CMHC raising rates for mortgage insurance, expects small impact Canada Mortgage and Housing Corp. is raising the rates it charges to insure mortgage loans by an average of 15 per cent. The federal agency said Friday that the new premiums will go into effect May 1 and apply to new mortgages, not those already insured. […]
Uncle Jim may ask CMHC to dig more money out of your pocket
Mortgage insurer CMHC primes market for announcement Canada Mortgage and Housing Corp., the Crown corporation that Finance Minister Jim Flaherty has been seeking to rein in, says it will be making an announcement later this week. Image Source The mortgage insurer, which appointed former investment banker Evan Siddall as its new chief executive officer at […]
Nonsense – Canadian Real Estate 10% Overvalued
TD Bank, IMF say Canadian real estate 10% overvalued CBC.ca The International Monetary Fund agrees, estimating Canada’s real estate is 10 per cent too expensive, according to an assessment of the Canadian economy released today. Affordability is falling as prices rise, but TD expects price hikes to slow Many experts and economists, from the OECD […]
Real estate: What $500K buys across Canada
Apparently you may be able to get real house for that kind of money if you have “insider contacts” in City of Toronto ? More city homes go up for sale, but you wouldn’t know it For sale signs, even MLS photos go missing on four latest offerings This week, four more Toronto Community Housing […]
GTA house prices on fire
Average GTA house price hits $547,107 as market starts to thaw Listings showing signs of picking up as prices continue to soar The Toronto real estate market is showing signs of stirring from its deep freeze, with new listings starting to pick up — and an almost 8 per cent spike in prices — as […]
Canada Seeks Soft Landing for Highflying Housing
Observers Say Market is Vulnerable to a Sharp Correction Yeah, right … Dream on. Minister Jim Flaherty scolded the country’s biggest banks for fueling record-high housing prices by cutting mortgage rates, his campaign to prevent a bubble is gaining traction. Aunt Jim scolding her banker girls … Canada’s fragile economy means the Bank of Canada […]