2016 Housing Market

2016 Housing Market Ends On High Note

This morning, the Canadian Real Estate Association (CREA) released its December national real estate statistics showing home sales rose 2.2% month-over-month in the final month of last year. This rebound retraced less than half of the decline in November, when it posted the largest monthly decline in more than four years in response to the federal tightening of mortgage regulations. Activity was up in 60% of all markets, led this time by Calgary and Edmonton where sales Read more…

Canadian Economic Update – How It Impacts Mortgages

&nbsp December’s jobs report was unambiguously strong showing employment gains of 53,700 (0.3%), the result of gains in full-time work. Finally, for the first time this year, full-time jobs outpaced part-time. The unemployment rate increased 0.1 percentage points to 6.9% as more people entered the labour force. This is evidence that the economy may be absorbing the slack that’s kept interest rates near record lows. Full-time positions rose 81,300 in December from the previous month, Read more…

Federal Reserve

Fed Hikes Rates In The U.S.

Rarely has there been a more widely expected result as today’s 0.25 percent rate hike by the Fed. This is the second interest rate increase since the Fed started the current process of interest rate re-normalization one year ago. Although, many had called for additional hikes earlier this year, the policy makers held the overnight rate steady until now.In today’s press release, the Federal Open Market Committee (FOMC) said it currently sees the US economy Read more…

Bank Of Canada Holds Interest Rates

Bank Of Canada Holds Rates

It is no surprise to anyone that the Bank of Canada maintained its target overnight rate at 1/2 percent today, judging that the underlying trend in total CPI inflation will edge upward to 2 percent starting early next year. Temporary offsetting factors, such as the fall in commodity prices and the decline in the loonie are dissipating. Slack in the Canadian economy will continue to put downward pressure on inflation. The risks to the inflation Read more…

Mortgage Rules

Tightened Mortgage Rules Are Coming

(From our Chief Economist – originally posted at https://dominionlending.ca/news/morneau-takes-big-guns-slow-housing/) Yesterday, Ottawa unveiled major initiatives to slow housing activity both by potentially discouraging foreign home purchases and, more importantly, by making it more difficult for Canadians to get mortgages. These new rules will come into play effective November 2016. They will target both foreign buyers and new purchases – making it slightly harder for first time home buyers to qualify for a mortgage. As well, the Read more…

Toronto Mortgage News - 27-8-2016

Toronto Mortgage, Finance And Other News – 27-08-2016

Your Toronto Mortgage, Finance And Other News For The Week Ending 27th August 2016 In this week’s Toronto mortgage, finance and other news we look at other impacts (than just the cost) of the crazy hot Toronto housing market, there was potentially some good news for Toronto infrastructure investment (that is that something might happen!) and we also provide the usual dose of updates on the top Toronto sports teams. Check it out below! Financial Read more…

Toronto Mortgage News 21-8-2016

Toronto Mortgage, Finance And Other News – 21-08-2016

Your Weekly Update On Toronto Mortgage And Real Estate For 21st August 2016 In this week’s Toronto mortgage, finance and other news we take a look at a recent IPO filing in Toronto, Toronto secures the 4th spot on the ‘most liveable cities in the world’ report for 2016 (again) , a new report examines why house prices keep rising in Toronto and your usual update on the Toronto sports teams.Check it out below! Home Read more…

Toronto Mortgage News - 15-8-2016

Toronto Mortgage, Finance And Other News – 15-08-2016

Your Weekly Dose: The Toronto Mortgage News You Need To Know – 15-08-2016 In this week’s Toronto mortgage, finance and other news the biggest story was how much it costs to afford a home in Toronto – apparently it is now 6 figures. Elsewhere we continue our update on Toronto athletes in Rio and there have been layoffs at the Toronto Star. Check it out below! MCAN Mortgage Company Releases Earnings For Q2 MCAN are Read more…

Toronto Mortgage News - 7-8-2016

Toronto Mortgage, Finance And Other News – 07-08-2016

All The Toronto Mortgage News And Info You Need For The Week Ending 7th August 2016 In this week’s Toronto mortgage, finance and other news the real estate report is out for August and it shows a Toronto housing market that is blistering hot, we look at the impact of BC’s new 15% tax on Toronto properties, and how are athletes from Toronto doing in the Rio Olympics? Check it out below! New BC Foreign Read more…