Five ways the Liberals could Impact your mortgage

The Liberals’ new majority gives them all the power they need to influence Canada’s mortgage market. Interest rates, mortgage policy and affordable housing initiatives will all be affected. Here’s some of what the mortgage market can expect from Mr. Trudeau’s new government: Higher bond yields: Balancing the budget is not a priority for the Liberals until [...]

2018-02-02T20:21:08+00:00February 2nd, 2018|

Rebalanced Canadian Economy Supports Healthy Real Estate Markets Across the Country

In the third quarter of 2015, home prices showed moderate to strong year-over-year increases in most markets in Canada, according to the Royal LePage House Price Survey¹ released today.  While the effects of the crude oil shock are still filtering through the economy, the country’s non-energy sectors are beginning to regain momentum as a lower [...]

2018-02-09T19:07:33+00:00February 2nd, 2018|

$7.5 billion in Building Permits issued in August

The total value of building permits decreased 3.7% to $7.5 billion in August, following increases of 15.5% in June and 0.7% in July (revised data). The decline was attributable to lower construction intentions in most provinces, mainly British Columbia, Alberta, Quebec and Saskatchewan. In the residential sector, municipalities issued $4.7 billion worth of building permits, down 5.1% from July. This was [...]

2018-02-02T20:17:18+00:00February 2nd, 2018|

Real estate rental and leasing and property management industries, 2013

The non-residential leasing industry reported $45.4 billion in operating revenue and $30.0 billion in operating expenditures in 2013, resulting in an operating profit margin of 33.9%. Ontario had the largest share of operating revenue, accounting for 42.0%, followed by Quebec (17.6%) and Alberta (15.9%). Lessors of residential buildings and dwellings generated $35.4 billion in operating revenue in 2013, while they reported $23.2 billion [...]

2018-02-02T20:16:13+00:00February 2nd, 2018|

Stronger than expected home sales activity in British Columbia and Ontario says CREA

The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations for 2015 and 2016. Since CREA’s forecast published in June, the outlook for oil and other natural resource commodities has deteriorated. As a result, the economic and [...]

2018-02-02T20:14:48+00:00February 2nd, 2018|

Bank of Canada maintains overnight rate target at 1/2 per cent

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent. Inflation has evolved in line with the outlook in the Bank’s July Monetary Policy Report (MPR). Total CPI inflation remains near the bottom [...]

2018-02-02T20:13:01+00:00February 2nd, 2018|

What’s trending in home décor

Here's a look at some key trends being seen in homes across Canada, according to Karl Lohnes, a home interior and product design authority. Colour: Rooms will feel comforting and intimate with charcoal and butterscotch, two great neutrals. Bring them into your home from the floor to the ceiling and don't forget the windows. Bone [...]

2018-02-02T20:12:03+00:00February 2nd, 2018|

Newly built home? Think inspection before possession

When buying a resale home, many prospective buyers hire a home inspector. It's not a requirement of course, but it makes sense. Why not check under the hood before spending all that money? When buying a new home from a builder things are very different. Often there is no house to inspect. There may not [...]

2018-02-02T20:08:52+00:00February 2nd, 2018|

The weekend is the perfect time to try out a dessert recipe!

Check out this one from Ghirardelli chocolate! Torte: 6 ounces Ghirardelli 60% Cacao Bittersweet Chocolate baking bar, broken or chopped into 1-inch pieces 1 tablespoon instant freeze-dried coffee 3 tablespoons boiling water 6 large eggs, separated 2/3 cup granulated white sugar 1/4 teaspoon salt Frosting: 4 ounces Ghirardelli Milk Chocolate baking bar, broken or chopped [...]

2018-02-09T19:15:15+00:00February 2nd, 2018|

Canadian home sales edge lower but remain strong in July reports CREA

Highlights: •       National home sales edged back by 0.4% from June to July. •       Actual (not seasonally adjusted) activity stood 3.4% above July 2014 levels. •       The number of newly listed homes edged up 0.2 per cent from June to July. •       The Canadian housing market remains balanced overall. •       The MLS® Home Price Index (HPI) rose 5.9% year-over-year in [...]

