Pricy properties hit the market following last month’s Ontario mortgage plan
A higher number of homebuyers are turning to alternative lenders as the big banks have tightened restrictions on mortgages.
The Bloomberg Nanos Canadian Confidence Index has fallen to its lowest figure for 10 months.
Finance ministers are asking Ottawa to give them more help with costs of roads and transit improvements.
Finance Minister Joe Oliver, who is currently in meetings with his provincial finance minister counterparts, has said the government may take steps to rein in an overvalued housing market.
The Canadian Real Estate Association (CREA) has upwardly revised its forecast for annual housing sales in 2014 and 2015, projecting 481,300 units in 2014 – an annual increase of 5.1 per cent and the strongest annual sales since 2007.
A number of mortgage and title insurers signed a letter of intent Friday to formalize their commitment to launching a new industry association.
CMHC is to triple the charges it makes to some financial institutions.
House prices were down by 0.3 per cent nationwide in November with cooler conditions even blowing through Calgary and Toronto.
The Canada Mortgage and Housing Corporation is cutting 215 jobs at its head office in Ottawa and regional offices.
Most economists forecast that the first interest rate rise will be in the second half of 2015, possibly in the fall.