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Market To Heat Up Before New Year

Ambivalent consumers appear to be taking the plunge into homeownership before OSFI’s rule changes take effect on January 1. By most accounts, homeownership will become less attainable for a sizeable portion of the consumer market by the beginning of next year, and it appears that many are less reticent about pulling the trigger on one […]

Toronto Condo Prices Hit New Milestone

One thousand dollars. That’s the new cost, on average, per square foot for a new build condo in the heart of Canada’s largest city. It’s a shocking 30 per cent increase, per square foot, year-over-year in Toronto. A price point which is here to stay, according to Urbanation, the company that compiled the third quarter […]

Market Showing Signs Of A Rebound

Market Showing Signs Of A Rebound

The uncertainty sparked by the introduction of Ontario’s fair housing plan is starting to wane as formerly hesitant would-be buyers regain confidence that Toronto’s real estate market is stabilizing again, analysts and realtors said Sunday. While some prospective buyers will be hit by new mortgage rules coming into effect on Jan. 1, the overall market […]

Unregulated Lenders Can Help/Benefit

Unregulated Lenders Can Help/Benefit

New rules meant to cut out risky lending by banks in Canada are pushing home purchasers into the arms of unregulated lenders, the head of the nation’s housing agency said on Friday, adding that steps could be taken to curb their growth. The Office of the Superintendent of Financial Institutions, Canada’s banking regulator, said this […]

As Of January 1/18, It Will Be Harder To Get A Mortgage

As Of January 1/18, It Will Be Harder To Get A Mortgage

Canada’s banking regulator has tweaked its new mortgage stress-testing rule, ensuring home buyers will not have an unintended incentive to sign up for shorter-term mortgages. The Office of the Superintendent of Financial Institutions published revised final guidelines Tuesday for its controversial stress-testing rule, which requires buyers making down payments of more than 20 per cent […]

New Proposed Rules Will Reduce Your Buying Power

New Proposed Rules Will Reduce Your Buying Power

A proposal by Canada’s banking regulator to expand “stress tests” for mortgage borrowers will reduce how much house Canadians can afford by 21 per cent, says a new report from mortgage comparison site Ratehub. Reducing affordability by that much is likely to lead to a 10- to 20-per-cent decline in house prices, said James Laird, […]

Toronto’s Condo Market Continues To Defy Odds

Toronto’s Condo Market Continues To Defy Odds

There’s no denying that Toronto’s housing market is slumping badly. In the span of four months, average home prices have dropped by roughly 20 percent. In April, a Toronto home sold for $920,761 — August data from the Toronto Real Estate Board show an average selling price of $732,292. But strangely enough, condominium prices haven’t […]

Toronto Home Prices Likely Near Bottom

Toronto Home Prices Likely Near Bottom

Toronto’s roller-coaster real estate market took a swoop lower in August, the fourth-straight month that the average sales price in Canada’s largest city declined from a dizzying record high set in April. The Toronto Real Estate Board said Wednesday the average price for all home types in the Greater Toronto Area last month was $732,292, […]

Market Is Bottoming Out, “Soft-Landing” Is Likely

Market Is Bottoming Out, “Soft-Landing” Is Likely

Don’t count on the Bank of Canada to change its course of gradually higher interest rates because the housing market is weakening. After all, that’s what policy changes, particularly in British Columbia and Ontario, were put in place to do. The Canadian housing bubble — long feared to be vulnerable to a dangerous pop — […]

Trends Suggest Housing Market Will Rebound This Fall

Trends Suggest Housing Market Will Rebound This Fall

Price pressure and inventory-shortage argue against characterizing the current summer market as a “downturn” — versus a short lull — in the market. While this may dash the hopes of struggling first-time buyers, demographics and listing supply make it highly unlikely that the market will downturn past the summer months. At most, the lull would […]