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Finally the Cold is Gone and The Market is Heating Up

Yes the May number are finally in for the Month and they show what most of us had suspected that the Late Spring is finally yeilding to a more active market. Streets and Condo Complexes have a higher than usual For Sale Signs that have popped up from the Vendors finally prepared to show and sell their homes. Herein find the broadcasted report from the Ottwa Real Estate Board that show a stronger, ...

Mortgage interest never as easy to pay as now — as long as rates stay low, DBRS report shows

It hasn’t been this easy to pay the interest on your mortgage in almost 25 years. Credit rating agency DBRS Inc. has been tracking our ability to pay loans since 1990 and says today we only need on average 3.7% of our household disposable income to cover the interest on those loans — the lowest percentage on the books. All this comes as Canadians continue to ramp up their mortgage debt, ...

Interesting Real Estate updates

CMHC agrees to make more mortgage information public Canada’s largest mortgage default insurer has agreed to industry demands to make more information about its portfolio public. Canada Mortgage and Housing Corporation, a Crown Corporation that controls about 60% of the market, has released a supplemental section on its results which among other things lays out detailed information breaking ...

Rental Agreement (hot water tank) Registered on Title

There are several new water heater rental companies in the marketplace with a different approach to the usual month to month rental to which homeowners are accustomed. Lack of awareness can cause complications when selling a home. It would be best if purchasers could find out if such a contract exists and deal with it at the outset or conditional period rather than waiting for it to be discussed ...

So far this spring...

Ottawa's real estate market is warming but not at an alarming rate.  Compared to April of 2013, the number of sales in April 2014 was down by 9.5%.  This included 257 condos and 1,163 freehold properties.  There have, as to be expected, been more properties change hands in April than in March of this year so June is looking quite bright. The average days a property is on the market ...

CMHC: Expect higher Canadian house prices, but fewer starts in 2014

Canada federal housing agency lowered its forecast for housing starts but not prices in 2014 and said sales and construction will be flat or barely higher in 2015 as the once-roaring market adjusts to a glut of condominiums coming onto the market. Canada Mortgage and Housing Corp said the nation’s housing boom is coming to an end in what officials hope will be a soft landing as construction slows ...

Mortgage rates in Canada just fell below 2% from lenders

If you thought mortgage rates could not go any lower, you were wrong. Investors Group is rocking the mortgage world with what appears to be the deepest discount in Canadian history on a floating rate loan, offering a deal that takes an effective mortgage rate down to 1.99%. Full article –http://tinyurl.com/l9zureb   Source: Financial Post & CREA May 14 2014

Market update

Canada home sales rise most since August Canadian home sales rose last month at the fastest pace since August as a surge in transactions in Vancouver and Toronto offset a cooling elsewhere. The number of homes changing hands in April rose 2.7 percent from a month earlier, the Canadian Real Estate Association said today in a statement, as sales jumped 14 percent in Vancouver and 4.6 percent in Toronto. ...

Strong housing prices expected amid slowing sales

The Canadian Real Estate Association will be releasing April’s housing data on Thursday, and the report is expected to show that prices are strong even though sales have been lacklustre. “Price gains remain firm in much of the country, with average prices expected to be up about 6 per cent year-over-year, steady from the prior month,” Bank of Montreal economist Benjamin Reitzes wrote ...

CMHC to rein in mortgage liabilities to $545B this year

Canada's national housing agency expects to trim the amount of insured mortgages it's keeping on its books this year, a continuation of a multiyear trend that started in 2011. The Canada Mortgage and Housing Corporation (CMHC) said in its annual report released Monday it expects to have a total of $545 billion worth of insurance in force by the end of 2014. That's down from $557 billion for fiscal ...
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