for the purchase of a new-build condo in Hamilton, Ontario. We opted to go with RBC and the mortgage was approved at a rate of 2.65%. In order to get the mortgage.... More »
Part 1: Beating the Math: Why Politicians Are Failing Homebuyers and What you can do. Apr 21st
If you are trying to buy a house in Canada right now, the math is completely broken. Instead of treating the root causes of the housing crisis, politicians are serving up PR stunts that do very little to actually put keys in the hands of hardworking Canadians. Let’s look at the reality of the .... More »
Housing starts stable in 2023, but demand still outpaces growing supply of apartments + MORE Mar 28th
The Canada Mortgage and Housing Corp. says construction of new homes in Canada’s six largest cities remained stable at near all-time high levels last year, driven by a surge of new apartments—despite demand still outpacing supply for rental housing.
The agency released its biannual housing su.... More »
Canadian home sales see biggest monthly drop in 7 years
– moneysense.ca
OTTAWA — Home sales in June posted their largest monthly drop in seven years, driven by a plunge in the Greater Toronto market, the Canadian Real Estate Association said Monday.
Transactions last month were down 6.7 per cent compared with May on a national basis, the third consecutive monthly decline, with the Greater Toronto Area registering a 15.1 per cent drop.
“Changes to Ontario housing policy made in late April have clearly prompted many homebuyers in the Greater Golden Horseshoe region to take a step back and assess how the housing market absorbs the changes,” CREA chief economist Gregory Klump said in a statement.
Transactions last month were down 6.7 per cent compared with May on a national basis, the third consecutive monthly decline, with the Greater Toronto Area registering a 15.1 per cent drop.
“Changes to Ontario housing policy made in late April have clearly prompted many homebuyers in the Greater Golden Horseshoe region to take a step back and assess how the housing market absorbs the changes,” CREA chief economist Gregory Klump said in a statement.
Where to Buy Canadian Real Estate 2017
“The recent increase in interest rates could reinforce a lack of urgency to purchase or, alternatively, move some buyers off the sidelines before their pre-approved mortgage rate expires. In the meantime, some move-up buyers who previously purchased a home before first selling may become more motivated to reduce their asking price rather than carry two mortgages…
The Globe and MailHousing sales fall in most markets across CanadaThe Globe and MailHouse sales fell in a majority of markets across Canada in June, suggesting the real estate sector is cooling just as interest rates are starting to climb and Ottawa is proposing tougher mortgage rules. Sales fell in Toronto and most nearby cities …Canada's home sales fall most in 7 years, as Toronto market plungesFinancial PostHome sales across Canada fall 6.7 per cent, biggest monthly drop in seven yearsThe Daily Courier (subscription)Canada Housing Sales Decline Steeply in June — UpdateFox BusinessMortgage Broker News -Radio Canada International -New Kerala -insauga.comall 25 news articles »
(Ben Nelms/Reuters)OTTAWA — Home sales in June posted their largest monthly drop in seven years, driven by a plunge in the Greater Toronto market, the Canadian Real Estate Association said Monday.
Transactions last month were down 6.7 per cent compared with May on a national basis, the third consecutive monthly decline, with the Greater Toronto Area registering a 15.1 per cent drop.
“Changes to Ontario housing policy made in late April have clearly prompted many homebuyers in the Greater Golden Horseshoe region to take a step back and assess how the housing market absorbs the changes,” CREA chief economist Gregory Klump said in a statement.
“The recent increase in interest rates could reinforce a lack of urgency to purchase or, alternatively, move some buyers off the sidelines before their pre-approved mortgage rate expires. In the meantime, some move-up buyers who previously purchased a home before first selling may become more motivated to reduce their asking price rather than carry two mortgages…
Home sales across Canada fall 6.7 per cent, biggest monthly drop in seven years
– canadianbusiness.com
Home sales in June posted their largest monthly drop in seven years, driven by a plunge in the Greater Toronto market, the Canadian Real Estate Association said Monday, the latest evidence that a cool-down in the housing sector is taking hold.
Transactions last month were down 6.7 per cent compared with May on a national basis, the third consecutive monthly decline, with the Greater Toronto Area registering a 15.1 per cent drop.
Home sales are down 14.1 per cent from the record level set in March.
“Changes to Ontario housing policy made in late April have clearly prompted many homebuyers in the Greater Golden Horseshoe region to take a step back and assess how the housing market absorbs the changes,” CREA chief economist Gregory Klump said in a statement.
“The recent increase in interest rates could reinforce a lack of urgency to purchase or, alternatively, move some buyers off the sidelines before their pre-approved mortgage rate expires. In the meantime, some move-up buyers who previously purchased a home before first selling may become more motivated to reduce their asking price rather than carry two mortgages…
Transactions last month were down 6.7 per cent compared with May on a national basis, the third consecutive monthly decline, with the Greater Toronto Area registering a 15.1 per cent drop.
Home sales are down 14.1 per cent from the record level set in March.
“Changes to Ontario housing policy made in late April have clearly prompted many homebuyers in the Greater Golden Horseshoe region to take a step back and assess how the housing market absorbs the changes,” CREA chief economist Gregory Klump said in a statement.
“The recent increase in interest rates could reinforce a lack of urgency to purchase or, alternatively, move some buyers off the sidelines before their pre-approved mortgage rate expires. In the meantime, some move-up buyers who previously purchased a home before first selling may become more motivated to reduce their asking price rather than carry two mortgages…
