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Why 4 websites give you 4 different credit scores — and none is the number most lenders actually see

Published on Tue, 19 Nov 2019 16:29:00 +0000

By: Jenny Cowley, Jeannie Stiglic, Asha Tomlinson · CBC News Whether through ads or our own experiences dealing with banks and other lenders, Canadians are frequently reminded of the power of a single number, a credit score, in determining their financial options. That slightly mysterious number can determine whether you’re able to secure a loan and how much extra it will cost to pay ... Read More

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Ask An Agent: What Will Real Estate Sales Look Like In 3-5 Years?

Published on Mon, 18 Nov 2019 17:53:47 +0000

by Aaron Broverman Andre Kutyan always has an ear to the ground. The Harvey Kalles sales representative has been an agent for 15 years. In 2017, Kutyan was contacted by the The Globe and Mail and asked how he was able to get multiple offers on a home in mid-town Toronto. This was after the introduction of the Ontario Fair Housing Plan, when he ... Read More

The post Ask An Agent: What Will Real Estate Sales Look Like In 3-5 Years? appeared first on Mortgage Talk Canada.

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Canadian housing is on a healthy streak after 2.5 years in dangerous territory

Published on Mon, 11 Nov 2019 15:00:04 +0000

By: Sean MacKay Overvalued, overbuilt, overheated — all of these terms have been used to describe the potential danger that the Canadian housing market has found itself in at various points over the last few years. But even as many said with certainty that the worst was still to come for the market, it turned a corner earlier this year and ... Read More

The post Canadian housing is on a healthy streak after 2.5 years in dangerous territory appeared first on Mortgage Talk Canada.

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Cannabis industry contributed to spike in home prices, housing shortages: survey

Published on Tue, 05 Nov 2019 14:41:54 +0000

By: Jeremiah Rodriguez, CTVNews.ca Writer Canada’s booming cannabis industry has led to a spike in housing prices and home shortages in some regions, according to a new report from RE/MAX. For example, Smiths Falls, Ont. — home to Canopy Growth, which Bloomberg dubbed the largest cannabis producer in the world — now employs 1,300 people. An unintended consequence of that employment growth is a shortage of ... Read More

The post Cannabis industry contributed to spike in home prices, housing shortages: survey appeared first on Mortgage Talk Canada.

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More Canadians are concerned about their debt obligations

Published on Tue, 29 Oct 2019 13:58:27 +0000

by Duffie Osental More Canadians are starting to feel the pressure of debt obligations such as mortgage payments. The latest MNP Consumer Debt Index revealed that over half (54%) of Canadians said that they are more concerned about their ability to repay their debts than they used to be – which isn’t very surprising given that the average Canadian, after paying ... Read More

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Industry tells re-elected Trudeau gov’t, ‘We’re watching you’

Published on Wed, 23 Oct 2019 13:57:54 +0000

by Ephraim Vecina The real estate industry will be closely looking at the re-elected Liberal government to see if it will live up to its mandate of serving the people’s best interests, according to RE/MAX Ontario-Atlantic Canada executive vice president and regional director Christopher Alexander. “Affordability is a top priority for Canadians, and it’s encouraging to see the theme of affordability ... Read More

The post Industry tells re-elected Trudeau gov’t, ‘We’re watching you’ appeared first on Mortgage Talk Canada.

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CMHC reports annual pace of housing starts in Canada slowed in September

Published on Wed, 16 Oct 2019 15:17:35 +0000

The Canadian Press OTTAWA — The pace of Canadian housing starts slowed in September compared with August, but still came in better than expected. Canada Mortgage and Housing Corp. said Tuesday the seasonally adjusted annual rate fell 2.5 per cent month-over-month to 221,202 units in September compared with 226,871 in August. However, economists on average had expected an annual pace ... Read More

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Vacant homes across Canada number over a million

Published on Mon, 07 Oct 2019 13:59:45 +0000

by Ephraim Vecina Roughly 1.34 million homes across Canada lie empty or merely hold temporary occupants, according to a report by Point2 Homes. The 2016 figure, the most recently available batch, represented 8.7% of the units available in the national market. This share was noticeably larger than the 8.4% proportion seen a decade prior, and was far larger than the 2.8% ... Read More

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Tories, Liberals, NDP step up housing platforms

Published on Mon, 30 Sep 2019 13:41:59 +0000

by Neil Sharma The two frontrunners in next month’s federal election are appealing to Canadians concerned about the state of the environment. As an election promise, the Conservatives are offering tax credits for renovations oriented towards energy-efficiency, which leader Andrew Scheer says will help the country meet its target for reducing greenhouse gas emissions. The tax credit would allow up ... Read More

The post Tories, Liberals, NDP step up housing platforms appeared first on Mortgage Talk Canada.

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Rising home prices encourage consumers to borrow and spend, giving economy a boost

Published on Mon, 23 Sep 2019 14:47:59 +0000

The Canadian press As Canadian home prices rose from 2014 to 2017, many households tapped the growing value in their homes for other spending, according to study by Bank of Canada economists. About two million households used home equity lines of credit (HELOCs), but another 380,000 got mortgage financing to raise equity, taking advantage of interest rates that fell in 2015, the ... Read More

The post Rising home prices encourage consumers to borrow and spend, giving economy a boost appeared first on Mortgage Talk Canada.

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