Is a slowing housing market the kiss of death for the Canadian economy? While there’s no doubt that a falling market comes with its fair share of bad karma, it doesn’t necessarily mean that we’re headed towards a full on market crash similar to the U.S. In fact, a decline in home prices could actually come with some benefits. Here’s … Read More
Deciding on Debt: How the New Rules Will Impact Your Mortgage Hunt
Two things are clear about the current Canadian housing market. First, interest rates are going to go up. The Bank of Canada governor, Mark Carney, Finance Minister Jim Flaherty, and pretty much anyone involved in the banking industry has been warning of a hike, if not several, potentially before the end of the year. Second, the nation’s major banks have … Read More
Fewer First Time Home Buyers Could Signal Trouble
A recent report from Canada Mortgage and Housing Corporation shows that there are fewer first time home buyers entering the nation’s real estate market. The recently released Renovation and Home Purchase Report, which highlights the key trends, analyses and statistics from ten major Canadian cities, predicts that the housing market could be headed towards trouble thanks to a decreasing number … Read More
Mortgage Rule Changes Not So Severe
The first round of changes to Canada’s mortgage rules were more bark than bite, according to a letter sent to the nation’s banks on Wednesday from the Office of the Superintendent of Financial Institutions. Earlier this year, mortgage experts speculated that new mortgage rules could have a dampening effect on hot real estate markets, as more and more mortgage applications … Read More
Housing Prices Now and Then – Are Things Really That Bad?
If you believe the headlines, housing prices are on the rise across Canada even as consumer debt continues to pile up. The allure of low mortgage rates has thousands of home hunters bidding on what appear to be overpriced properties. But is that really the case? When it comes to understanding the true price of a home, there’s one main … Read More