With the summer season now in full swing, last week was slow in terms of real estate and mortgage news but Canada’s major real estate boards will report on June results later this week. Most observers are expecting a continuation of May’s strong sales figures.   Re/Max published its Recreational Property Report last week which […]

By and large, the 5-year fixed mortgage rate follows the pattern of 5-year Canada Bond Yields, plus a spread. Bond yields are driven by economic factors such as unemployment, export and inflation. When Canada Bond Yields rise, sourcing capital to fund mortgages becomes more costly for mortgage lenders and their profit is reduced unless they […]

The Canadian Real Estate Association published resale data for May last week with most markets seeing a healthy rise in sales volumes. Average prices across the country were up in May by more than 7% year-over-year to $416,584.   CMHC released results of its Mortgage Consumer Survey last week. Brokers are seeing growing market share […]

We often encounter a lack of awareness with clients when it comes to mortgage completion and vacationing, that I’m hoping to shed some light as to why it’s a good idea to vacation after the mortgage is complete.  There seems to be a mis-conception that people are free to go on vacation once the mortgage […]

The Week in Economic and Real Estate News   CMHC reported last week that housing starts in Canada were trending higher in May compared to April. Builders continue to manage their activities according to demand and analysts suggest that current levels of starts are within the range supported by market fundamentals.   According to the […]

This time of year always brings questions about property taxes.  Most people have received notices at this point and here are a couple reminders: If you live in your property, you need to claim the Home Owners Grant.  Usually column B on your notice.  You can often claim the grant online on your cities website […]

Canada’s major real estate boards reported May results last week. The news was generally good with sales and prices up but low inventories are still creating difficult conditions for buyers in Calgary and Toronto.   The Bank of Canada left its key overnight rate at 1% last week and its commentary contained no indication of […]

Canada’s major real estate boards reported May results last week. The news was generally good with sales and prices up but low inventories are still creating difficult conditions for buyers in Calgary and Toronto.   The Bank of Canada left its key overnight rate at 1% last week and its commentary contained no indication of […]

On Friday, we learned that Canada’s two private mortgage insurers, Genworth and Canada Guarantee, will not match the changes CMHC announced to its product line-up the week before. But they will each modify their Second Home products by restricting eligible properties to one unit.   The Vancouver and Calgary real estate boards reported April results […]

Since most couples have a joint mortgage – one where both names are on the mortgage and title of the home – when separation or divorce proceedings get underway, many wonder what will happen with the home. When the marriage comes to an end, there are two obvious options concerning the home: 1) sell the […]