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Bank of Canada says changes to mortgage structure will not resolve housing affordability
MortgagesWednesday, November 6, 2024

Canada's housing affordability cannot be resolved by changing the country's unique mortgage structure, the Bank of Canada's Senior Deputy Governor said on Wednesday, as a wave of mortgage renewals over the next two years threaten to hurt the economy.

TRREB: Sales and Average Selling Price Increases in October
TREB NewsWednesday, November 6, 2024

Greater Toronto Area (GTA) home sales increased strongly year-over-year in October 2024. Over the same period, new listings were up, but by a lesser annual rate. The result was tighter market conditions compared to October 2023. The average selling price was up slightly on an annual basis.

Poilievre asks premiers to axe their sales taxes on new homes worth under $1 million
Single House New Build FramingMonday, November 4, 2024

Conservative Leader Pierre Poilievre has written to the provinces’ premiers, asking them to eliminate their sales taxes on new homes that are under $1 million.

CMHC says risks remain in mortgage market as delinquencies creep up
Mortgage Application FormMonday, November 4, 2024

Canada's housing agency says risks remain in the mortgage market as over a million contracts are up for renewal next year while a growing share of new mortgages are being issued by alternative lenders.

What you need to know before helping your child with a home down payment
Senior Couple Meeting AdvisorThursday, October 31, 2024

With the benchmark prices for a home in Toronto or Vancouver at over a million dollars, the prospect of saving enough for a down payment to enter the real estate market can be a daunting task for first-time buyers.

Fewer young Canadians own homes but majority planning to buy within five years: poll
Get Home Sold Real EstateTuesday, October 29, 2024

A new report says that while fewer young Canadians own a home compared with three years ago, a majority of millennials and Gen Z adults still plan to purchase one in the next five years.

New home sales in Toronto remain low in September despite interest rate cuts: report
Realtor showing homeMonday, October 28, 2024

New home sales in the Greater Toronto Area remained sluggish last month, but a new report suggests that the market is now primed for buyers following four consecutive interest rate cuts.

Here's why a mortgage broker thinks a 30-year amortization is a 'trap'
Home Buying Financing ConceptFriday, October 25, 2024

The federal government allowed 30-year mortgage amortizations for first-time homebuyers purchasing new builds in August, and the new rules are set to expand in December to everyone looking to buy a newly-constructed home.

Canadian homeowners consider switch to variable rate mortgages after big rate cut
Couple Managing DebtThursday, October 24, 2024

More Canadian homeowners are considering switching to variable rate from fixed rate mortgages after an unusually large interest rate cut by the central bank on Wednesday, mortgage brokers said.

BoC slashes interest rates by 50 basis points: What's next for CRE?
Modern Business BuildingWednesday, October 23, 2024

What does today’s 50 basis point interest rate cut mean for the Canadian commercial real estate market?

Bank of Canada slashes rates, says monetary policy has worked
Bank of Canada GovernorWednesday, October 23, 2024

The Bank of Canada on Wednesday reduced its key benchmark rate by 50 basis points to 3.75%, its first bigger-than-usual move in more than four years, and hailed signs the country has returned to an era of low inflation.

Toronto landlords who evict tenants to renovate could require renovation licence as early as next summer
Home RenovationWednesday, October 23, 2024

Landlords who plan to evict tenants to renovate their properties may soon be required to apply for a licence and provide additional financial compensation to the tenants they are displacing.

Five of six Canadian banks predict sharper rate cut as inflation slows
Big 6 Banks CanadaMonday, October 21, 2024

Five of Canada's biggest banks are now expecting a larger-than-usual interest rate cut from the Bank of Canada after inflation numbers came in lower than anticipated.

New condo sales in GTHA fall 81 per cent in third quarter of 2024: report
New Condos / New highrise condosFriday, October 18, 2024

New condo sales in the Greater Toronto and Hamilton Area are continuing to drop off, falling 81 per cent in the third quarter of 2024 compared to the same period last year, according to a new report by Urbanation.

Canadian Home Sales Edge Up Again Following Third Interest Rate Cut
CREA NewsTuesday, October 15, 2024

Following the Bank of Canada's third interest rate cut of the year, national home sales increased slightly in September compared to August. This follows a similar pattern of gains recorded in the months following the first two rate cuts.

Rate cut showdown: 25 or 50 bps? Economists split on Bank of Canada's next move
Mortgage Rates - Interest RatesFriday, October 11, 2024

Strong employment results for September have tempered Bank of Canada rate cut expectations for later this month.

Canada's 'sluggish' housing market in recovery mode following interest rate cuts, Royal LePage forecast predicts
Real Estate InformationThursday, October 10, 2024

Royal LePage’s latest housing market forecast predicts a real estate rebound that will see Canada’s “sluggish” markets in recovery mode by spring following a third straight interest rate cut.

Rate drops help boost housing affordability: RBC
Home BuyersWednesday, October 9, 2024

Interest rate cuts by the Bank of Canada in recent months have helped reduce ownership costs for homeowners and buyers and bring about a slight improvement in the overall housing outlook, according to a new analysis by Royal Bank of Canada (RBC) assistant chief economist Robert Hogue.

Feds launch mortgage refinancing program to boost secondary suites and ease housing crunch
Chrystia Freeland - Government of CanadaTuesday, October 8, 2024

The federal government is rolling out another set of mortgage changes aimed at addressing the housing shortage, this time focusing on supporting the construction of secondary suites.

Former Bank of Canada Official Sees Jumbo Rate Cut in October
business data reportingMonday, October 7, 2024

An ex-member of the Bank of Canada’s governing body said officials should cut borrowing costs by half a percentage point later this month.



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