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 […]
Low mortage rate revives fears of hard reckoning for Canada’s housing market
Low-rate pledge revives fears of hard reckoning for Canada’s housing market The federal government has tightened mortgage lending rules four times in the past five years in a bid to cool the market and prevent home buyers from taking on too much debt. Bank of Canada pessimism The lower economic outlook and stubbornly low inflation mean the Bank of Canada is likely to […]
Today Jim Flaherty is Hotter than Rob Ford
Why ? Because he says the free flow tap will remain open (perpetually). Which is a good thing … Folks, let’s all say Thank You, Santa Flaherty. Here is the story … Flaherty won’t clamp down on borrowing, but wary of home price increases CTV News – Oct 28, 2013 The latest measure, which came in July 2012, […]
Canadian homeowners carried nearly $1.2 trillion in mortgage debt last year
The high cost of home ownership In Metro Vancouver, home ownership absorbs 87 per cent of median household income, a Royal Bank report says. Ever wonder about the size of your neighbour’s mortgage? It’s a taboo topic, of course; people are pretty private about their debts. But the Canadian Federation of Municipalities is willing to […]
Many condo buyers could be bankrupted even before they get the key to their apartments
Condo buyers struggle to adjust to borrowing rule changes Recent changes to mortgage rules in Canada have left some condo buyers unable to afford their purchases, say professionals who are watching some clients struggle to hang on to their future homes.
Realty Market Is Destined To Boom Again
Because … U.S. Government Shutdown Driving Canadian Mortgage Rates Lower, For Now The Huffington Post Canada The U.S. government shutdown has had an interesting side effect for Canada: It has held out the promise of lower mortgage rates, and therefore a stronger housing market. Not that the housing market needs much help these days. Housing […]