Concern over rising consumer debt levels is prompting Ottawa to make three new changes to Canada's mortgage rules.
Flaherty (Canada's Finance Minister), today announced prudent adjustments to the rules for government-backed insured mortgages to support the long-term stability of Canada’s housing market and support hard-working Canadian families saving through home ownership.
The new measures include... read more.
Higher mortgage rates and stricter mortgage rules are starting to take effect, though Canadians’ debt levels are still too high for comfort. That was the message from Agathe Cote in her first public speech as a deputy Bank of Canada governor on Monday. Here’s a sampling of key points from her address yesterday in Kingston, Ontario:
• The Bank of Canada’s rate hikes and government’s new mortgage res... read more.
The Greater Vancouver residential housing market entered three distinctive phases in 2010. Continued buoyancy from the post-recession recovery began the year, followed by a summer lull and, throughout the fall, a sustained period of stability.
The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2010 reached 30,595, a 14.2 per... read more.
The Vancouver Real Estate Market is looking strong, however Winnipeg is poised to be Canada's hottest housing market this year. In fact, 2011 is shaping up to be the year of the mid-sized city with St. John's, Fredericton, Regina and Saskatoon also enjoying some of the strongest price increases in the country. A lot of first-time buyers are already being priced out of large urban centres. With the... read more.
TORONTO - The Canadian real estate market will follow a similar pattern in 2011 as 2010. Buyers will make purchases in the early months in anticipation of higher interest rates, according to a report from one of Canada's largest real estate firms.
The aftershocks of the recession, including a lingering low interest rate environment, will continue to influence the Canadian real estate market in 2011... read more.
Wishing you all a wonderful New Year. Looking forward to what the real estate market has to offer this year. All arrows are pointing towards the right direction! 2010 ended with an increase in sales in the market. Given the current purchasing power with the interest rates and mortgages and Government Perks for first time home buyers, feel free to contact me when inquiring to purchase your first ne... read more.