Canadian economy slow and steady
Tagged: Mortgage Rates
The Royal Bank of Canada raised two of its mortgage rates by one-fifth of a point each.
Some Canadian banks are hiking their variable mortgage rates, seeking to pump up its profit margins as it becomes evident that interest rates will remain low for some time to come.
Not a single Canadian city will see house prices fall in 2011, according to a market forecast by Re/Max, as low inventories prop up prices.
Home sales in Metro Vancouver and the Fraser Valley improved modestly in November over the previous four months, representing a relatively stable market, according to two real estate surveys released Thursday.
It is no secret that Bank of Canada governor Mark Carney is concerned about a potential decline in home prices. However, cycles of declining home prices are far from unusual in Canada.
A new doomsday report warns Vancouver’s housing market could be hit by a burst bubble — and a drop in prices by as much as 30 per cent.
The threat of a giant, synchronized real estate bubble looms over all six of Canada’s major cities, says the report released by the Canadian Centre for Policy Alternatives.
Steep housing price increases in six of Canada’s hottest real estate markets since 2002 have all the hallmarks of an “accident waiting to happen” if mortgage rates rise too sharply, warns a new report.
Canada’s major metropolitan housing markets are looking awfully bubbly and are due to burst, says a report released Tuesday.
The report, entitled Canada’s Housing Bubble: An Accident Waiting to Happen, by the Canadian Centre for Policy Alternatives, looks at prices in Toronto, Vancouver, Calgary, Edmonton, Montreal and Ottawa.
The malaise in Canada’s housing market is deepening, as record-low interest rates and a vast selection of homes prove to be insufficient incentives to draw new buyers into the market.
Just days after the Canadian Real Estate Association downgraded its sales forecast for the rest of the year, data from British Columbia and Alberta show sharp double-digit decreases in the number of homes sold in July compared to a year ago.