Ottawa’s tighter mortgage rules, with a new harmonized sales tax in Ontario and impending rate increases should slow the Canadian housing market in the second half of the year, taking away any fears of a housing bubble notes analysts. The Canadian Real Estate Association (CREA) reported Wednesday that resale home sales across Canada dropped 2.8% [...]
Canada’s inflation rate rose last month as Statistics Canada’s consumer index rose more than half a point to 1.9%, making this the largest increase seen in more than a year. The entire inflation indicators rose in January and all provinces experiences inflations, with Atlantic Canada having the biggest gains. The Bank of Canada core index, [...]
As if to help support talk that the housing market in Canada is not overheating, the CREA released data today that suggests that the home resales pace across the country is moderating. In January 2010, the number of seasonally adjusted resales dropped nearly 3% from the previous month. Sales were up 58% from January 2009, [...]
With the new rules announced by Finance Minister Jim Flaherty we could have thousands of home buyers, especially, the young, first time home buyer finding it harder to acquire their dream house. The new rules are expected to go into effect as of April 19th, and mean that borrowers must have higher incomes or larger [...]
Finance Minister Jim Flaherty is tightening mortgage rules in order to crack down on speculators and discourage homeowners from taking on too much debt. This is the attempt made to responding on the growing concerns that Canada’s housing market is getting too hot, although he stresses that there is no such bubble in Canada’s real [...]
As was expected last week, Jim Flaherty has unveiled some new mortgage rules to help counter the fears that Canada may be experiencing a housing bubble. The rules do not change the basics of mortgage lending very much: consumers still have to produce 5% of the property’s cost for the down payment, and the amortization [...]
Some real estate experts are worried that our current housing market is facing a bubble because low interest rates are encouraging some borrowers who are not financially secure to enter it. Now there is a new concern emerging: sales activity in real estate is being driven by foreign investors, particularly Chinese investors. At issue is [...]
