The Canadian residential mortgage market crossed the $1-trillion threshold for the first time this year as higher prices forced many to borrow heavily to finance their new homes and low interest rates encouraged many more to refinance.
Author: James Chung
According to Canada Mortgage and Housing Corporation (CMHC), there were 1,447 housing starts in October in the Vancouver Census Metropolitan Area (CMA), bringing the year-to-date total to 12,584 homes.
Ryan Zupan, Mortgage Planner.
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Housing activity in the country is slowing down after a busy first half, especially in British Columbia, Alberta and Ontario where prices are expected to fall in the coming months.
The Vancouver International Fringe Festival, produced annually by the First Vancouver Theatrespace Society, is BCâ€™s largest theatre festival and North Americaâ€™s most international Fringe Fest.
The impact of the high-flying loonie, which broke above parity with the U.S. greenback on Friday, is expected to make its mark on Canadaâ€™s trade figures this coming Wednesday.
The value of Canadian building permits issued in September soared 15.3 percent from August, well above market expectations, on both residential and nonresidential building intentions, Statistics Canada data showed on Friday.