OSFI rejects Competition Bureau recommendation to drop mortgage stress test for lender switches
3/22/2024 | Posted in Government and Regulation by Jessi Sandhu
Canada’s banking regulator says it has no plans to remove the stress test on uninsured mortgages for borrowers who choose to switch lenders. ...
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New mortgage activity slowing - but debt continues rising, says CMHC
11/9/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Residential mortgage debt in Canada totalled $2.14 trillion as of August this year, up by 3.4% compared with the same month in 2022 as the value of uninsured mortgages outstanding ...
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Central bank qualifying rate used in mortgage stress tests falls
7/21/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu
The Bank of Canada's rate used by mortgage stress tests to determine whether would-be homeowners can qualify has dropped for the first time in three years. ...
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Price growth expectations and financial risk: top influences for homebuyers
6/13/2019 | Posted in Home Buyers by Jessi Sandhu
Three quarters of homebuyers in three of Canada's largest housing markets are not willing to take financial risks when buying a home, ...
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Canadian housing starts trend decreased in May
6/11/2019 | Posted in Canadian Housing Market by Jessi Sandhu
The trend in housing starts was 201,983 units in May 2019, compared to 205,717 units in April 2019, according to Canada Mortgage and Housing Corporation (CMHC). ...
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BoC touts long-term mortgages to open MBS market
5/9/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu
Bank of Canada Governor Stephen Poloz suggested that lenders should encourage mortgage products with longer terms as a means of distributing risk more evenly and insulating the ...
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Canada's housing market still 'vulnerable' even as Toronto valuations cool, says CMHC
2/8/2019 | Posted in Canadian Housing Market by Jessi Sandhu
The country’s overall real estate market remains “vulnerable” despite an easing in overvaluation in cities like Toronto and Victoria in the third quarter, ...
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12/17/2018 | Posted in Canadian Economy and Housing Market by Jessi Sandhu
The prospect of interest rate hikes is particularly daunting for residents of Toronto and Vancouver—two cities with debt levels well above the national average. ...
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Rental vacancy rate dips to 2.4% across Canada, CMHC says
11/28/2018 | Posted in Rental Market by Jessi Sandhu
Canada added 37,000 apartments this year, but demand rose by even more to 50,000 units. ...
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There were fewer new mortgages in 2017 CMHC data shows
8/15/2018 | Posted in Mortgages and Real Estate by Jessi Sandhu
There was a slight decline in the volume of new mortgage loans in 2017 according to an analysis of consumer credit data from CMHC. ...
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CMHC makes announcement regarding self-employed borrowers
7/19/2018 | Posted in Home Buyers by Jessi Sandhu
Canada Mortgage and Housing Corp. is making changes intended to make it easier for the self-employed to qualify for a mortgage ...
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Canadian Housing Starts Trend Stable in March
4/10/2018 | Posted in Canadian Housing Market by Jessi Sandhu
The trend in housing starts was 226,842 units in March 2018, compared to 225,804 units in February 2018, according to Canada Mortgage and Housing Corporation (CMHC). This ...
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Housing supply-demand gap largest in Toronto and Vancouver, says CHMC
3/9/2018 | Posted in Canadian Housing Market by Jessi Sandhu
Toronto and Vancouver’s real estate markets have responded to surging prices and a growing demand for homes with a supply of new housing that is “significantly weaker ...
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Canadian Housing Starts Trend Stable in December
1/9/2018 | Posted in Canadian Housing Market by Jessi Sandhu
The trend in housing starts was 226,777 units in December 2017, compared to 226,178 units in November 2017, according to Canada Mortgage and Housing Corporation (CMHC). This trend ...
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Canadian housing market headlines you're likely to see in 2018
1/1/2018 | Posted in Canadian Housing Market by Jessi Sandhu
The Canadian real estate market made headlines plenty of times in 2017 — but what does next year have in store? Will housing prices and affordability continue to dominate ...
