6 Mar

Bank Of Canada Holds Interest Rate, Warns Of ‘Significant Uncertainties’

General

Posted by: John Dunford

OTTAWA – The Bank of Canada is holding its trend-setting interest rate at 0.5 per cent but it’s keeping a watchful eye on “significant uncertainties” that it warns could alter the economy’s improving trajectory. The central bank’s scheduled rate announcement Wednesday arrived as Canada tries to assess the direction of U.S. economic policy under President […]

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17 Feb

Big Bank Increasingly Bearish

General

Posted by: John Dunford

Well, this may be the first time in recent memory a big bank economist has used the feared B-word in relation to real estate. Bubble. Get news stories like this straight to your inbox with our FREE newsletter “Let’s drop the pretence. The Toronto housing market—and the many cities surrounding it—are in a housing bubble,” […]

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7 Feb

Association Provides Government With Housing Recommendations

General

Posted by: John Dunford

The industry has provided its recommendations to the government committee that is studying the Canadian real estate market and the issues facing it. The Canadian Mortgage Brokers Association sent a letter to the Standing Committee of Finance, advocating for changes that would lessen the burden on Canadians wanting to purchase homes. “It goes without saying […]

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1 Feb

Mortgage Changes Have Hit First-Timers Genworth Chief Tells Lawmakers

General

Posted by: John Dunford

Recent changes to mortgage regulations have negatively impacted first-time buyers and there should be a pause on further measures, the CEO of Genworth said Monday. Stuart Levings was appearing as a witness at the Standing Committee of the Finance Department as part of its study of the Canadian Real Estate Market and Home Ownership. He said […]

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28 Jan

Strong Evidence Of Problematic Conditions Persists In Real Estate Market: CMHC

General

Posted by: John Dunford

Canada’s federal housing agency says strong evidence of problematic conditions continues to exist in the national housing market. Canada Mortgage and Housing Corporation says the most prevalent issues it has observed in the 15 markets it monitors are overbuilding and overvaluation, which occurs when house prices outpace economic fundamentals such as income and population growth. […]

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19 Jan

Mortgage Insurance Premiums Hiked Once Again

General

Posted by: John Dunford

CMHC announced early Tuesday it is increasing its loan insurance premiums effective March 17. “We do not expect the higher premiums to have a significant impact on the ability of Canadians to buy a home,” said Steven Mennill, Senior Vice-President, Insurance. “Overall, the changes will preserve competition in the mortgage loan insurance industry and contribute to […]

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17 Jan

Morneau Rules Out More Housing Measures For Now

General

Posted by: John Dunford

Ottawa will continue to monitor the housing market but is not planning to introduce any further measures for now. That was the message from federal finance minister Bill Morneau when he met with private sector economists Friday and later spoke to journalists. CBC News reports that the minister said the government is keeping an eye on risks […]

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11 Jan

Insight Into The Future Of Mortgage Rates

General

Posted by: John Dunford

by Justin da Rosa | 10 Jan 2017   With the release of the Bank of Canada’s most recent Business Outlook Survey came insights into the central bank’s policy position – and, indeed, the future of its benchmark rate. The outlook brought with it good news – but not enough to force the Bank of Canada to raise […]

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10 Jan

First-Time Buyers Delaying Due To Mortgage Rules

General

Posted by: John Dunford

The tightened mortgage rules introduced by the federal government last year are having a negative effect on the homebuying plans of first-time buyers. That’s the finding of a survey for the Ontario Real Estate Association by Ipsos Reid which says that 79 per cent of first-time buyers will delay buying due to the mortgage stress […]

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