Canadian Housing Market at Tipping Point

EditorFamilyLending.ca, First Time Home Owner, Mortgage News, Mortgage Term, Mortgage Types, Residential Mortgages

According to economists at the Bank of Nova Scotia, Canada will soon boast a more than 70 percent homeownership rate. The question now is whether or not the nation’s housing market has reached the tipping point (the United States is believed to have cracked the same 70 percent threshold just before the housing bubble burst in 2008). Growing concern over … Read More

Carney and the Rate Game

EditorFamilyLending.ca, Financial Tips, General Interest, Mortgage News, Mortgage Talk Canada

Higher rates have been on Bank of Canada Governor Mark Carney’s mind this week. Carey signalled the chance of tighter policy on three separate occasions this week, even after keeping the key lending rate at 1.0 percent. however, Carney’s insistance that rates are on their way up sets Canada apart from other central banks that continue to look for ways … Read More

Toronto and Vancouver Markets Begin to Cool

EditorHousing Costs, Mortgage News, Mortgage Term, Mortgage Types, Real Estate Advice, Residential Mortgages

Home sales in Canada’s two hottest markets, Toronto and Vancouver, have already begun to cool thanks to new mortgage rules. According to the Toronto Real Estate Board, July home sales in the city slipped 1.5 percent compared to a year ago. Properties in Vancouver dropped 11.2 percent from June. Concerns about a bubble in both communities had been mounting since … Read More