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Housing starts near 10-year high on Toronto condo boom
12/10/2017 | Posted in New Developments by Jessi Sandhu
Canada Mortgage and Housing Corp. says the pace of housing starts picked up in November, with condo building in Toronto driving the trend. ...
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CMHC takes aim at shadow lenders amid rising debt levels
11/16/2017 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada’s housing agency is seeking more data on home loans from shadow lenders, amid concern rising levels of debt aren’t being adequately tracked and may increase the ...
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8 in 10 mortgage holders have high credit scores
10/2/2017 | Posted in Mortgages and Real Estate by Jessi Sandhu
Individuals who take out a mortgage tend to have higher credit scores, according to a recent report by the Canada Mortgage Housing Corporation. ...
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Canada's central bank acts to defuse housing market threat
6/15/2017 | Posted in Mortgage News by Jessi Sandhu
Canada's central bank, which had long said interest rates are too blunt a tool to tackle the country's housing market, may have finally decided to act and at least limit ...
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Mortgage delinquency rates low in Toronto, Vancouver despite high prices: CMHC
6/14/2017 | Posted in Mortgages and Real Estate by Jessi Sandhu
Mortgage delinquency rates were low in Toronto and Vancouver during the fourth quarter of 2016, despite hot housing markets that have sent prices soaring, according to a new ...
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Canada housing starts jump to highest in almost a decade, beating expectations
4/10/2017 | Posted in Real Estate News by Jessi Sandhu
The annual pace of housing starts increased more than expected in March and hit their highest level since September 2007. The Canada Mortgage ...
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CMHC mortgage insurance hike scheduled for this month
3/8/2017 | Posted in Mortgages and Real Estate by Jessi Sandhu
The Canada Mortgage and Housing Corp. has announced that it will be implementing a hike on the premiums on its insured loans, with the increases calculated based on down payments ...
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New home construction picks up, offering latest evidence of economic momentum
3/8/2017 | Posted in Real Estate News by Jessi Sandhu
The pace of home construction in Canada picked up last month and a lot of the push came from Ontario, the federal housing agency said Wednesday, offering the latest evidence that ...
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CMHC reports annual pace of housing starts in Canada picks up in December
1/10/2017 | Posted in New Developments by Jessi Sandhu
Canada Mortgage and Housing Corp. says the seasonally adjusted annual pace of housing starts in December came in at 207,041 units, up from 187,273 in November. ...
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Foreign ownership of Canadian condos down from 2015: CMHC
12/7/2016 | Posted in Real Estate News by Jessi Sandhu
Foreign ownership of existing Canadian condominium units in Canada's three biggest cities has declined in 2016 compared with the previous two years, according to a ...
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CMHC insured mortgages increase 26 per cent, home equity rises
11/30/2016 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada Mortgage and Housing Corp., the Crown corporation that controls about half of the mortgage default insurance market in the country, continues to shrink its ...
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Higher down payments could be on horizon: CMHC
11/26/2016 | Posted in Home Buyers by Jessi Sandhu
The head of Canada Mortgage and Housing Corp. has opened the door to the possibility of increasing the minimum down payment needed to buy a house, though a change is not currently ...
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CMHC passes stress test extreme scenarios
11/17/2016 | Posted in Mortgage News by Jessi Sandhu
Canada Mortgage and Housing Corp. says its stress testing shows it will be able to withstand even the most extreme economic scenarios. ...
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Pace of housing starts slips in October compared with September: CMHC
11/8/2016 | Posted in Real Estate News by Jessi Sandhu
Canada Mortgage and Housing Corp. says the pace of housing starts in October slowed compared with September. ...
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CMHC warns high house prices spreading to B.C., Ontario suburbs
10/27/2016 | Posted in Real Estate Market by Jessi Sandhu
Canada’s housing agency is warning that prices are soaring in smaller communities in British Columbia and Ontario as the real estate boom in Vancouver and Toronto spreads ...
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