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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

The post Why are home prices higher in Canada than in the US? appeared first on Mortgage Talk Canada.

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

The post Canadian Mortgage-Rate Forecast for 2021 appeared first on Mortgage Talk Canada.

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

The post Windsor’s average property price has increased by more than $80,000 since last November appeared first on Mortgage Talk Canada.

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

The post Home sales slowed in October but average price up 15% in past year, CREA says appeared first on Mortgage Talk Canada.

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

The post A closer look at Canada’s off-the charts home sales activity in September appeared first on Mortgage Talk Canada.

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

The post Franco Greco on what it takes to handle times of crisis appeared first on Mortgage Talk Canada.

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

The post Moody’s: Significantly lower home prices expected in several Canadian markets appeared first on Mortgage Talk Canada.

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

The post Bank of Canada Confirms Ultra-Low Mortgage Rates Are Here to Stay appeared first on Mortgage Talk Canada.

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

The post CMHC says impact of pandemic is starting to emerge appeared first on Mortgage Talk Canada.

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

The post Properly offers “buy now, sell later” program for home shoppers appeared first on Mortgage Talk Canada.