What profits at Canada’s big banks are saying about the odds of a recession

Robb NelsonMortgage Talk Canada

By: Peter Evans If a recession is headed our way, the canaries in the economic coal mine that are most likely to sing its arrival will be Canada’s big banks. That’s because Canada’s five biggest lenders — Royal Bank, TD, Bank of Montreal, Scotiabank and CIBC — have a hand in nearly every aspect of Canada’s economy, from loaning businesses money for … Read More

Refinance now or wait in a very, very long line

Robb NelsonMortgage Talk Canada

By: Peter Miller The Mortgage Reports Contributor You might be delaying your plans to apply for a refinance. And that could be a mistake. The time it takes to refinance is about to shoot up. Way up. Homeowners are refinancing in droves, which is taking lenders by surprise. In December 2012 it took 57 days to close a refinance, according to mortgage … Read More

Toronto mixed-use developments the world’s envy

Robb NelsonMortgage Talk Canada

by Neil Sharma Toronto is experiencing one of the world’ s largest building booms, but it’s the city’s mixed-use developments that have become the world’s envy. One such development is Union Park, a sprawling 4.3 million square foot, $3.5 billion office, residential and retail complex in the city’s core. Not only will it be one of the largest developments in Toronto’s … Read More

High House Prices Aren’t Stopping Canadians From Buying. Here’s Why.

Robb NelsonMortgage Talk Canada

by Isabelle Khoo It doesn’t look like the housing bubble will pop anytime soon. Despite high prices, housing demand in Canada continues to climb and sales continue to soar. According to Toronto and Vancouver real estate board data, home sales rose by 24 per cent year over year in July in both cities. The increase was fuelled by low interest rates and high demand. The Bank of … Read More

Government lays out fine print of new CMHC program that could contribute 10% to price of first home

Robb NelsonMortgage Talk Canada

By: Pete Evans  The government on Monday released details of a program announced during the last federal budget, an initiative that could see Canada’s housing agency contribute up to 10 per cent of the price of a buyer’s first home if certain conditions are met. Under the fine print for the First Time Home Buyer Incentive program, which was announced in March and will officially … Read More