2018-02-02T20:04:37+00:00February 2nd, 2018|

Home prices up 1.2% in July

In July the Teranet–National Bank National Composite House Price Index™ was up 1.2% from the previous month, a seventh consecutive monthly increase. The rise exceeded the 14-year July average of 1.0%. Prices were up on the month in six of the 11 metropolitan markets surveyed – 2.7% in Hamilton, 2.4% in Toronto, 2.3% in Ottawa-Gatineau, [...]

2018-02-02T20:03:17+00:00February 2nd, 2018|

Boost the value of your home with strategic updates

(NC) Selling a home can be stressful. Between the constant cleaning and scheduling for countless showings, homeowners also want to make sure they get a fair price for their pride and joy. “Not all sellers have a huge budget to revamp their homes prior to selling,” says Nancy Peterson, home design expert. “But there are [...]

2018-02-09T19:23:00+00:00February 2nd, 2018|

Accessible housing design for tots to elderly parents

People who inhabit and visit the houses we live in come in all shapes and sizes, ranging from infants to seniors, with various ever-changing abilities and skills. As we grow up, grow old and welcome new people to our homes, our housing needs change. A house that is designed and constructed to reflect the principles [...]

2018-02-09T19:27:12+00:00February 2nd, 2018|

CMHC announces new rules for home owners with rental suites

As of September 28th, 2015, CMHC will be changing it’s borrowing rules to help facilitate more affordable housing in Canada. Currently, home owners with legal rental units can use 50% of the rental income towards their total income which means that home buyers can borrow more money. When the new rules come into affect, borrowers [...]

2018-02-02T19:57:29+00:00February 2nd, 2018|

How will Bank of Canada’s rate cut impact you?

As you might have seen in the news, the Bank of Canada cut it's overnight rate to 0.5% from 0.75%. Here is what this change might mean to you. If you currently have a fixed rate mortgage, your mortgage payments will remain unchanged.  However, if your mortgage is coming up for renewal in the next [...]

2018-02-02T19:55:34+00:00February 2nd, 2018|

Labour Market Boosts Canadian Real Estate in the Second Quarter

Against the backdrop of mixed economic signals at home and abroad, Canada’s real estate market remained healthy in the second quarter of 2015, with solid national average price appreciation across housing segments. Furthermore, the combination of high sales volumes and vigorous price appreciation in Canada’s largest cities has put the national residential real estate market [...]

2018-02-02T19:53:27+00:00February 2nd, 2018|

What to do if your identity is stolen

If you should fall victim to identity theft, it is important that you act quickly. Contacting the correct agencies and filing the necessary reports will go a long way toward minimizing any damage to your financial well-being. CREDIT BUREAUS Immediately contact the fraud departments of each of the credit bureaus listed on the back of [...]

2018-02-09T19:30:13+00:00February 2nd, 2018|

Housing starts increased in June from last month

The trend measure of housing starts in Canada was 183,959 units in June compared to 179,908 in May, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. “The trend in housing starts increased this month as multiple starts [...]

2018-02-02T19:51:11+00:00February 2nd, 2018|

Vacancy Rate in Seniors’ Residences Reaches 8.1 Per Cent

The vacancy rate for seniors’ residences decreased over the past year, reaching 8.1 per cent in 2015, compared to 8.7 per cent in 2014, according to the Seniors’ Housing Report – Canada Highlights released by Canada Mortgage and Housing Corporation. “As was the case in 2014, the increase in the total number of spaces for seniors in 2015 was [...]

2018-02-02T19:49:24+00:00February 2nd, 2018|

5 things that may need a closer look next time you buy a house

To help you protect that investment and find a safe, comfortable place for your family to call home, here is a list of some of the things you should look at before you buy a home, to make sure you won’t end up having to pay for a lot of expensive repairs: Decks and porches—look [...]

