No Comments

Canada’s National Housing Agency Forecasts Price Drops In Toronto and Vancouver

Canada’s state-owned mortgage insurer sees prices dropping in major real estate markets. The Canada Mortgage and Housing Corporation (CMHC), is forecasting price declines across Canada. This week they provided additional data, showing the expected impact to major markets. The agency sees Toronto and Vancouver falling from last month’s prices, even in a best case. As […]

The post Canada’s National Housing Agency Forecasts Price Drops In Toronto and Vancouver appeared first on Better Dwelling.

No Comments

Ontario Sees Biggest Outflow of Residents Since 2015, While BC and Quebec See Inflows

The pandemic didn’t slow down Canadians looking for a new province in the beginning of this year. Statistics Canada (Stat Can) data shows interprovincial migration is up in Q1 2020. Ontario was one of the biggest losers, seeing more Canadians leave than arrive in the quarter. BC and Quebec continued to attract more Canadians from […]

The post Ontario Sees Biggest Outflow of Residents Since 2015, While BC and Quebec See Inflows appeared first on Better Dwelling.

No Comments

Major Canadian Real Estate Markets That Reopened See Inventory Explode Higher

The Canadian real estate market is starting to see sellers return, especially in post-lockdown regions. Canadian Real Estate Association (CREA) data shows the sales to new listings ratio (SNLR) fell across Canada in May. The entire drop was due to inventory rising much faster than sales, in regions where the lockdown has been mostly lifted. […]

The post Major Canadian Real Estate Markets That Reopened See Inventory Explode Higher appeared first on Better Dwelling.

No Comments

This Week’s Top Stories: Canada’s Largest Bank Calls The Top For Real Estate Prices, As Non-Mortgage Credit Defaults Jump

Time for your cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Real Estate Prices Peaked Says Canada’s Largest Bank, Revises Forecast Lower RBC, Canada’s largest bank, thinks Canadian real estate prices may have peaked for the year. Economists from the bank note the relatively flat movement compared to April, and expect […]

The post This Week’s Top Stories: Canada’s Largest Bank Calls The Top For Real Estate Prices, As Non-Mortgage Credit Defaults Jump appeared first on Better Dwelling.

No Comments

“Always the Right Time to Buy!” – Cheap Rope For Vancouver RE Buyers

As a mortgage agent, Lorina Serafico, a home-financing adviser with Scotiabank, often gets asked when is a good time to buy a home.
“If a household has the income, down payment, and the credit score to qualify for a mortgage, it is always the right time,” she said.
According to Serafico everyone needs a home, whether owned or rented.
“I consider mortgage payments as a forced savings plan,” Serafico said. “A $500,000 property you bought today will be worth $873,000 in 10 years. That’s an average of 7.45 percent annual increase, beating a medium-risk investment portfolio.” …
With more than a decade as a mortgage agent, Serafico has served numerous customers, and a number of them have started meeting with her again.
They’re usually owners of townhouses and condos, and now they’re thinking of upgrading to single-family homes.
“They like what is happening in the market. There’s more inventory; prices have stabilized; and interest rates are good,” Serafico told the Georgia Straight in a phone interview.
On March 27 this year, the Bank of Canada slashed its key interest rate—which determines bank lending rates—to its lowest level of 0.25 percent.
– excerpt from ‘Mortgage holders can seize on opportunities to upgrade’, Carlito Pablo, Georgia Straight Vancouver’s News & Entertainment Weekly, 17 June 2020

“It’s hard to make predictions, especially about the future.” – attributed to Yogi Berra.
One would think that people, especially finance professionals, had learned not to say things like “…it will be worth…”, “…7.45%…”, and “…always…”.
– vreaa

No Comments

Four of Canada’s Big Banks Note Real Estate Inventory Is Rising Faster Than Sales

Canadian banks have been divided on where the market will head, but they’re all seeing the same thing – inventory rising faster than sales. Four of the Big Six commented on May sales across Canada. All four banks stated the rise in sales last month sounded more impressive than it was. The bigger common concern […]

The post Four of Canada’s Big Banks Note Real Estate Inventory Is Rising Faster Than Sales appeared first on Better Dwelling.

No Comments

TransUnion: Almost A Fifth of Canada’s Millennials Are Delaying Their Home Purchase

More Canadians are starting to feel the financial pressures of high household debt. TransUnion‘s consumer survey conducted at the end of May, shows more people are worried about making their credit payments. This pressure is causing a significant number of people to delay buying a new home – especially first time buyers. Two-Thirds of Households […]

The post TransUnion: Almost A Fifth of Canada’s Millennials Are Delaying Their Home Purchase appeared first on Better Dwelling.

No Comments

Canada’s Super Rich Actually Own A Bigger Share of Wealth Than Previously Thought

Canada’s wealth inequality issues are bigger than previously estimated – which really is something. The Parliamentary Budget Officer (PBO), a non-partisan office that advises the Canadian government, has created a new model to estimate wealth held by the country’s richest households. The new estimate shows Canada’s one-percent actually holds a much bigger share of total […]

The post Canada’s Super Rich Actually Own A Bigger Share of Wealth Than Previously Thought appeared first on Better Dwelling.

No Comments

Canadian Real Estate Prices Peaked Says Canada’s Largest Bank, Revises Forecast Lower

Canada’s largest bank is calling the top for real estate prices in the near term. RBC economists took a dive through the latest Canadian real estate sales for May 2020. In addition to noting prices have stalled, they believe the bounce in sales is overstated. Combine this with an observation on supply outpacing demand, and […]

The post Canadian Real Estate Prices Peaked Says Canada’s Largest Bank, Revises Forecast Lower appeared first on Better Dwelling.

No Comments

TransUnion: Canadian Non-Mortgage Credit Delinquencies Soar To 2015 Levels

Canadian lenders have been granting credit payment deferrals by the hundreds of thousands. Somehow, that’s not quite enough to deter delinquencies. TransUnion data shows a significant uptick in delinquencies for non-mortgage credit in Q1 2020. The increase brings the country to the highest level of delinquencies in half a decade. Canadian Non-Mortgage Credit Delinquencies Reach […]

The post TransUnion: Canadian Non-Mortgage Credit Delinquencies Soar To 2015 Levels appeared first on Better Dwelling.

WP Twitter Auto Publish Powered By : XYZScripts.com