Big news just announced in the housing market is that Finance Minister, Jim Flaherty just announced the following changes to the mortgage rules in Canada: * Mortgage amortization periods will be reduced from 35 years to 30 years. * The maximum amount Canadians can borrow to refinance their mortgages will be lowered from 90 per [...]
Today, a Royal Lepage report was mentioned in the Canadian Newspapers. Here are some links (Note the title of the news stories) : House prices on healthy rise: Royal LePage (Vancouver Sun) Average house prices show return to normalcy: LePage (CTV) HALIFAX HOUSE PRICES SEE HEALTHY YEAR-OVER-YEAR INCREASES (Newswire) More recently CREA released their September [...]
The Canadian Real Estate market has been experiencing 3 months of declining home sales. In June and July sales in Canada were down by 30%. Despite the drop in sales, the average price for a home remains close to the all time high. However, prices are starting to fall. June’s average home price was only [...]
Mortgage interest rates have been pleasing to the pocket book of many for a while now so can we expect them to rise any time soon? And if and when they do, how high might they go and what will happen to the real estate market when they do? Should we buy or sell our [...]
With interest rates on the rise and the HST tax now in effect in Ontario and BC, all the right factors are in place for a Canadian real estate slow down. But how slow can it go? Bubble Talk Just Hot Air? As the Canadian housing market rebounded vigorously from the economic crisis, talk of [...]
Real estate news in Canada including buy and sell information, local market updates, guides, tips for Canadians in the real estate market.