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Banking regulator working with lenders to stamp out ultra-long mortgages

9/27/2023 | Posted in Mortgage News by Jessi Sandhu

Canadian banks have approximately $250 billion in mortgages with repayment terms set at 35 years or longer

... More

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Housing affordability has improved but there's no quick fix, says RBC

9/29/2023 | Posted in Canada Living by Jessi Sandhu

Millions of Canadians want to achieve their dream of homeownership, but affordability remains out of reach for many, and changing that will be a slow journey according to ... More

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Latest in mortgage news: Mortgage rates keep surging higher

9/29/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu

Mortgage providers across the country have been busy raising rates over the past week, and it could continue next week with as bond yields continue to rise.

... More

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Fixed mortgage rates expected to surge as bond yields reach 16-year high

9/22/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu

Fixed mortgage rates could surge higher in the coming week after Government of Canada bond yields—which lead fixed mortgage rates—shot up to a 16-year-high.

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GTA new home sales activity hovers near-record lows

9/22/2023 | Posted in New Developments by Jessi Sandhu

August activity at more than 60% below the region's 10-year average sales level

... More

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Canadian housing costs have hit 30-year high, StatCan data shows

9/19/2023 | Posted in Canada Living by Jessi Sandhu

Canadians are paying more for housing as of August 2023 than in the past three decades, Statistics Canada data shows.

... More

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Council votes to permit multiplexes in all Toronto neighbourhoods

9/19/2023 | Posted in Toronto Real Estate by Jessi Sandhu

Multiplexes will now be permitted to be built across Toronto after being approved by councillors on Wednesday in a bid to create more housing options.

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Canadian Home Sales Fall Back in August

9/15/2023 | Posted in Canadian Housing Market by Jessi Sandhu

Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were down on a month-over-month basis in August 2023.

... More

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Mortgage interest costs now up over 80% since the start of the BoC's rate hikes

9/14/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu

Canadian mortgage borrowers continued to see their interest costs climb in the second quarter, which have now soared over 80% since the Bank of Canada started raising interest ... More

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Investors have increased their share of mortgaged homebuyers

9/12/2023 | Posted in Real Estate Investments by Jessi Sandhu

Investors in Canada’s residential real estate market accounted for a larger share of mortgaged purchases than repeat homebuyers in recent years despite rising interest ... More

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OSFI seeks to address problem of fixed-payment variable-rate mortgages

9/8/2023 | Posted in Home Buyers by Jessi Sandhu

It’s no secret that Canada’s banking regulator has its sights set on fixed-payment variable-rate mortgage products. And OSFI chief Peter Routledge reiterated that ... More

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Bank of Canada holds key rate steady at 5 per cent, says economy is weakening

9/6/2023 | Posted in Interest Rates by Jessi Sandhu

The Bank of Canada held its key interest rate steady at five per cent today, citing recent evidence that suggests the economy is weakening.

... More

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Higher Borrowing Costs Continue to Impact Housing Market in August

9/6/2023 | Posted in GTA Real Estate by Jessi Sandhu

Higher borrowing costs, continued uncertainty about the economy and Bank of Canada decision making, and the constrained supply of listings resulted in fewer home sales in ... More

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Toronto housing market would stay unaffordable even in deep recession: report

9/5/2023 | Posted in Toronto Real Estate by Jessi Sandhu

Housing affordability in Toronto would remain strained even in the event of a deep economic recession, a new Desjardins analysis has found, highlighting the challenge ahead in ... More

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Economists see Bank of Canada holding on rates after surprise GDP contraction

9/1/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

Economists say the latest GDP data from Statistics Canada showing a contraction in the economy suggests the Bank of Canada's rate hiking campaign may be coming to an ... More

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Household debt levels set new record high in Q2

9/4/2023 | Posted in Financial Health by Jessi Sandhu

Higher living costs are pushing more and more Canadians into debt, according to a new report.

... More

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Sustained low interest rates no longer possible, says former BoC governor

9/4/2023 | Posted in Interest Rates by Jessi Sandhu

This is despite a projected slight drop in the BoC’s policy rate by the end of 2024 or early 2025

... More

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No end in sight to housing affordability crisis, says BMO's Guatieri

8/28/2023 | Posted in Canadian Housing Market by Jessi Sandhu

The Bank of Canada's June and July interest rate increases essentially put a stop to the housing market’s recovery, says analyst.

... More

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What's next for home prices in Canada?

8/28/2023 | Posted in Canadian Housing Market by Jessi Sandhu

Interest rates and borrowing costs may be surging - but Canadian home prices are continuing to rise at a rapid clip, according to new data.

... More

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GTA condo sales down 51% from 2022 levels: BILD

8/24/2023 | Posted in GTA Real Estate by Jessi Sandhu

Single-family home sales up 11% this year, but can't make up for condo sales decline, July report states.

... More

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Fixed rates back as top mortgage product of choice: National Bank

8/23/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu

Despite interest rates potentially being at or near a peak, borrowers aren’t betting on rate cuts anytime soon.

... More

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Detached home prices declined in all but four of Toronto's neighbourhoods last quarter: report

8/22/2023 | Posted in GTA Real Estate by Jessi Sandhu

Fuelled by a drop in prices, there was a “short burst of home-buying activity” in the Greater Toronto Area (GTA) during this year’s second quarter, but it was ... More

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1 in 5 homebuilders are nixing projects amid high rates. Here are your rights

8/18/2023 | Posted in New Developments by Jessi Sandhu

Many Canadian homebuyers waiting patiently for construction to finish on their pre-sale unit are being met with cancellation notices from developers. The building environment ... More

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Real estate report: Second highest home price increase ever recorded in a single month

8/18/2023 | Posted in Real Estate Market by Jessi Sandhu

Home prices posted the second-highest increase ever recorded in a single month after the one observed in July 2006, according to the latest Teranet-National Bank composite ... More

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Office vacancy rate could peak in 2024 as hybrid work models gain popularity: report

8/15/2023 | Posted in Commercial Real Estate by Jessi Sandhu

A new report by Colliers Canada predicts the national office vacancy rate could peak at approximately 15 per cent by the end of 2024 as the rise of hybrid work models prompt ... More

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