Blog Posts - Canada Mortgage News



Greater Vancouver home sales and prices set to soar in 2016

Home sales in Greater Vancouver are on a hot streak, and the professional association representing all the real estate boards in the province is bumping up its forecast for 2016, predicting escalating prices and a jump in the number of homes sold. Th...

Vancouver area benchmark house price up 30% in 1 year

The insanity, it seems, is not over. Despite ongoing warnings from the CMHC that the Vancouver housing prices are overvalued and have outpaced the economic fundamentals in the city, they keep climbing. In the past year, the benchmark price for a deta...

How can you win a real estate bidding war in Metro Vancouver?

In a red-hot real estate market where inventory is low, prices are high and competition is fierce, the seller holds exponentially much more power than the buyer. Multiple offers have become the new normal in the Vancouver market, with many properties...

Average Metro Vancouver home price climbs 20% in January

Vancouver’s hot real estate market isn’t showing signs of slowing. January saw year-over-year growth of more than 20 per cent for the Metro region, according to the Canadian Real Estate Association. That brings the average price of a home...

Canada’s mortgage rules tightened to cool off red-hot Vancouver and Toronto markets

The federal government is attempting to take some momentum out of the country’s most expensive — and frothiest — housing markets in Vancouver and Toronto, announcing Friday changes to mortgage lending rules that lift minimum down payment requir...

Rate cut could add fire to Vancouver and Toronto housing markets

A further interest rate cut by the Bank of Canada could further fuel flames in the country’s two biggest real estate markets which are once again showing signs of overheating, housing watchers say. “It’s another log on the fire for the Toronto...

Could an interest-rate hike cool B.C.’s real estate market?

Not “good” interesting. “Scary” interesting. “We believe the Bank of Canada will begin raising (interest) rates in March 2016,” a new report from the Ottawa-based economic think-tank says, predicting slow and gradual rate...

Average home price of affluent Canadians tops $1.5-million

That compares with an average price of $448,862 for homes sold in April, according to the latest figures from the Canadian Real Estate Association. Excluding the red-hot markets for the greater Toronto and Vancouver, the average figure in April was $...

What are the risks in presenting an offer subject free?

With Vancouver’s housing market racing off the charts, I found this interesting article by mortgage broker Atrina Kouroshnia who explains the risks involved in presenting an offer without subjects. In competitive housing markets like Vancouver,...

Mortgage rates come down even further during a heated spring housing market

Fierce competition among banks and home buyers is driving mortgage rates down and home prices up, signalling the start of a spring housing market that many observers expect will be particularly heated this year. Bank of Montreal unveiled a 2.79-per-c...

Million-dollar homes the new norm in some Canadian cities

In cities such as Vancouver and Toronto, the average cost of a detached home will set you back more than seven figures. Meanwhile, the market in Alberta has seen sales and prices drop since the collapse of oil. In January, Deutsche Bank AG warned tha...

Metro Vancouver homes push past the $1-million mark

Strong demand in Metro Vancouver – Canada’s hottest real estate region – has pushed typical detached home prices past the $1-million mark, with February sales well above average. Who is purchasing the homes, and how can they afford...

Toronto and Vancouver’s housing markets continue their upward surge

Canada’s housing market has been cooling, led by Alberta, but Toronto and Vancouver are surging forward fuelled by lower borrowing costs. Recent trends have seen a red-hot housing market in Alberta along with the big urban markets of Toronto an...

Canadian banks on brink of mortgage price war

Canada’s major banks are heading into a renewed mortgage price war in the wake of the Bank of Canada’s surprise decision to cut interest rates. Mortgage brokers reported that Royal Bank of Canada dropped its five-year fixed rate for quali...

Why the trend for owning a rental property is growing

Derek Petridis, a 39-year-old chief financial officer at Shikatani Lacroix Design Inc. in Toronto, has loaded up on seven condominium rental properties over the past decade. It may seem like he’s got an extreme bet on the housing sector, but a new...

Will the Bank of Canada’s interest rate cut make any difference to home buyers?

Already ranked as one of the most unaffordable cities in the world, Vancouver’s heated real estate market could get a further push, after the Bank of Canada cut the overnight lending interest rate to 0.75 per cent. The rate had been at one per...

Doesn’t look like interest rates will rise this year

Bank of Canada Governor Stephen Poloz will remain in interest-rate hibernation for another year as plunging oil prices raise concerns the nation’s economic growth is in jeopardy, economists say. Poloz, who delivers the central bank’s next...

How much are first-time homebuyers spending across Canada?

First-time home buyers are spending more to get into homeownership while some are putting off the buying decision based on financial considerations, says a new report from BMO. The average spent in Canada by first-time buyers is $316,100, up from $30...

Is now the right time to buy a home?

Buy a house. Don’t buy a house. Soft landing. Crash landing. As we start the new year, the question on everyone’s mind is: What can we expect from Canada’s housing market? Once again, experts agree that housing affordability is stretched, h...

What is predicted for Canada’s housing market in 2015?

There were no double-digit price gains in the country’s hottest real estate markets this year. Instead, Calgary, Toronto and Vancouver saw prices increase between 5% and 7%, according to each city’s real estate board. And as Sal Guatieri pred...


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