Industry & Market Highlights  Poloz Holds The Line On Rates As expected, the Bank of Canada held its key overnight rate this morning at 1.5%, asserting that July’s surprising spike in CPI inflation to 3% was in large part because of a jump in airfares. The Bank expects inflation to move back towards 2% in […]

Industry & Market Highlights  Market improvements as expected Improvements in the housing market that were forecast for the second half of this year appear to be materializing. The July numbers from the Canadian Real Estate Association show a sales increase of 1.9% in July over June.  June was up more than 4% from May.  Year-over-year, […]

WEEKLY RESIDENTIAL  MARKET UPDATE  Industry & Market Highlights  Market improvements as expected Improvements in the housing market that were forecast for the second half of this year appear to be materializing. The July numbers from the Canadian Real Estate Association show a sales increase of 1.9% in July over June.  June was up more than […]

WEEKLY RESIDENTIAL  MARKET UPDATE  Industry & Market Highlights  Report on the Housing and Mortgage Market in Canada Mortgage Professionals Canada creates in-depth consumer reports to provide a better understanding of Canada’s housing market, identifying patterns in consumer behaviour, providing a snapshot of who the Canadian homebuyer is, and presenting data to provide both macro and micro […]

WEEKLY RESIDENTIAL  MARKET UPDATE  Industry & Market Highlights  First Monthly Canadian Home Sales Gain This Year In June National home sales rose by 4.1% in June compared to May, the first such rise this year. Even so, June’s sales activity remains well below the monthly pace of the past five years (see chart). The sales […]

Are you a first time home buyer or repeat buyer feeling frustrated in your price point qualification due to the new mortgage lending guidelines that created an affordability issue for most borrowers? The general consensus in the industry is that first time home buyers are getting very discouraged due to the tight lending rules and […]

WEEKLY RESIDENTIAL  MARKET UPDATE  Industry & Market Highlights  Bank of Canada Raises Rates The Bank of Canada raised it’s overnight rate by 0.25% from 1.25% to 1.50%. This target overnight rate is what major financial institutions charge for one day loans, and is used to set Prime lending rate for consumers.  The overnight lending rate […]