Canadian families are shrinking – but the demand for home space isn’t. Despite the average family having 2.5 members, single detached homes, and not condos, continue to be the hottest sought after type of housing.
Will the Canadian condo market remain in hot demand in 2014? The latest CMHC Housing Observer has some interesting facts about new demographic trends and affordability. Read on for our breakdown.
Last Friday, it was announced that the CMHC must pay risk fees to the Canadian government in exchange for backing 100% of the high risk mortgages they cover. How will this impact tax payers – and will it lead to higher costs for home buyers?
Mortgages Spotlight: 2014 could be a golden year for the Canadian economy as a number of factors will benefit the housing market.
National sales activity remains strong despite rising mortgage rates and new CMHC mortgage funding restrictions. BC hits a new record for sales, indicating it is recovering from last summer’s market softening changes, and economic factors look to improve in 2014, along with variable mortgages rates.
This time last year, the CMHC introduced sweeping mortgage rule changes that limited affordability for many mortgage and home buyers. On the anniversary of these changes, how has the housing market – and overall economy – been affected?
The latest Q1 2013 report from CMHC shows a 54% in insured mortgages compared to March of 2012. Last summer’s mortgage rules are a contributing factor, as fewer buyers qualify for financing, and are choosing to save longer for their home down payments.
New stats for starts suggest the Canadian mortgage market is in for a period of moderation, especially in once-hot urban condo markets. What does this mean for new home buyers?
The federal government is increasing its watch on crown corporations like the CMHC – what changes could be in store, and how will the affect home buyers?