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Showing posts from July, 2017

Don’t announce your vacation plans.

While it is tempting to let the world know you are taking a well-deserved trip, keep in mind that sharing too much information on social media or in emails can alert potential thieves.

Canada Mortgage and Housing Corp. is already anticipating a shift in the Toronto housing market

CMHC chief economist Bob Dugan told reporters that strong job creation and income growth in Toronto favour the housing market. He expects price growth to resume in the city.

Strong evidence of overall problematic conditions continue for Canada, Toronto, Vancouver, Hamilton and Victoria

July 26, 2017
by via CMHC News Releases — All Releases

As the global economy has improved, interest rates are going up.

Canada's economy is no exception. With economic growth running above 3%, the Bank of Canada raised its interest rate earlier this month. Other interest rates are slowly edging upward. Households with mortgages and other loans will have less disposable income for consumption as they meet rising payments, which could affect businesses' revenues. At the same time, the higher cost of borrowing will not significantly affect many businesses directly as it is a small increase and their debt ratios are not elevated.

Vacancy tax

If there was a vacancy tax, the rental market would probably see an increase in supply, and there's also a chance that some investors may think twice about purchasing a new unit.

Resale market cools

According to the Toronto Real Estate Board (TREB), MLS-listed sales in the GTA in June were down more than 37% compared to June 2016 and nearly 40% down in the first 14 days of July.

Governments of Canada and Ontario support affordable housing in Central Ontario

July 25, 2017
by via CMHC News Releases — All Releases

The average selling price in Toronto was $566,513, whereas in the GTA it was $532,032.

According to a new report from the Toronto Real Estate Board (TREB), which looked at the GTA condo market during the second financial quarter (April to June) of 2017, the average selling price for condos has increased  a whopping 28 percent since last year.

Loonie gains almost 10% in 6 weeks

Canadian dollar tops 80 cents US for 1st time in 2 years.

It's supported by strong job market, retail sales and factories ramping up.

Construction begins for a new affordable housing project in Saskatoon

July 24, 2017
by via CMHC News Releases — All Releases

Seven per cent of residential real estate transactions in Toronto

The Ontario government released data that show foreign buyers were involved in seven per cent of residential real estate transactions in Toronto and nine per cent in York Region, a suburb north of the city, between April 24 and May 26, the month following the introduction of the foreign buyer tax.

Launch of the largest affordable housing construction project in Lévis

July 20, 2017
by via CMHC News Releases — All Releases

Rebuilding Fort McMurray: One Year Later

July 20, 2017
by via CMHC News Releases — All Releases

Most Canadians are familiar with Kanetix Ltd. as the place to go for online insurance quotes.

Basically, the website aggregates quotes from different insurance companies and provides the comparison shopping directly to the consumer without them needing a broker.

A report from the Fraser Institute reveals Toronto has the highest hydro rates across Canada

Electricity prices in Ontario have increased twice as fast as the national average over the past decade.

Improving the look of your kitchen or bathroom

If you plan on putting your home on the market, you obviously want it to look as attractive as possible to potential buyers. Improving the look of your kitchen or bathroom is a great place to start.

Canadian mortgages are structured with 25-year amortization schedules but 5-year terms.

This means that Canadian home owners must get a new mortgage every five years, and are susceptible to interest rate increases.

Vigilance required despite positive trends in mortgage and consumer credit

July 18, 2017
by via CMHC News Releases — All Releases

The Canadian dollar reached a 14-month high Friday

The Canadian dollar reached a 14-month high Friday after the Bank of Canada raised rates by a quarter-point this week and left investors anticipating further hikes.

Housing imbalances in Canada

The International Monetary Fund said on Thursday that while Canada's economy has regained momentum, housing imbalances have increased and uncertainty surrounding trade negotiations with the United States could hurt the recovery.

Data from the Toronto Real Estate Board show sales plunged 37.3 per cent in the GTA in June compared with the same month last year.

New listings last month jumped 15.9 per cent from June, 2016.

This week, the Bank of Canada hiked interest rates for the first time in seven years when it lifted its benchmark rate by 25 basis points to 0.75 per cent.

The move was widely expected by financial markets.

The Bank of Canada raised interest rates for the first time since 2010

It is the strongest for the Canadian Dollar since Aug 2016.

Foreign buyers were involved in nine per cent of real estate transactions in York Region

Of 1,974 total real estate transactions in York Region — a suburb north of Toronto that includes the cities of Markham and Vaughan — 180 involved foreign buyers between April 24 and May 26, the province's preliminary data found.

In Toronto foreign buyers bought 7.2 per cent of the properties sold during that period.

Governments of Canada and Ontario celebrate affordable housing in northeastern Ontario

July 13, 2017
by via CMHC News Releases — All Releases

Bank of Canada raises interest rates

The Bank of Canada raised its overnight lending rate to 0.75 per cent from 0.5 per cent Wednesday, citing "bolstered" confidence that the Canadian economy has finally getting better.

Higher interest rates send mortgage applications falling.

Higher interest rates send mortgage applications falling.

Government of Canada creates new homes for Sagamok Anishnawbek elders in Massey

July 11, 2017
by via CMHC News Releases — All Releases

Market bubbles have occurred across the globe and throughout history.

An asset bubble is characterized by a wave of optimism that lifts prices beyond levels warranted by fundamentals and ends in a crash.

Amazon Prime Free Trials

Canadian housing starts trend increased in June

July 11, 2017
by via CMHC News Releases — All Releases

Governments of Canada and Ontario celebrate affordable housing in Northumberland County and Quinte West

July 10, 2017
by via CMHC News Releases — All Releases

Are you really richer than you think?

Many Canadians don't understand how precarious their finances truly are, especially as ballooning home prices and a stable economy make people feel wealthy.

A risk to the Canadian housing market

Canadian households carry significant debt burdens.

The Bank of Canada's expected rate hike could also pose a risk to the Canadian housing market.

The Canadian dollar was worth 77.61 cents US on Friday after rising by slightly more than 0.6 of a cent.

The Canadian dollar was worth 77.61 cents US on Friday after rising by slightly more than 0.6 of a cent.

Bank of Canada could raise its benchmark overnight rate

Possibly as soon as next Wednesday.

Affordable rental housing project opens in Weyburn

July 7, 2017
by via CMHC News Releases — All Releases

Groundbreaking for affordable seniors housing in Raymond

July 06, 2017
by via CMHC News Releases — All Releases

Governments invest in seniors housing in the North

July 6, 2017
by via CMHC News Releases — All Releases

Carmacks and Watson Lake receive funding to support affordable housing needs

July 05, 2017
by via CMHC News Releases — All Releases

New data reveals ownership of rental housing and highlights differences among major Canadian markets

July 5, 2017
by via CMHC News Releases — All Releases