The Southern Ontario Housing Market
Since this blog tends to focus either on national topics or the Toronto real estate market, I thought it’d be a good idea to have a look at how the real estate markets of other cities in Southern Ontario are doing at the moment. The data I will present is taken from the most recent…
Read moreExternal Factors Relevant to Canada’s Rate Hike Decisions
In a recent Huffington Post article, Scott Boyd, a currency analyst at OANDA Corporation, made some interesting points regarding the hottest topic in Canadian economics, the future of interest rate hikes. While I have generally focused on the domestic factors that will determine when the Bank of Canada will begin to increase interest rates, Boyd…
Read moreThe small picture
Looking at the big picture in the housing market it is easy to conclude that the housing boom should be bracing for a crash. It seems that with all that is going on in the world and especially with our closest southern neighbor, that the constant calls for interest rate increases continue to to be muted and…
Read moreIndirect Evidence That Rate Hike is Imminent
Today, the Bank of Canada released the results of a survey it conducted regarding the short-term outlooks of Canadian businesses. Of particular importance to those interested in predicting the future of mortgage rates were the responses to two questions, one regarding job creation and one regarding inflation outlooks. Among Canadian firms surveyed, 57% expected to…
Read moreCMHC Insurance Savings Opportunity
Individuals who have purchased a house recently with less than 25% down are aware of the insurance fee they had to pay to the CMHC. The less one puts down, the larger the insurance fee is. What few people are aware of is the 10% insurance refund offered by the CMHC to owners of energy…
Read moreThe Mysterious Vancouver Housing Bubble: Part 2
It seems to be a weekly occurrence now to hear about some new data attempting to explain the ever-rising home prices in Vancouver. This week, Benjamin Tal, deputy chief economist at CIBC, pointed to some data from Landcor Data Corp. which estimated that only 10% of foreign transactions in Vancouver over the past five years…
Read moreJune Resale Figures For The GTA
The Toronto Real Estate Board released their June resale figures today, showing a 9.5% increase in average house price and 21% increase in sales over June 2010. A particularly interesting point from the news release concerns the undersupply on the real estate market: “While sales have been strong, we would be on track for a…
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