Canada firing on 3 cylinders…

Canada’s housing market is firing on three cylinders, surprisingly including Vancouver, and setting fresh records for the month of February. The Teranet-National Bank home price index, released Tuesday, showed a gain of 1% from January. That marks the fastest pace for a February in the 18-year history of this measure. The “increase of unusual magnitude […]

GTA home prices & sales continue to soar…

An announcement made by the Building Industry and Land Development Association (BILD) this week reveals that demand for housing in the Greater Toronto Area is showing no signs of slowing down. The average price of new low-rise homes is up 22 percent from last year, reaching a new high of $992,231 in the month of September […]

Mortgage pros say this is not a bubble…

There is no housing bubble, and any misguided attempts to fix one will cause bigger problems in the long run.  That’s one of the main takeaways of a new report from Mortgage Professionals Canada, an industry group that represents 11,000 mortgage brokers across the country. “Housing bubbles do not exist in Canada,” the group’s chief […]

Millennials’ dark financial fears

Far from having their heads buried in the financial sand, twenty– and thirty-something Canadians are feeling anxious, angry and scared about their futures. In December, we asked The Globe’s millennial readers to send us their biggest financial fears. More than 1,200 of them did. The answers varied but certain themes emerged: skyrocketing house prices, an […]

Canada’s new mortgage rules: 5 things..

Canadians looking to buy homes between $500,000 and $1 million will have to put down larger down payments as new federal rules took effect Monday. The new rules aim to slow the breakneck pace of price growth in the red-hot markets of Toronto and Vancouver without affecting markets that are lagging. Homebuyers in Canada now […]

Springtime mortgage wars 2016..

It’s become an annual springtime tradition in Canada, one that’s arrived a little early this year: The mortgage rate war.  Ontario’s Meridian Credit Union kicked things off Tuesday with the announcement of a one-year fixed-rate mortgage at 1.69%.  Read more…