CREA fears home sales may drop this year
The Canadian Real Estate Association (CREA) predicts Canadian homes sales may drop by 1.1 per cent this year as oil prices decline and affect consumer confidence, particularly for 457,700 provincial units countrywide.
Yale lecturer warns of housing bubble
A Yale lecturer fears parents borrowing to help their first-time home buying children enter the property market is a risky scenario that may create a potential housing bubble.
BCREA foresees stable mortgage rates
The British Columbia Real Estate Association (BCREA) has expressed optimism that mortgage rates will remain at their historically low levels for most of this year, including one-year mortgage rates of 2.85%.
Canadians take on more debt
An economist from the University of Regina believes household debt has become a real concern due to lowered fixed interest rates for mortgages across Canada, which is encouraging more people to take on more debt.
Harper confident in Ottawa’s housing market
Prime Minister Stephen Harper has assured that there is no need for additional intervention as Ottawa is “closely watching developments in the still-hot housing market.”
Canadians take on more debt due to low-rate environment, study says
A new report by analysis firm TransUnion has revealed that Canadians have returned to their debt-loving ways last year and the behaviour is expected to prevail as low interest rates emerge.
Could Your Friend be a Bad Real Estate Agent?
Everyone has a friend with a real estate license, and while you may be tempted to use your friend’s services, it might be better to go with a real estate agent who you don’t have a personal relationship with. Here are five reasons your friend could make a bad agent.
BMO, TD lowers five-year fixed mortgage rates
The Bank of Montreal (BMO) has revealed it has lowered its five-year fixed mortgage rate to 2.79 per cent from 2.99 per cent effective immediately for its customers.
Expert believes recession may burst Canada’s housing bubble
Hilliard MacBeth, a financial adviser and book author, warns the Canadian housing market may moving toward its biggest crash ever thanks to soaring home prices.
New York-based expert likens Canada housing market to U.S.’ five years ago
A New York-based strategist claims Canada’s housing market today is similar to the U.S.’ five years ago, when it was “basically unsustainable”.