My Real Estate Blog - Market Trends, Tips & Updates
Budget 2024 housing highlights: capital gains inclusion rate on secondary homes rises to 66.7%
4/16/2024 | Posted in Government and Regulation by Paul DeAdder
Housing was a key priority in today’s federal budget, though it came as no surprise given the array of housing-related policy announcements unveiled in recent weeks.
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Fixed mortgage rates are rising. What's the deal?
4/18/2024 | Posted in Home Buyers by Paul DeAdder
As variable-rate mortgage holders eagerly anticipate the Bank of Canada’s first rate cut, fixed rates are heading in the other direction: up.
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Housing starts down seven per cent in March from February: CMHC
4/16/2024 | Posted in Canadian Housing Market by Paul DeAdder
Canada Mortgage and Housing Corp. says the annual pace of housing starts in March declined seven per cent compared with February.
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Feds commit to exploring CRA income verification in budget 2024 to address mortgage fraud
4/12/2024 | Posted in Government and Regulation by Paul DeAdder
The federal government today confirmed plans to consult with the mortgage industry on developing income verification tools through the Canada Revenue Agency.
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OSFI announces new stress test for uninsured mortgages
4/16/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
Canadian regulator cracks down on high-debt mortgages to protect borrowers
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4/12/2024 | Posted in GTA Real Estate by Paul DeAdder
Housing prices in the GTA are expected to rise 10 per cent this year and will likely surpass those in Greater Vancouver by the end of 2024, according to an updated forecast by ... More
Ottawa to allow 30-year amortization for first-time buyers' mortgages on new homes
4/11/2024 | Posted in Government and Regulation by Paul DeAdder
Some advocates are praising Ottawa’s move to lengthen the amortization period on insured mortgages for certain homebuyers, but say expanding the policy to all Canadians ... More
Hints of Active Spring Market in March Housing Data
4/12/2024 | Posted in Canadian Housing Market by Paul DeAdder
While there are expectations the Canadian housing market will pick up on some level this year, home sales and prices were mostly unchanged on a month-over-month basis in March ... More
Bank of Canada leaves spring housing market in 'holding pattern'
4/10/2024 | Posted in Canadian Economy and Housing Market by Paul DeAdder
News not all bad as central bank signals possibility of rate relief in June
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Bank of Canada announces key interest rate decision
4/10/2024 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
The Bank of Canada (BoC) today announced its key interest rate decision, electing to hold rates steady at five per cent.
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Housing crisis will worsen without imminent action, says RBC
4/9/2024 | Posted in Real Estate Market by Paul DeAdder
The housing affordability crisis in Canada is reaching alarming new heights, impacting middle-income families far beyond major cities, according to a new report from RBC.
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Bank of Canada to keep rates on hold this week, first cut seen as early as June
4/8/2024 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
The Bank of Canada is widely expected to keep its key overnight rate on hold Wednesday, as it gathers more evidence of cooling inflation before delivering its first interest ... More
Home prices could hit peak levels by next year, set new highs in 2026: CMHC report
4/5/2024 | Posted in Canadian Housing Market by Paul DeAdder
The Canada Mortgage and Housing Corp. is forecasting home prices could match peak levels seen in early 2022 by next year and reach new highs by 2026.
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Canada homebuilding down for third year, housing agency predicts
4/4/2024 | Posted in Canadian Housing Market by Paul DeAdder
Canadian homebuilders are expected to dial back new construction for a third straight year in 2024 as elevated borrowing costs reduce the appeal of starting projects, ... More
Trudeau offers billions to boost homebuilding - with strings attached
4/2/2024 | Posted in Government and Regulation by Paul DeAdder
Prime Minister Justin Trudeau is pressuring Canada’s provinces to remove barriers to building more housing, including requiring them to freeze municipal development ... More
Inflation expectations cast shadow on BoC's rate decision
4/3/2024 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
Economists question their forecasts as inflation expectations challenge anticipated rate cuts
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Selling Prices Up In March and Set to Accelerate This Spring
4/3/2024 | Posted in GTA Real Estate by Paul DeAdder
Greater Toronto Area (GTA) REALTORS® reported 6,560 sales through TRREB’s MLS® System in March 2024 – down by 4.5 per cent compared to March 2023.
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Luxury home sales surge in parts of Canada as buyers flee expensive big cities
4/2/2024 | Posted in Luxury Real Estate by Paul DeAdder
Luxury real estate sales have increased across the country in the first two months of the year but larger markets like Toronto are seeing less activity as some buyers look ... More
Canadian recreational home prices expected to climb 5% this year amid supply squeeze
3/27/2024 | Posted in Recreational Properties by Paul DeAdder
Median home prices in the country’s recreational housing markets are forecast to rise 5% in 2024 as demand grows for scarce listings.
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OSFI rejects Competition Bureau recommendation to drop mortgage stress test for lender switches
3/22/2024 | Posted in Government and Regulation by Paul DeAdder
Canada’s banking regulator says it has no plans to remove the stress test on uninsured mortgages for borrowers who choose to switch lenders.
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