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.
Kelowna's housing starts remain steady
The latest report from the Canada Mortgage and Housing Corporation (CMHC) has revealed Kelowna’s housing starts remain steady, with 1,417 units in March compared to February’s 1,456 units.
Credit union launches 1.49% mortgage rate
Ontario residents may take advantage of the “lowest known posted mortgage rate in Canadian history” after credit union Meridian announced an interest rate of 1.49%.
Saskatoon housing starts up for March
The Canada Mortgage and Housing Corporation (CMHC) has revealed a surge in Saskatoon’s housing starts for March, a sign that the area’s real estate investing is booming as “a lot more units have been initiated on a year-over-year basis.”
Oshawa suffers slight dip in housing starts
Oshawa has recorded a dip in its housing starts from 1,908 in February to 1,706 last month, according to the Canada Mortgage and Housing Corporation (CMHC).
Study claims first homebuyers are 'responsible, well-educated'
Genworth Canada has found first-time homebuyers to be “responsible” in their financial decisions and real estate investing as they enter the housing market, stating that they are “doing their homework.”
Toronto, Vancouver exhibit strong housing sales
The housing markets of Toronto and Vancouver are showing impressive strengths as sales jump dramatically for both areas.
CMHC increases mortgage insurance premium
Canadian borrowers with $250,000 in home loan and less than 10 per cent in down payment may be facing an extra $5.20 per month, after the Canada Mortgage and Housing Corp. (CMHC) raised its mortgage insurance premium.