Not only banks are getting pickier, they’re also giving out lesser and lesser … because they can’t really ride on ‘fool’ like CMHC anymore ? No idea how true is th allegation, but we do know CMHC is under more serious scrutiny now. And while banks are totally desperate to have as many mortgages as […]
Housing: Too expensive to buy or rent ?
The Canadian Mortgage Trends blog reports on how tougher mortgage borrowing rules have raised demand for rental housing and, in turn, pushed up rents. In fact, rents are rising faster than house prices in Toronto. Buy or Rent? BMO Economics Says Canadian Home Prices Are Not Highly Overvalued When debating renting versus buying, BMO Economics studied […]
Eliminating Toronto Land Transfer Tax – Scandalous Mayor Rob Ford Populist Publicity Stunt ?
With the City of Toronto’s Executive Committee expected to review a City staff report on options for phasing out the Toronto Land Transfer Tax in coming weeks, a new poll is showing strong public support for eliminating this tax. New Poll Shows Continued Strong Public Support for Eliminating Toronto Land Transfer Tax “The public continues […]
Mortgage rate is rising ? Locking up is the way forward ?
RBC, quite possibly North America’s most profitable bank, has just hiked their mortgage rate. However, will the rest of the financial big boys follow suit (they usually do) is anyone’s guess. The intriguing question at hand is why will they rest hike the rate accordingly when the overall mortgage market is shrinking ? Are Canada’s […]
If you were Stephen Poloz, would you raise or lower interest rates?
Incoming Bank of Canada governor Stephen Poloz should raise interest rates, a new report says. Advice for incoming BoC governor: Raise interest rates Report says low levels have threatened pension funds, helped boost household debt Julian Beltrame The Canadian Press Incoming Bank of Canada governor Stephen Poloz is already getting advice on what to do once […]
BoC: “Toronto condo glut could destabilize economy”
The Bank of Canada is warning that an “abrupt correction” of Toronto’s overheated condo market could quickly spread to the rest of the housing market, threatening the broader economy. The central bank reiterated its concern Thursday about a glut of unsold condominiums, particularly in Toronto, in a twice-yearly review of the health of the financial […]