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The average mortgage payment for new loans jumped 4.6 per cent in the past year.
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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Hate to be one of those folk that B.C. Housing Minister Rich Coleman believes has nothing better to do than get up and whine every day, but the B.C. government's affordable housing plan announced last week falls short. Sorry, someone had to say it.
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Head of federal mortgage insurer calls for higher down payments.
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It's just a "stress test," not a prediction.
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CMHC finds evidence of trouble in eight Canadian housing markets.
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High levels of debt plus rising house prices result in economic contractions, warns CMHC CEO.
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According to the Canadian Payroll Association's survey of employed Canadians released in advance of this week's festivities, 53 per cent of British Columbians reported that "it would be difficult to meet their financial obligations if their pay cheque was delayed by even a single week."
Some experts worry Canadian banks are too eager to lend mortgages.
The majority of the impact will fall on first-time buyers.
Economic slowdown on the Prairies takes a bite out of housing construction.
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Toronto's housing market is flashing red warning signs, but Vancouver's has only a "moderate" risk of overly high prices.
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New limits may force more borrowers to approach alternative lenders as a source for financing and may increase the percentage of parents taking out a second loan on their own home to help their adult children move into the housing market.
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A prominent mortgage expert says the federal Liberal government is considering raising the minimum down payment needed to get a government-insured mortgage. “That’s what I’m hearing from a high-level...
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Canadian house prices would drop 26 per cent on average if oil fell to $35 a barrel and stayed there for five years, says the CEO of Canada Mortgage and Housing Corp. Evan Siddall made the comment at...
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You’ve heard it before: Canadian housing is in a bubble, and a price crash is headed our way. It’s been said enough times in the past six years or so that it seems safe to discount the warning altoget...
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Canada's housing market has been helped by low interest rates in recent years.
The largest decline is in single-detached homes, where construction is down 39 per cent.
TORONTO — Data indicating how much of Canada's real estate is being snatched up by foreign buyers is scant, but the country's national housing agency is working to change that. In a briefing note date...
Low interest rates have driven Canada’s housing markets to new heights in recent years, but the president of Canada’s largest homebuilder is concerned by what that could mean if and when those rates b...
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The Conservatives' pledge to spend $500,000 on collecting "comprehensive data on foreign buyer activity in Canada's housing market" has been met with a mixed reaction among realtors, many of whom ackn...
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Canada may be in the midst of a "technical recession," as economists like to call it (we won't know for sure until StatsCan's GDP release in September), but the housing market is showing no signs of i...
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OTTAWA - The pace of new home starts picked up in May as the housing sector showed surprising strength Monday, giving economists hope for the second quarter after a slow start to the year.Canada Mortg...
OTTAWA - Lower crude prices are expected to help contribute to a split in the Canadian housing market that will see oil-producing provinces slow but others gain ground, Canada Mortgage and Housing Cor...
Construction of single-family homes in Canada’s largest cities is rapidly disappearing, the result of land shortages, changing policies and changing homeowner tastes. The latest housing market outlook...
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OTTAWA - Canada Mortgage and Housing Corp. is raising mortgage insurance premiums for homebuyers with less than a 10 per cent down payment by about 15 per cent, effective June 1.Premiums for homebuyer...
OTTAWA — The rate of new home construction in Canada slowed in February to its slowest pace since July 2009, with much of the country caught in a deep winter freeze. Royal Bank economist Laura Cooper...
OTTAWA - The Canada Mortgage and Housing Corp. is cutting 215 jobs in a organization of the Crown corporation, which provides mortgage loan insurance and market statistics.The federal agency said Frid...
Canadian levels of consumer debt, especially mortgage debt, were termed “unsustainable” by ratings agency Fitch in a report that gives a negative outlook for Canadian banks. Fitch gives Canada’s bank...