Trudeau just getting started in bid to ease housing fever
Published on Mon, 12 Apr 2021 13:34:36 +0000
by Bloomberg 12 Apr 2021 by Ari Altstedter Almost as soon as it was announced, the Canadian government’s first attempt to rein in the country’s pandemic housing boom was dismissed as not enough. Canada’s banking regulator signalled its intent Thursday to take a small step by tightening qualification rules for uninsured mortgages, worried that low interest rates will put new home buyers too ... Read More
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Read moreClearPro aims to build consumer trust and fight fraud within the mortgage industry
Published on Thu, 18 Mar 2021 13:46:19 +0000
From Equifax Canada – Newsroom Honesty is the best policy when it comes to a home purchase, a message that appears to be getting through to most Canadians, according to a recent Equifax survey on mortgage fraud. Less than half (45 per cent) of survey respondents, however, trust their broker to complete necessary forms on their behalf, 29 per cent ... Read More
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Read moreEquifax reveals what’s happening with consumer debt in Canada
Published on Fri, 05 Mar 2021 14:23:31 +0000
By Ephraim Vecina, Mortgage Broker News Canada While Canada’s overall consumer debt climbed to $2.07 trillion in Q4 2020 (up 4.1% annually) due to increased mortgage activity, per capita consumer debt actually declined amid reduced spending activity, according to Equifax. The average consumer debt, excluding mortgages, fell by 3% year over year to end up at $23,043, “primarily due to credit ... Read More
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Read moreFinalists have been posted for the Canadian Mortgage Awards 2021
Published on Thu, 25 Feb 2021 14:59:12 +0000
Head here to see the list of finalists: Canadian Mortgage Awards | Winners & Finalists 2021. Winners to be announced April 29, 2021. Follow the Canadian Mortgage Awards using the hashtag #MortgageAwardsCA.
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Read moreBank of Canada posts first-ever monthly decline in mortgage bond holdings
Published on Thu, 04 Feb 2021 14:56:08 +0000
by Ephraim Vecina, Mortgage Broker News Amid its ongoing commitment to maintain its quantitative easing program, the Bank of Canada has reported its first ever monthly decline in the amount of Canada Mortgage Bonds (CMBs) held by the institution. The central bank’s data showed that it held $9.66 billion in CMBs at the end of December, falling by 0.65% from November ... Read More
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Read moreWhy are home prices higher in Canada than in the US?
Published on Tue, 26 Jan 2021 15:04:39 +0000
by Duffie Osental The average cost of a house in Canada is almost twice as much as in the United States – something BMO’s chief economist believes could be due to several reasons. According to figures from BMO, the average home price in Canada is about 46% higher than the average cost of a home south of the border. What’s ... Read More
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Read moreCanadian Mortgage-Rate Forecast for 2021
Published on Wed, 06 Jan 2021 20:52:42 +0000
By: David Larock We begin 2021 with our glasses half full – and that’s not just because our New Year’s celebrations were cancelled. On the one hand, recently approved vaccines give us hope that we will beat the pandemic back and return to normal activities sometime this year. But on the other hand, spiking infection rates have necessitated the reintroduction ... Read More
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Read moreWindsor’s average property price has increased by more than $80,000 since last November
Published on Fri, 04 Dec 2020 16:16:54 +0000
The average price people are willing to pay for real estate in Windsor-Essex continues to skyrocket even as the COVID-19 pandemic rages on. In general, the average property price in the region has increased by nearly 25 per cent over the last year. “It has escalated lately,” Damon Winney, president of the Windsor-Essex County Realtor’s Association said. According to a monthly report ... Read More
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Read moreHome sales slowed in October but average price up 15% in past year, CREA says
Published on Tue, 17 Nov 2020 15:07:42 +0000
The average price of a Canadian resale home has risen by more than 15 per cent in the year up to October, the Canadian Real Estate Association said Monday. The group that represents more than 130,000 real estate agents across Canada said that last month was the busiest October ever for home sales, continuing a trend that started in May ... Read More
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Read moreA closer look at Canada’s off-the charts home sales activity in September
Published on Mon, 26 Oct 2020 13:51:21 +0000
By: Clayton Jarvis Last week, CREA released its housing data for September 2020, with the headline number being a nationwide year-over-year increase in sales of 45.6 percent. It’s a colossal figure, but one that makes little room for nuance. As many Mortgage Broker News readers are aware, there is no “Canadian housing market”, just a collection of distinct housing markets that happen ... Read More
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