3 Reasons Why Falling Home Prices are a Good Thing
There are many right now that are panicked over our housing market. “The bubble has finally burst,” they say; or “Canadian homeowners are all about to find themselves underwater.” But wait. Before we start sounding the alarms and blaming the government for forcing a cool-down, and the falling home prices that go with it, let’s…
Read moreToronto Builders Cry Out as Mortgage Rule Effects are Felt
First CAAMP was asking the federal government to rescind the mortgage rules that went into effect in July, and now Toronto builders are doing the same thing. According to their latest statistics, the Building Industry and Land Development Association (BILD) says that sales in the GTA have dropped by 14% in the first 10 months…
Read moreHomes Becoming More Affordable – But Don’t get Too Excited
According to RBC’s affordability index, the cost of homes in Canada is becoming more affordable. But before you get too excited, you should know that regardless of what the index is, properties still have a little ways to go before they become truly affordable for the average homebuyer. RBC’s affordability index shows that due to…
Read moreMortgage Rules Working as Level of Insured Mortgages Drops
Well last week CAAMP was crying out for the federal government to revise the mortgage rules that went into effect in July, as they were hurting an already struggling market. But CMHC has released new stats showing that the amounts of both insured mortgages and home refinancing have dropped drastically. And that’s exactly what Finance…
Read moreWhy the Difference between Calgary and Edmonton Homes?
Calgary and Edmonton provide one of the best rivalries here in Canada. There are few better hockey games to watch than Calgary playing Edmonton (although we’d take anything right now) and while Calgary is more developed and has larger infrastructure, Edmonton has West Edmonton Mall. But when it comes to Calgary mortgages and Edmonton mortgages,…
Read moreThe Canadian housing market conundrum awaits a faster and easier fix
According to a recent announcement made by Moody’s rating agency, a majority of the largest Canadian banks are likely to suffer a credit downgrade. This stirs up the fears of rising debt levels amongst consumers as they look to refinance their homes. The housing prices are also not going to be free from a substantial price…
Read moreSpringtime Likely to be Slower due to Tighter Mortgage Restrictions
Springtime is the time of year when flowers are in bloom, romance is in the air, and Realtors start to become very busy! Spring is the be-all-end-all season when it comes to homebuying, as buyers are tired of being cooped up all winter, and the weather allows for hitting the pavement in search of that…
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