Nunavut runs short of housing budget, finance minister claims
Nunavut Finance minister Keith Peterson included housing funds as one of his federal budget wishes for the territory this week, but money for new homes appeared to be nowhere the budget’s priorities.
Budget says demand for credit stable among Canadians
Despite the record levels of household debt last quarter, Ottawa has showed that Canadians’ appetite demand for credit has stabilized, thanks to home ownership.
Home sales and prices up in Canada for March
Canada’s home sales have jumped by 4.1% from February to March, with the average housing price also rising but “slewed” by growth in Toronto and Vancouver.
Canada’s housing market overvalued 35%
The Economist magazine has surveyed housing costs around the globe and found that Canada’s housing prices are overvalued by 35 per cent when side by side with Canadian incomes.
Edmonton housing market remains strong
Edmonton’s housing market showcases strong growth amid uncertainties in its energy sector, a study by Royal LePage has revealed.
One third of Canadians understand home loans
Only 33 per cent Canadian homeowners admit that they have read their entire mortgage agreement, a recent study by Scotiabank has revealed. Worse, only 27 per cent fully understood the details of their home loans.
Halifax house prices; modest increase
Halifax has had a modest increase in its housing prices for the first three months of 2015, new data from Royal LePage has revealed.
IMF warns of housing bubble as rates fall
The International Monetary Fund (IMF) has expressed concerns over the prevailing low mortgage rates in Canada, warning that a housing bubble could transpire. Its latest World Economic Outlook also dropped its expected economic growth for the country from this year to 2016.
Resale home prices up 4.7%, Teranet study says
The latest Teranet housing index has found Canadian resale home prices to be up 4.7 per cent across Canada in March, showing a strong beginning to the spring house-buying season.
How much can you afford to borrow?
So you want to buy a house – congratulations! But, unless you can pay for the entire property in cash, getting the keys to your own place is going to be a long road, and it’ll start with getting a mortgage.