2018-02-09T19:34:24+00:00February 2nd, 2018|

Provincial Outlooks: Ontario on the path to a bright year while Alberta will post a decline in GDP

Although oil prices seem to have stabilized, Alberta's economy will post an overall decline in real gross domestic product (GDP) this year, according to The Conference Board of Canada's Provincial Outlook: Spring 2015. “Alberta’s economic performance will be underwhelming this year and next, especially compared with recent years,” said Marie-Christine Bernard, Associate Director, Provincial Forecast, The [...]

2018-02-02T19:38:24+00:00February 2nd, 2018|

Housing markets will remain stable says CMHC

According to CMHC’s second quarter 2015 Housing Market Outlook, Canada Edition1, housing markets will remain stable with housing starts moderating slightly in 2015 and 2016. There are, however, a number of risks and vulnerabilities that can affect the market outlook for Canada and each province. To account for these risks and vulnerabilities, CMHC produces forecast ranges for [...]

2018-02-02T19:35:55+00:00February 2nd, 2018|

Canadian home sales up again in April

Highlights: National home sales rose 2.3% from March to April. Actual (not seasonally adjusted) activity stood 10% above April 2014 levels. The number of newly listed homes was little changed from March to April. The Canadian housing market overall remains balanced. The MLS® Home Price Index (HPI) rose 4.97% year-over-year in April. The national average [...]

2018-02-02T19:34:07+00:00February 2nd, 2018|

Housing starts decline slightly between March and April says CMHC

The trend measure of housing starts in Canada was 179,299 units in April compared to 179,114 in March, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts. “Elevated levels of multi-unit starts during mid-2014 caused the trend to peak [...]

2018-02-02T19:30:43+00:00February 2nd, 2018|

CMHC Releases Updated Results of its House Price Analysis

Canada Mortgage and Housing Corporation (CMHC) released updated results today from its House Price Analysis and Assessment (HPAA) framework, which is designed to detect the presence of problematic conditions in Canadian housing markets. “Modest overvaluation based on national indicators reflects a variety of price conditions across the country with some centres showing more signs of overvaluation [...]

2018-02-02T19:29:40+00:00February 2nd, 2018|

Changes in debt and assets of Canadian families 1999 to 2012

Between 1999 and 2012, the value of debt and assets held by Canadian families both rose. However, the debt and assets increased at different rates by category of family. In 2012, 71% of all Canadian families had some debt, up from 67% in 1999. Debt includes both mortgages and consumer debt such as car loans, lines of credit, vehicle loans, personal loans [...]

2018-02-02T19:28:26+00:00February 2nd, 2018|

How to “Green” Your Bathroom Renovation

Bathroom renovations are one of the most popular home improvement projects in Canada. Creating your dream bathroom can add greatly to both the value of your house, as well as your family’s enjoyment of your home. But bathroom renovations also offer a number of opportunities to include several features that can dramatically improve the energy- [...]

2018-02-09T19:37:47+00:00February 2nd, 2018|

Should you renew your mortgage early?

If you are 4 years or more into a 5 year term, should you consider an early renewal? A Manulife survey in 2011 found that almost 2 in 3 survey respondents didn’t compare products from lenders when their mortgage was up for renewal. The number of Canadians who don’t compare mortgage products are surprising considering [...]

2018-02-02T19:24:12+00:00February 2nd, 2018|

Bank of Canada maintains overnight rate target at 3/4 per cent

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cent. Total CPI inflation is at 1 per cent, reflecting the drop in consumer energy prices. Core inflation has remained close to [...]

2018-02-02T19:23:00+00:00February 2nd, 2018|

Canadian Housing starts rebound in March

The trend measure of housing starts in Canada was 179,016 units in March compared to 180,236 in February, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates of housing starts. “Despite recent month-to-month changes in the SAAR, the trend in housing starts [...]

