New home prices spike in May while sales slip following release of Ontario’s housing plan
Household debt increased in the third quarter but is lower than the previous estimate for quarter two.
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.