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According to statistics released today by The Canadian Real Estate Association (CREA), national home sales increased in October 2015 from the previous month. Highlights: National home sales rose by 1.8% from September to October. Actual (not seasonally adjusted) activity was little changed (+0.1%) compared to October 2014. The number of newly listed homes was up […]
Canadian employment surged by 44,000 in October 2015, which was above mar- ket expectations for a 10,000 increase although with much of the gain appearing to be the result of temporary hiring for the October 19, 2015 federal government election. The October gain built on 12,000 increases in both August and Septem- ber. 35,000 of […]
Mortgage loan insurance is typically required by lenders when homebuyers make a down payment of less than 20% of the purchase price. Mortgage loan insurance helps protect lenders against mortgage default, and enables consumers to purchase homes with a minimum down payment of 5% — with interest rates comparable to those with a 20% down payment. To obtain mortgage […]
There are many appeals and attractions that draw Canadians towards the condo life. Simplicity, efficiency, security, even glamour are all features that attract people to condominiums. But before making a down payment on your castle in the sky, you may want to reflect on the life you've already built − and on your future plans […]
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 […]
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 […]
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 […]
