By Canadian Mortgages Inc. It was the beginning of last month when bond prices plunged and RBC increased mortgage rates in response. Not too long after Scotiabank and TD followed suit. But while homeowners and home buyers are groaning about these higher mortgage rates, they’re not all bad. And in fact if you look at […]
Home Prices Have Gone Down ?
Lil Bird sends me this update … C2637560 – M2J – 95 PAINSWICK CRES Toronto, Ontario – $587,000 Price Change. Jul 4: $587,000 May 15: $598,000 Great Family Home Fully Renovated Prime Location With Potential For Income Rental. This All-Brick Home Has Combined Large Lr/Dr. Large Eat-In … C2637560 GoogleMap C2647832 – M6J – 36B SHANK […]
Canadians Are Potential Bankrupts: One In Ten Will Sink Like Titantic
Canada Housing Boom Took Household Debt To Ridiculous Levels Canada’s housing boom has pushed one in 10 families deep in debt Greg Quinn and Ilan Kolet, Bloomberg News The Bank of Canada, which calls households owing more than 250% of their gross income “highly indebted,” said last month that household imbalances remain the biggest domestic risk […]
Toronto Real Estate: Imminent Demise Or Forever Booming ?
They say … Rising interest rates may send Toronto home prices tumbling By Torstar News Service A sustained rise in interest rates of just one per cent could cause Toronto area home sales to tumble by 15.3 per cent and prices to decline by 5.8 per cent by 2015, predicts a veteran housing analyst. Even […]
Why Condo Crash Is Not Going to Happen ?
According to Globe and Mail, Toronto condo market is doomed. Toronto’s soaring condo market ignites fears of a US-style crash Historically low interest rates and financially healthy banks eager to lend have spurred Canadians to shop for houses and condos. So builders built. Prognosis grim for Toronto condo investors Warren Buffett is fond of saying that “you never know who […]
Mortgage Rate Hike = Interest Rate Up = Home Prices Down ?
First, they say Canadian mortgage rates on the rise … Canadian mortgage rates on the rise Mind you, the hike is solely to increase the already fat profit margin of banks, it has nothing to do with interest rate, not yet. For the record, interest is still the same old artificially suppressed rate we have […]