2018-02-02T19:20:27+00:00February 2nd, 2018|

BMO Household Savings Report reveals 19 per cent of Canadians did not put any savings aside in 2014

According to the BMO Household Savings Report, more Canadians are making saving a habit by using a fixed savings plan that includes monthly contributions. In fact, one-in-three Canadians (31 per cent) have a fixed savings plan in place heading into 2015, a year-over-year increase of 19 per cent. However, the report also found that 19 [...]

2018-02-02T19:19:18+00:00February 2nd, 2018|

Genworth Canada Releases Winter 2015 Metropolitan Condo Outlook

The long-predicted soft landing for condominium markets in cities across Canada is in sight for 2015, with modest gains in sales and prices in most major Canadian cities, according to the latest Conference Board of Canada condo report released by Genworth Canada. The Winter 2015 Metropolitan Condo Outlook forecasts positive condominium price appreciation in most [...]

2018-02-09T19:41:35+00:00February 2nd, 2018|

CPI rose 1.0% in the 12 months to February, matching the increase in January

The Consumer Price Index (CPI) rose 1.0% in the 12 months to February, matching the increase in January. Lower gasoline prices continued to be the largest downward contributor to the CPI on a year-over-year basis in February, posting a 21.8% decline. However, February's decline was smaller than the 26.9% year-over-year decrease observed in January. Excluding gasoline, the CPI increased 2.2% on a year-over-year basis in [...]

2018-02-02T19:16:46+00:00February 2nd, 2018|

Asian Investors Lead International Commercial Investment in U.S. and Canada, says NAR Survey

International investment in commercial real estate is dominated by Asian interests in both Canada and the U.S., according to a new survey from the Richard J. Rosenthal Center for Real Estate Studies at REALTOR®University and the National Association of Realtors®.   Investors Lead International Commercial Investment (PRNewsFoto/National Association of Realtors) The survey found that 47 percent of [...]

2018-02-09T19:43:46+00:00February 2nd, 2018|

Canadian home sales edge up in February

According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity edged up slightly on month-over-month basis in February 2015. Highlights: National home sales edged up 1.0% from January to February. Actual (not seasonally adjusted) activity stood 2.7% above February 2014 levels. The number of newly listed homes fell 2.5% from [...]

2018-02-02T19:12:29+00:00February 2nd, 2018|

Calculate how money-smart you are

Do you have a household budget? Do you know how much you'll need to save to maintain your lifestyle in retirement? Do you know how to get your credit report? If you don't consider yourself particularly money-savvy, you're not alone. Nearly two-thirds of Canadians taking part in the 2014 Canadian Financial Capability Survey (CFCS) rate [...]

2018-02-02T19:10:37+00:00February 2nd, 2018|

How Canadians are keeping their home warm

How Canadians keep their homes warm in winter depends on which part of the country they call home. Data from the 2013 Households and the Environment Survey reveal that those from Ontario and in the West mostly opt for forced air furnaces burning natural gas. In Quebec and in the East, it is electric powered baseboard heaters [...]

2018-02-02T19:08:30+00:00February 2nd, 2018|

Bank of Canada maintains overnight rate target at 3/4 per cent

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cent. Total CPI inflation in Canada has fallen as expected, reflecting the significant drop in oil prices. Core inflation remains [...]

2018-02-02T19:07:08+00:00February 2nd, 2018|

Canadian home sales dip in January

According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity was down on a month-over-month basis in January 2015. Highlights: National home sales fell 3.1% from December to January. Actual (not seasonally adjusted) activity stood 2.0% below January 2014 levels. The number of newly listed homes rose 0.7% from December [...]

2018-02-02T19:06:01+00:00February 2nd, 2018|

Home Buying costs you don’t know about

If you are buying your first home, chances are you are stretching your savings to the max.  Depending on your situation, you may have some other initial expenses to consider: Moving expenses Whether you’ll be hiring a moving company or renting a truck and asking friends for help, there are likely to be moving [...]

