Real Estate

Latest in Mortgage News: Stress Test Rate to Drop

Thanks to a reduction in some Big-Bank posted rates in recent days, Canada’s mortgage stress test rate will fall as early as next week. Both RBC and BMO cut a number of their posted mortgage rates this week, which should cause the mortgage stress test to fall from 5.04% to 4.99%, according to Rate ...

Record Decline in Home Sales and Listings in April: CREA

Home sales across Canada plunged 57% year-over-year in April to their lowest level since 1984, while the average house price fell back below $500,000, according to the Canadian Real Estate Association (CREA). When compared to March figures⁠—which were already weakened as the impacts of the COVID ...

CMHC’s Gloomy Outlook: Up to 18% Drop in Home Prices

The head of the Canada Mortgage and Housing Corporation delivered a particularly gloomy forecast while testifying remotely before the House of Commons Finance Committee on Tuesday. Among those predictions, CMHC CEO Evan Siddall said: Home prices could fall from their peak by 9% to 18% over the next ...

Technology’s Role in Canada’s Evolving Mortgage Industry

COVID-19 has dramatically changed the course of many industries and threatened the physical, mental and financial wellness of millions of Canadians. In the housing sector, real estate sales volumes have dropped significantly and rapid increases in unemployment have added uncertainty to many transact ...

Latest in Mortgage News: 2.5 Years for Home Prices to Make New Highs, Says CMHC

Canada’s housing sector indicators, including prices, sales and home starts, aren’t expected to return to pre-COVID levels until at least the end of 2022, according to CMHC’s latest Spring Housing Outlook. “Following large declines in 2020, housing starts, sales and prices are expected to st ...

Industry Reaction to CMHC’s New Mortgage Rules

Obtaining mortgage insurance for a home purchase is about to become more challenging on July 1, particularly for first-time buyers. The Canada Mortgage and Housing Corporation (CMHC), Canada’s national mortgage insurance provider, unveiled stricter underwriting policies on Thursday for insured mor ...

Latest in Mortgage News: 4 in 10 Buyers Open to Purchasing a Home “Virtually”

Social distancing restrictions in place for the past few months have transformed the way homes are bought and sold, with many showings now taking place “virtually.” And many homebuyers—42%, to be exact—are just fine with that, according to a recent survey by the Ontario Real Estate Associati ...

Episode 5: Remote Work Is Having Its Fifteen Minutes – Or Will it Be a Lot Longer?

  Remote work is having a minute, or rather a series of them.  Some companies have used it for years, some have been adamantly against it, but both kinds are being forced into it at the moment. As the pandemic forces millions to figure out some kind of home office set up (the kitchen table works ...

Issues

Would you work in a warehouse in steamy Victoria for nineteen bucks an hour (plus benefits and a bonus for showing up routinely)? Yesterday on this blog Carson moaned he couldn’t find workers to do so, and that people would rather stay home on the CERB. Yes, it pays less. But the actual work inv ...

Men in tights

Wall Street laid an egg one day this week. Bay Street had a cow. After surging more than 40% in history’s giddiest 50-day rally, stock markets gave back about 7% of that in a single day, before stabilizing. What to do? Easy. Ignore it. A feature of the Covid world we’ve been in since mid-March ...