The B-20 mortgage guidelines continue to be cited by Realtors for falling home sales and there have been countless calls for them to be changed or scrapped.
The association that represents more than 11,000 Canadian mortgage professionals says that Ottawa’s policies have harmed the housing market.
Housing markets in big Canadian cities are heading towards stability this year — not a crash — and while that’s good news for the economy at large, homebuyer hopefuls looking for more affordable options will be disappointed.
A growing number of Canadians are finding it difficult to pay off their financial accountabilities, according to a report by the Office of the Superintendent of Bankruptcy late last week.
rtgage Professionals Canada has renewed calls for changes to the federal government’s stress tests, arguing they pose serious risk to the housing market and overall economy.
Data from the Office of the Superintendent of Financial Institutions indicated intensified borrowing among Canadian seniors taking advantage of their housing equity, with growth of the nation’s reverse mortgage load reaching its highest point in 8 years.
Based on a leading indicator for where home prices are headed, an economic-research firm is predicting a booming year for one of Canada’s largest housing markets.
The Canadian housing market’s performance has been even worse than TD expected, but there are multiple reasons one of Canada’s biggest banks doesn’t predict “a further sustained deterioration” — or worse — this year.
Canada’s home prices increased 4% year-over-year in the fourth quarter of 2018, a sign of the market recovering from “the most significant housing correction” since the financial crisis.
The Bank of Canada has stepped to the sidelines since it last hiked the overnight rate, which influences rates on the mortgage market, this past October.
By one measure, conditions in Canada are reminiscent of those present in the US right before a stateside housing bubble burst, yet a repeat performance to the north is unlikely.
The governor of the Bank of Canada suggests it won’t be long before the country’s housing market has bounced back and starts growing once again.
The first full month of spring saw homebuilding activity in Canada surprise housing market analysts with a show of strength, suggesting the Canadian market might be on the upswing once more.
The stress test continues to be the focus of much research, with new data released recently on the full extent of its impacts on the housing market.
Most borrowers inherently know that having a better credit score means you have access to better mortgage rates.
The latest reading of Canada’s economy brings both good and bad news for the housing market.
Investment in homebuilding remains strong in Canada on the shoulders of continued demand for condos as a few key demographic groups all try to climb onto the property ladder, new analysis suggests.
A pre-approved mortgage provides an interest rate guarantee from a lender for a specified period of time (usually up to 120 days) and for a set amount of money.
To determine ‘affordability’ you will first need to know your taxable income along with the amount of any debt outstanding and their monthly payments.
The Bank of Canada won’t be hiking its policy rate any time soon, says one economist — and that should be welcome news for mortgage borrowers with variable rates.
Canada’s historic household debt levels will almost certainly affect banks and the GDP, according to a long-time markets observer.
NEWSLETTER SIGN UP
- Office:141 Torbay Road, NL
- Direct:(709) 770-9194
- Fax:(709) 754-0466