Housing starts near 10-year high on Toronto condo boom + MORE Dec 9th

Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
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Many in the mortgage industry reacted with surprise after learning about a little but very important nugget buried in an OSFI report released earlier this week..... More »
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Variable Mortgage Rates to Rise as Prime Rate Jumps to 3.20% + MORE Apr 16th

Variable-rate mortgage holders are about to see their interest costs rise again after Canada's Big 5 banks announced a 50-basis-point hike to prime rate on Wednesday..... More »

Understanding mortgage affordability Feb 18th

Let’s talk about mortgage affordability. We know that housing affordability is getting further out of reach for many Canadians. But, what determines mortgage affordability? How is it calculated by financial institutions and lenders? And what hidden costs should potential home buyers fact.... More »
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Mortgage interest rate hikes have stalled your home-buying dreams. Now what? + MORE Jun 12th

Being priced out of the market might just be a blessing in disguise, writes Lesley-Anne Scorgie. Bide your time by saving more and enjoying the freedom that renting brings..... More »

How much real estate should you have in a balanced portfolio? + MORE May 7th

When investors talk about income-producing assets, the first that come to mind are dividends and interest, with capital gains a close third. But what about investment real estate? If you hold an asset allocation ETF, it will be chock full of stocks and bonds but offer little real estate exposure apa.... More »
OTTAWA _ Canada Mortgage and Housing Corp. says the pace of housing starts picked up in November, pushing the six-month trend to the highest level in nearly a decade.
The Ottawa-based Crown corporation says construction of multiple-unit projects in Toronto has been a driving force behind the trend.
In November, the seasonally adjusted annualized rate of housing starts across Canada was 252,184 units _ up from 222,695 units in October.
Multiple-unit urban starts accounted for 175,016 units on a seasonally adjusted basis, up 16.9 per cent, while single-detached urban starts were up 7.5 per cent to 60,396 units and rural starts were estimated at 16,772.
CIBC World Markets chief economist Avery Shenfeld said in a note that the size of the increase was “stunning” but it “doesn’t clash as much with other Canadian housing indicators as you might think.”
“Home sales have slowed, but with builders focused on condos that are started well after most of the units have been bought, it’s going to be a while before quieter sales offices mean fewer cranes on the horizon…

Continue Reading On canadianbusiness.com »

Canada Mortgage and Housing Corp. says the pace of housing starts picked up in November, with condo building in Toronto driving the trend.

Continue Reading On cbc.ca »

Fall Survey Highlights Stress Test Fallout

– canadianmortgagetrends.com

OSFI’s forthcoming stress test for all uninsured mortgages after January 1 will have far-reaching effects across the mortgage industry, potentially removing up to 50,000 buyers from the real estate market each year. That’s one of many key findings from Mortgage Professionals Canada’s Annual State of the Residential Mortgage Market survey, released this week by the […]

Continue Reading On canadianmortgagetrends.com »

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