The latest industry numbers from CREA and TREB are out this week, and they all point to a cooling housing and mortgage market across Canada.
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Canada’s three major urban centres have experienced a downturn recently, with an increase in unsold inventory from this time in 2011. Is Canada’s reliance on credit to blame?
This week’s Friday Mortgage Roundup explores the impact of Scotiabank’s ING DIRECT acquisition and breaks down recent CAAMP updates.
Whatever happened to actually saving for a purchase? With Canadian debt levels at an 8-year high, it’s safe to say saving has become an antiquated concept. But when it comes to your mortgage, upping the down payment ante can make a HUGE difference for your return on investment. Want to learn more? We’ve crunched the numbers for you with our new Mortgage Calculator!
What is a REIT and how can you use it to capitalize on the inflating housing market? REITs are highly liquid (vs. having a property as an asset in your portfolio), cost effective (less expensive per unit than real estate) and they allow you to invest in non-residential property as well if you so choose.
The CMHC had added their predictions to the cooling housing market pile – and they’re fortunately less extreme than past calls of a 10 per cent drop. While they’re forecasting a slowdown in pricing, new construction and existing home sale figures, Canada’s housing market is still sitting pretty compared to the U.S., where 4 million homeowners are now underwater on their mortgages.
Sometimes it’s worth shelling out extra for a brand name – but should that apply to your mortgage as well? While smaller lenders often feature the best rates in the country, mortgage shoppers often pass them up for a big bank product instead. We debunk the myths surrounding the small – but mighty – mortgage lender.
This week on the Friday Mortgage Roundup we take a look at the recent report from MPAC on residential property sales in Ontario – and explore the options for home sellers looking to avoid shelling out for agent commission.
It’s been an eventful week for the mortgage market as we saw 5 year fixed rates drop to an all time new low, and contended with whispers of a forecasted housing market crash, prompting the question – will prices drop with a thud, or are we simply witnessing the effects of a cooling market?
This week we saw the Bank of Canada stick to their guns, announcing they would hold their rate of 1 per cent in their July announcement. In new mortgage rule news, lenders are responding to the guidelines in different ways, with some banks applying limitations to their conventional mortgage products as well – and credit unions may provide options for those looking to skirt the new HELOC and cash-back mortgage rules.