It's a long-term problem.
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The average mortgage payment for new loans jumped 4.6 per cent in the past year.
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Budget 2017 proposes to invest more than $11.2 billion over 11 years in a variety of initiatives designed to build, renew and repair Canada's stock of affordable housing, and help ensure that Canadians have affordable housing that meets their needs. But so far it fails to address key market-related issues - again.
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Spring has sprung, and while spring season is normally an occasion to celebrate, with days growing longer, weather getting warmer and real estate heading into busy season, everything feels a little different this year. Canada's real estate markets are dealing with myriad of issues.
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Out-migration can spell trouble for cities like Toronto and Vancouver.
5 Canadian housing markets show strong evidence of "problematic conditions."
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The change will add $5 a month to the average mortgage payment.
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The objective of that policy is to reduce mortgage lending. It means that a potential home buyer who can comfortably afford the costs of buying a home (based on their actual mortgage interest rate, which will usually be less than three per cent) might not be able to get financing, because of a new, very high "stress-test" hurdle (using an interest rate that is currently 4.64 per cent, and far above actual market rates).
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Foreign buyers aren't the major factor driving up house prices, Evan Siddall says.
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Canadians spoke loud and clear. They want a strong, collaborative national housing strategy to facilitate housing for those most in need, address the unique challenges facing indigenous peoples, eliminate homelessness, make housing more affordable and improve data collection, analysis and research.
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It's getting harder and harder to rent in Toronto, but easier elsewhere.
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With search terms such as "How to move to Canada" and "How to become a Canadian citizen" skyrocketing on Google during and after the election, Canada is on Americans' radar now more than ever. Now might be a good time to buy investment real estate.
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Head of federal mortgage insurer calls for higher down payments.
It's just a "stress test," not a prediction.