10 Sep

WEEKLY RESIDENTIAL  MARKET UPDATE 

General

Posted by: Adriaan Driessen

Industry & Market Highlights  First-Time Home Buyer Incentive As of September 2nd 2019, Canadians interested in the First-Time Home Buyer Incentive can submit their applications for a shared equity mortgage with the Government of Canada.  The First-Time Home Buyer Incentive helps qualified first-time homebuyers reduce their monthly mortgage carrying costs without adding to their financial burdens. […]

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1 Aug

RESIDENTIAL MARKET UPDATE

General

Posted by: Adriaan Driessen

Industry & Market Highlights  Bank of Canada Benchmark Qualifying Rate Effective July 22, 2019, the Bank of Canada 5-year Benchmark Qualifying Rate is 5.19%. What you need to know The qualifying rate legislation was created to ease customer affordability in the event renewal interest rates are higher than the rate received at origination. The Bank of Canada […]

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3 Jul

RESIDENTIAL MARKET UPDATE

General

Posted by: Adriaan Driessen

Industry & Market Highlights \ CMHC’s First-Time Home Buyer Incentive Falls Short of Expectations The Canada Mortgage and Housing Corporation held an official announcement yesterday to release details of its First-Time Home Buyer Incentive (FTHBI). While officials reiterated how this shared-equity program will help young middle-class Canadian buyers, there were scant new details beyond what […]

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11 Jun

RESIDENTIAL  MARKET UPDATE

General

Posted by: Adriaan Driessen

Industry & Market Highlights  CMHC Statistics released by the Canadian Real Estate Association (CREA) show that national home sales increased in April with most markets recording increases in both transactions and prices. The number of homes sold rose 3.6% compared with March, on a seasonally adjusted basis. The rebound in sales over the past two […]

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24 Apr

Residential Market Update

General

Posted by: Adriaan Driessen

Industry & Market Highlights  Rate hike disappears over the horizon The likelihood of a Bank of Canada interest rate increase appears to be getting pushed further and further beyond the horizon. The Bank is expected to remain on the sidelines again this week when it makes its scheduled rate announcement on Wednesday. A recent survey […]

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10 Apr

RESIDENTIAL  MARKET UPDATE 

General

Posted by: Adriaan Driessen

Industry & Market Highlights  Federal budget’s housing measures miss the mark Incentives in the federal budget for first-time homebuyers crippled by soaring housing costs could worsen affordability woes. “It’s all about increasing demand for housing without doing much to increase supply, and you don’t need to be an economist to know that if you increase […]

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20 Mar

WEEKLY RESIDENTIAL MARKET UPDATE

General

Posted by: Adriaan Driessen

London Mortgage Broker – Market Update Industry & Market Highlights  Liberal Government Woes & Housing    After two years of continuous rule changes reducing home owners purchasing power, creating a massive affordability gap, and stealing the future wealth from first time homeowners now unable to purchase their first home – the new Federal budget includes […]

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26 Feb

RESIDENTIAL MARKET UPDATE

General

Posted by: Adriaan Driessen

Industry & Market Highlights  The next move: no move for BoC The next rate setting by the Bank of Canada will be on March 6th and market watchers are not expecting any change. Governor Stephen Poloz set a fairly dovish tone in his recent speech to the Chamber of Commerce of Metropolitan Montreal.  Poloz called […]

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7 Feb

RESIDENTIAL MARKET UPDATE

General

Posted by: Adriaan Driessen

Industry & Market Highlights  Federal Policy Impacts on Canadian Housing Markets Housing markets across Canada slowed significantly in 2018 as a result of higher interest rates coupled with mortgage stress tests and other policy changes that have constrained homebuying. Mortgage Professionals Canada’s latest consumer research report, Annual State of the Residential Mortgage Market in Canada, […]

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18 Jan

RESIDENTIAL MARKET UPDATE

General

Posted by: Adriaan Driessen

Industry & Market Highlights  CMHC The Bank of Canada left the overnight benchmark policy rate at 1-3/4%, as expected. In another dovish statement, the Bank of Canada acknowledged a slowdown in global economic activity and highlighted that oil prices are roughly 25% lower than what they had assumed in the October Monetary Policy Report (MPR). […]

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