Toronto, Vancouver housing markets move in drastically different directions

Canada’s two most expensive housing markets have moved in different directions over the past year, leaving average national sales with an appearance of relative stability that masks sharp regional differences. Greater Toronto Area home sales fell 27 per cent in October compared with a year earlier, while Greater Vancouver saw home sales climb 35 per […]

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Toronto, Vancouver housing markets to Flourish despite new rules to Facilitate froth: CIBC

The housing markets in Toronto and Vancouver are poised for significant long-term cost growth as flourishing demand and insufficient supply overwhelm recent policy efforts to cool those markets, according to a new report by economist Benjamin Tal. Mr. Tal, deputy chief economist at CIBC World Markets Inc., said home sales in Canada’s two most expensive […]

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Toronto-area new housing starts drop 42 Percent in October

New housing starts tumbled from the Toronto area in October as contractors slowed the pace of new job building amid market uncertainty. Canada Mortgage and Housing Corp. said 2,438 new housing units were launched in the Greater Toronto Area in October, a 42-per-cent fall from 4,204 units in the same month last year. Starts were […]

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Mortgage stress-test rules will make switching lenders Tougher, critics say

Ottawa’s new stress-test principles for mortgages will make it harder for homeowners to shop around and change creditors when their loans compensate for renewal, critics of the regulations state. Canada’s banking regulator introduced rules last week that raise the bar to qualify for mortgages using a deposit of more than 20 percent — loans which […]

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How OSFI’s new mortgage rules will affect home worth

It’s going to become harder to qualify for a mortgage. Canada’s banking regulator released final guidelines for its mortgage eligibility rule on Tuesday, which impose tighter standards on the uninsured market. Lenders will shortly be asked to “stress test” all uninsured mortgage loans — those at which the buyer makes a down payment of at […]

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How OSFI’s new mortgage rules will affect home worth

It’s going to become harder to qualify for a mortgage. Canada’s banking regulator released final guidelines for its mortgage eligibility principle on Tuesday, which impose tighter standards on the uninsured market. Lenders will shortly be asked to “stress test” all uninsured mortgage loans — those in which the buyer makes a down payment of at […]

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New mortgage rules Probably ‘significantly depress’ economic growth, report finds

Ottawa’s proposed mortgage principle changes danger slowing the pace of financing and acting as a drag on the Canadian market in coming years, a new research report says. An investigation by Veritas Investment Research estimates tougher new stress-testing principles for mortgages may get the growth rate in the value of new mortgage loans in Canada […]

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The bullies are back in Toronto’s housing market

Toronto’s property market is showing renewed strength, with bidding competitions and bully offers making a resurgence after a torpid summer. David Fleming of Bosley Real Estate Ltd. was caught off guard when he took his customers to see a home at the Beaches area and soon learned that a bully offer had landed. “I did […]

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