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Franco Greco on what it takes to handle times of crisis

Published on Wed, 14 Oct 2020 15:59:35 +0000

By: Ephraim Vecina Franco Greco, senior vice president of loan origination and business development at NewDay, pointed to the robust fundamentals that comes from eight years of industry experience as what helped him manage his company across the challenges of 2020 – which includes the impact of the ongoing COVID-19 pandemic. Steering one of North America’s leading mortgage lenders focused ... Read More

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Moody’s: Significantly lower home prices expected in several Canadian markets

Published on Fri, 25 Sep 2020 14:47:39 +0000

By: Ephraim Vecina While federal financial aid and mortgage deferrals have propelled some price growth recently, it will be only a matter of time before the full negative impact of the COVID-19 pandemic works its way through the housing market, according to a new report by Moody’s Analytics. In its newest Canada Housing Market Outlook, Moody’s said that the housing market’s ... Read More

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Bank of Canada Confirms Ultra-Low Mortgage Rates Are Here to Stay

Published on Fri, 18 Sep 2020 13:14:43 +0000

By David Larock Last Wednesday the Bank of Canada (BoC) announced that it would hold its policy rate steady, as was universally expected. In its policy statement, the Bank offered an updated assessment of the state of our recovery, and, by association, indicated where our mortgage rates are likely headed over the short and medium term. Let’s start with a quick review ... Read More

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CMHC says impact of pandemic is starting to emerge

Published on Mon, 31 Aug 2020 13:42:42 +0000

But the crown corporation says it is well-placed to deal with the increase in insurance claims By Steve Randall The Canadian housing market has shown incredible resilience despite the challenges of the pandemic but the impact on homeowners will only become clear in the months ahead. As government support programs come to an end, there are concerns that mortgage defaults may increase as ... Read More

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Properly offers “buy now, sell later” program for home shoppers

Published on Mon, 24 Aug 2020 13:30:47 +0000

by Ephraim Vecina Real estate technology firm Properly is offering homeowners who are looking to change properties the opportunity to buy first, and then sell their old homes later at a guaranteed price. The program, a cooperative venture with the Canadian Imperial Bank of Commerce, will be initially available only in Toronto, although an Ottawa roll-out is also in the works. ... Read More

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What can Canadians expect when CERB becomes EI?

Published on Mon, 17 Aug 2020 14:03:47 +0000

by Clayton Jarvis There were few fireworks on July 31, when Prime Minister Justin Trudeau announced that out-of-work Canadians who have been receiving the Canada Emergency Response Benefit due to COVID-19-related job disruption would be transitioned to the country’s employment insurance program this fall. CERB is set to expire on September 26, but anyone who began receiving payments once the program got underway ... Read More

The post What can Canadians expect when CERB becomes EI? appeared first on Mortgage Talk Canada.

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Even amid pandemic, the northern housing market is hotter than ever, say realtors

Published on Mon, 10 Aug 2020 14:22:30 +0000

The real estate market has an ever-rising temperature despite doomsday predictions By: John Last, Katie Toth When Vanessa Thorson bought her duplex in Whitehorse’s Takhini neighbourhood in 2015, it cost her just $285,000. Three years later, she moved to Alberta and sold it for $305,000. But when she returned just 18 months later, in the fall of 2019, she says ... Read More

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As deferral programs end, a reverse mortgage can help

Published on Tue, 04 Aug 2020 13:45:40 +0000

by Kasi Johnston When the COVID-19 pandemic first hit back in March, Canada’s big banks announced that clients affected by the coronavirus crisis would have the option to defer their mortgage payments for up to six months. Lenders across the country soon followed suit, offering their own mortgage payment deferral programs. Depending on which plan the borrower entered into, that ... Read More

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Small town realtor says COVID-19 may have city dwellers looking for wider, open spaces

Published on Mon, 20 Jul 2020 15:03:36 +0000

It seems small town real estate is doing well, and two of the attractions are more space and less COVID-19. By: Terri Trembath Jennifer Handley is a real estate agent in Nanton, a town about an hour drive south of Calgary. She is also the town’s mayor. According to her, the Nanton housing market is hot right now. “We haven’t ... Read More

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CK home sales bounce back with higher prices

Published on Mon, 13 Jul 2020 13:29:45 +0000

By Natalia Vega Home sales in Chatham-Kent are heating up as the industry starts to recover from the COVID-19 pandemic. The Chatham-Kent Association of Realtors reports that 127 homes were sold in June, which is only one fewer sale than the same time last year. On a year-to-date basis, 554 homes were sold in the first six months of 2020, a ... Read More

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Canadian Farm News
Ag industry reacts to gov’t funding

Federal and provincial agricultural and commodity organizations send a clear message that the aid announced falls short of what is needed to help t