Canadian home sales returned to historical average last month

Robb NelsonMortgage Talk Canada

by Steve Randall There was a further increase in home sales nationwide in May, finally returning sales to 10-year average levels for the month. The Canadian Real Estate Association reported a 1.9% month-over-month increase while actual seasonal activity gained 6.7% year-over-year; the largest annual gain in three years. Sales only increased in half of local markets in May but were … Read More

‘Pretty cheap money’: Canadian mortgage rates falling to their lowest level in 2 years

Robb NelsonMortgage Talk Canada

By: Pete Evans House prices may be as high as ever in many parts of the country, but Canadian homebuyers are being offered some of the lowest mortgage rates seen in years as lenders battle to drum up new business. Rates on a standard five-year fixed-rate mortgage have fallen to their lowest level in two years, according to rate comparison website, Ratehub.ca. … Read More

Ontario price variances illustrate the Fair Housing Plan’s impact

Robb NelsonMortgage Talk Canada

by Ephraim Vecina Two years since the Fair Housing Plan was introduced, home prices in markets throughout Ontario have seen significant ups and downs, according to a new Zoocasa analysis. The Plan – implemented by the provincial government in April 2017 as a response to speculator-impelled price growth – introduced a raft of regulations that have had a marked impact on … Read More