A routine audit is leading a Canadian bank to repurchase their “ineligible” mortgages. Montreal-based Laurentian Bank is agreeing to buy back over $125 million in mortgages. The agreement is the result of a routine audit from the Canada Mortgage & Housing Corporation (CMHC). This comes while the bank is trying to improve borrowing standards, after […]
Canadian real estate drove debt levels across the country to a new record high, but higher interest rates have kicked off a deceleration of growth.
Canada’s seemingly never ending supply of real estate buyers is finally starting to dry up, as mortgage growth falls to a 17 year low.
Time for your weekly cheat sheet on this week’s top stories. Canadian Real Estate Toronto Real Estate Leads The Country In Average Price Declines, Saint John Pops Higher Ontario is seeing the fastest declines in average sale prices, while Eastern Canada is moving higher. Toronto led the decline with an average sale price of $804,584 […]
The average sale price of Canadian real estate is falling, and fast. Canadian Real Estate Association (CREA) numbers show the average price of a home is down 11.3% in April 2018. Most of the declines are being attributed to the country’s largest and fastest falling real estate market – Toronto. Yeah, I haven’t heard of […]
House rich, cash poor Canadian Boomers are tapping their real estate wealth using reverse mortgages. Reverse mortgages are a relatively small form of debt, but the high rate of growth has the multi-billion balance on track to double every few years.
Vancouver real estate debt has been soaring, but how much other debt do households have? Equifax numbers from the Canada Mortgage and Housing Corporation (CMHC) show that the majority of debt is real estate related, but there’s still a whack of consumer debt. When broken down into payments, more than a third goes to servicing […]
Montreal real estate debt is rising, but how much other debt do households have? Equifax numbers from the Canada Mortgage and Housing Corporation (CMHC) show that the majority of debt is real estate related, but there’s still a lot of consumer debt. When broken down into payments, consumer debt requires even more cash to service. About […]
Toronto real estate debt has been soaring, but how much other debt do households have? Equifax numbers from the Canada Mortgage and Housing Corporation (CMHC) show that the majority of debt is real estate related, but there’s still a whack of consumer debt. When broken down into payments, consumer debt requires nearly as much cash […]
Last year’s hottest real estate markets, are this year’s fastest cooling ones. Canadian Real Estate Association (CREA) numbers show the majority of markets saw the sales-to-new listings ratio (SNLR) decline significantly in April. There were a few markets that are seeing the ratio rise, almost all located East of Toronto. The fastest cooling markets were […]
