Canadians have made their apprehension concerning the housing market known ahead of next week’s federal budget.
There have been plenty of deterrents for Canadian first-time home buyers this year, from stricter mortgage qualification rules rolled out in January to three interest rates hikes throughout the year. But according to a new survey, the majority haven’t given up on the dream of homeownership.
A sustained elevation in residential prices has slowed down new townhouse sales in Canada’s top markets, according to the latest market analysis by the Altus Group.
This has become especially evident in markets where significant numbers of buyers are moving away from single-detached properties due to these assets’ pricing.
A chain of possible mortgage rate increases in the very near future might endanger Canadian would-be home buyers’ purchasing power – and ultimately, their mortgage capacity, according to the Canada Mortgage and Housing Corporation.
The Bank of Canada has been hiking interest rates all year, and Canada’s big banks have been raising mortgage rates accordingly. The result? A nationwide deterioration in housing affordability, according to a new report from Desjardins.
The Canadian housing market will see activity moderate over the next two years, according to the latest forecast from the Canada Mortgage and Housing Corporation (CMHC).
The federal housing organization is predicting a flattening of sales and prices in 2019, with the average national home sale price coming in somewhere between $501,400 and $521,600.
A quarter of Canadians are in subprime or near-prime credit categories, which is adding to their fears of checking their credit score.
While 96% say they believe a good credit score is important, just 41% know theirs according to a Leger poll for Refresh Financial, a FinTech which helps Canadians with their credit history.
Canadian homebuyers are increasingly looking for cheap alternatives to the pricey Toronto housing market. One contender that has emerged in recent months? Ottawa, which has seen activity gain momentum throughout 2018.
A series of policy changes has cooled Canadian home price growth, while eating into the budgets of would-be homebuyers. How is this affecting housing activity this month? Livabl has rounded up the latest industry commentary to keep you in the know.
The Canadian housing market hasn’t provided much of a boost to the country’s economy in 2018 and, according to one bank, it’s a trend that will likely continue in the new year.
Housing starts have been slowing in recent months, which CIBC economist Royce Mendes believes is a sign that the market will exert a drag on the Canadian economy in 2019.
Despite rising housing costs, eight out of ten young, urban families in Canada’s key metropolitan areas would prefer to live in a detached single family home if money was no object. This was one of the main highlights in a recent report released by Mustel Group and Sotheby’s International Realty Canada on home ownership trends among modern families.
The third quarter of 2018 brought some warmth to the Canadian housing market, as both sales and prices began to inch upwards after months of
Canada’s housing affordability is at its worst level since 1990 and its going to get worse. A newly report from RBC Economic Research shows that