Industry tells re-elected Trudeau gov’t, ‘We’re watching you’

Robb NelsonMortgage Talk Canada

by Ephraim Vecina The real estate industry will be closely looking at the re-elected Liberal government to see if it will live up to its mandate of serving the people’s best interests, according to RE/MAX Ontario-Atlantic Canada executive vice president and regional director Christopher Alexander. “Affordability is a top priority for Canadians, and it’s encouraging to see the theme of affordability … Read More

CMHC reports annual pace of housing starts in Canada slowed in September

Robb NelsonMortgage Talk Canada

The Canadian Press OTTAWA — The pace of Canadian housing starts slowed in September compared with August, but still came in better than expected. Canada Mortgage and Housing Corp. said Tuesday the seasonally adjusted annual rate fell 2.5 per cent month-over-month to 221,202 units in September compared with 226,871 in August. However, economists on average had expected an annual pace … Read More

Vacant homes across Canada number over a million

Robb NelsonMortgage Talk Canada

by Ephraim Vecina Roughly 1.34 million homes across Canada lie empty or merely hold temporary occupants, according to a report by Point2 Homes. The 2016 figure, the most recently available batch, represented 8.7% of the units available in the national market. This share was noticeably larger than the 8.4% proportion seen a decade prior, and was far larger than the 2.8% … Read More

Tories, Liberals, NDP step up housing platforms

Robb NelsonMortgage Talk Canada

by Neil Sharma The two frontrunners in next month’s federal election are appealing to Canadians concerned about the state of the environment. As an election promise, the Conservatives are offering tax credits for renovations oriented towards energy-efficiency, which leader Andrew Scheer says will help the country meet its target for reducing greenhouse gas emissions. The tax credit would allow up … Read More

Rising home prices encourage consumers to borrow and spend, giving economy a boost

Robb NelsonMortgage Talk Canada

The Canadian press As Canadian home prices rose from 2014 to 2017, many households tapped the growing value in their homes for other spending, according to study by Bank of Canada economists. About two million households used home equity lines of credit (HELOCs), but another 380,000 got mortgage financing to raise equity, taking advantage of interest rates that fell in 2015, the … Read More