2018-02-09T20:04:41+00:00February 2nd, 2018|

Action Canada taskforce releases report on innovative finance for urban spaces and places

Five Fellows in the Action Canada leadership development program will release a policy report on innovative finance for urban spaces and places. Action Canada's 2014-2015 theme focuses on Canadian cities. Urban public spaces - such as streetscapes, parks, bike paths and green spaces - enhance a city's quality of life and competitiveness by attracting the [...]

2018-02-09T20:07:38+00:00February 2nd, 2018|

How the BoC overnight rate cut affects homeowners

The Bank of Canada recently announced a cut to the overnight rate recently from 1% down to .75%.   This can be seen as a proactive approach to protect the Canadian economy from the potential risks due to lower oil prices. Here’s what this cut to the overnight rate might mean to you. The 5 year [...]

2018-02-02T18:58:15+00:00February 2nd, 2018|

Multi-Family Real Estate Sector Contributes $24 Billion to Canadian Economy, Supports 140,100 Jobs

Capital investment in the multi-family real estate sector totaled $10.1 billion in 2013, according to a report released by the Real Property Association of Canada (REALpac) titled "The Contribution of the Multi-Family Real Estate Sector to the Canadian Economy". Some $2.9 billion was spent on new buildings, with the rest ($7.2 billion) invested in capital [...]

2018-02-02T18:57:01+00:00February 2nd, 2018|

Entering 2015, personal financial confidence takes a hit

A poll conducted by Nielsen finds that two-thirds (65 per cent) of Canadians are entering the new year feeling confident they will reach their financial goals, a decline from the same poll last year (76 per cent), and the lowest number in five years. Canadians aged 45 and up accounted for most of the decline, [...]

2018-02-02T18:55:45+00:00February 2nd, 2018|

Busy year ahead for B.C.’s construction industry

A new survey released by the Independent Contractors and Businesses Association of B.C. (ICBA) reveals that B.C.'s open shop construction companies expect 2015 to be even busier than 2014. "This is welcome news because the construction industry is a strong indicator for the rest of the economy," said Philip Hochstein, president, ICBA. "If our guys [...]

2018-02-02T18:54:41+00:00February 2nd, 2018|

Manulife Asset Management Shares Investment Insights in “Global Intelligence: The Year Ahead”

Manulife Asset Management has issued its annual "Year Ahead" report, which highlights monetary policy divergence, the need for structural reform in many economies, declining oil prices and a strengthening U.S. dollar as key topics of interest to investors in 2015. Drawing together the individual views from Manulife Asset Management's investment and economic teams on the [...]

2018-02-02T18:53:23+00:00February 2nd, 2018|

Canadian home sales hold steady in November

According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity was unchanged on a month-over-month basis in November 2014. Highlights: • National home sales were unchanged from October to November. • Actual (not seasonally adjusted) activity stood 2.7% above November 2013 levels. • The number of newly listed homes [...]

2018-02-02T18:51:24+00:00February 2nd, 2018|

Plans to build up in BC, AB and SK according to new building permit numbers

The total value of building permits was $7.5 billion in October, edging up 0.7% from September. The increase came mainly from higher construction intentions in British Columbia, Alberta and Saskatchewan.  The value of non-residential building permits increased 2.4% from the previous month to $3.1 billion in October. Gains were posted in five provinces, led by British Columbia, followed by [...]

2018-02-02T18:49:59+00:00February 2nd, 2018|

Quick tips and answers about RESPs

(NC) New parents have hundreds of questions and well-meaning family and friends have plenty of advice when it comes to putting money aside for education of children. But how do you know what is really right for you and your family? As one example, let's examine the Registered Education Savings Plan (RESP). Why save with [...]

2018-02-02T18:49:03+00:00February 2nd, 2018|
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