LenSpect.com useful educational tool for industry newcomers By Mallory Hendry 12 Mar 2021 Full article can be seen here: https://www.mpamag.com/ca/specialty/alternative-lending/lenspectcom-useful-educational-tool-for-industry-newcomers/287144 When green brokers and agents come on to the scene, they must develop those crucial lender contacts — and while everyone knows a Scotia or a TD, it’s less common to have preexisting knowledge of AAREA Private Lending or Vault Mortgage. LenSpect.com is a great tool for newcomers to the industry because it hosts so many lenders all in one place, giving mortgage brokers direct access to the lending criteria of high-quality private mortgage lending companies in one spot. Each company has its own dedicated page and can post broker…

LenSpect.com offers one-stop-shop solution to common mortgage process pain point By Mallory Hendry 22 Dec 2020 Full article can be seen here: https://www.mpamag.com/ca/news/general/lenspectcom-offers-one-stop-shop-solution-to-common-mortgage-process-pain-point/286918 All brokers know the challenge of sifting through the lending criteria for multiple private mortgage lenders trying to find the right fit for their client. With LenSpect.com — a new private mortgage lending directory — that leg work is done for them. It’s a one-stop-shop offering brokers a centralized source to obtain lender criteria — and the opportunity to save themselves a lot of time. Peter Menicucci, a broker himself, founded the site to give a sense of order to the great variety of mortgages from…

The Bank of Canada will almost certainly take the steeper path to higher rates next month Kevin Carmichael Publishing date: Mar 28, 2022 Full article can be seen here: https://financialpost.com/news/economy/the-bank-of-canada-will-almost-certainly-take-the-steeper-path-to-higher-rates-next-month The Bank of Canada will almost certainly take the steeper path to higher interest rates when its leaders meet next month to reset policy. Many observers would have come to that conclusion before deputy governor Sharon Kozicki’s game-changing speech on March 25.   Her boss, Tiff Macklem, said after he and his deputies raised the benchmark rate a quarter point on March 2 that the pace of future increases would be guided by data. The data over the past few weeks show the economy…

Canadian Real Estate Could Be In For A “Correction Or Worse”: BMO Daniel Wong Contributing editor, stats guy. Full article can be seen here: https://betterdwelling.com/canadian-real-estate-could-be-in-for-a-correction-or-worse-bmo/ Canada’s excessive low rate policy has created a wave of speculative housing demand. That demand can end very quickly, as interest rates climb and real estate price growth slows. In a weekend note to clients, BMO explains it’s a less than ideal time to expect home prices to grow. Rising rates won’t have much of an impact on many homeowners, since they are prepared and stress tested. Investors looking to make a quick buck might be in for a surprise, though. The…

Higher rates, inflation bite into Canada's scorching-hot housing market By Jean Dondo Mar 28, 2022 Full article can be seen here: https://www.wealthprofessional.ca/news/industry-news/higher-rates-inflation-bite-into-canadas-scorching-hot-housing-market/365254 After seeing explosive price growth over the previous two years, suburbs and towns close to major metropolitan areas could be set for a slowdown in property demand, according to some real estate and mortgage professionals. According to Reuters, properties advertised for sale in Toronto’s supply-constrained market have already decreased at a slower rate than sales in February from a year ago. That’s compared to the most of last year, when listings lagged sales. "I had listings that, in January, would have had a 100+ showings," Nasma Ali,…

Canada housing market showing signs of ‘cooling’ as more interest rate hikes loom By Craig Lord  Global News Posted March 28, 2022 4:28 pm  Updated March 29, 2022 12:52 pm Full article can be seen here: Real estate watchers say rising interest rates are already starting to have a “cooling effect” on Canada’s hot housing market, but some economists are warning that the Bank of Canada will have to strike a tough balance with monetary policy tightening or risk a market crash. Central banks across the world have signalled plans to hike interest rates through 2022 in an effort to tame global inflation, with the Bank of Canada kicking off what’s expected…

Toronto real estate industry going strong despite COVID crisis Brynn Lackie Publishing date: Aug 15, 2020 Full Article can be seen here: https://torontosun.com/opinion/columnists/lackie-toronto-real-estate-industry-going-strong-despite-covid-crisis If I were asked to compile a list, “Why is Toronto real estate so bananas?” has joined his buddies, “So, what are you thinking about school in September?” and “Who’s idea was it to open bars, anyway?” as my most prominently featured conversations of this pandemic summer. While I have no clue where to even begin to answer the second two questions, the subject of Toronto real estate in the time of COVID-19 continues to be endlessly fascinating. To quickly recap, when the…

Toronto real estate hits another all-time high in July A new report suggests potential Toronto home buyers have doubled during the COVID-19 pandemic BY RADHEYAN SIMONPILLAI AUG 8, 2020 Full Article can be seen here: https://nowtoronto.com/lifestyle/real-estate/toronto-real-estate-july-2020 Toronto real estate is still behaving like it’s immune to COVID-19, hitting yet another all-time high in July. The average home price rose to $943,710, according to the Toronto Regional Real Estate Board (TRREB). That is a 16.9 per cent year-over-year increase, and 5.5 per cent higher than the previous record from last month. The new numbers were released just as Mortgage Professionals Canada (MPC) released a report suggesting most homeowners are not worried about…

From real estate to businesses, signs the pandemic is boosting wealth concentration: Don Pittis Them that has, gets, as those with deep pockets pick off choice assets Don Pittis · CBC News · Posted: Aug 10, 2020 4:00 AM ET Full article can be seen here: https://www.cbc.ca/news/business/covid-19-business-interest-rates-real-estate-1.5678541   A strong surge in the price of Canada's most desirable houses seems to fly in the face of an economy facing a record wave of bankruptcies and a sharp loss in jobs. But as we try to disentangle the complexities of the COVID-19 pandemic's impact, we may be observing a powerful economic force exacerbated by the promise of a long stretch of low-interest loans.   Effectively what we…

Toronto's real estate market smashes July sales record Jessy Bains Yahoo Finance Canada August 6, 2020 Full Article can be seen here: https://ca.finance.yahoo.com/news/torontos-real-estate-market-smashes-july-sales-record-183232182.html The Greater Toronto Area’s housing market seems almost immune to the crippling economic effects of COVID-19 right now. new data from the Toronto Regional Real Estate Board (TRREB). That’s a 29.5 per cent increase compared to the same month last year." data-reactid="24" type="text">July was a record-breaking month, with 11,081 homes sold, according to new data from the Toronto Regional Real Estate Board (TRREB). That’s a 29.5 per cent increase compared to the same month last year. “Sales activity was extremely strong for the first full month of…

No summer slowdown in Toronto real estate as July shatters sales record Anita Balakrishnan , The Canadian Press Published Thursday, August 6, 2020 5:15AM EDT Last Updated Thursday, August 6, 2020 6:46PM EDT Full article can be seen here: https://www.cp24.com/news/no-summer-slowdown-in-toronto-real-estate-as-july-shatters-sales-record-1.5053194 TORONTO - July was a record-breaking month for Toronto real estate sales, as a nearly 17 per cent price spike did not stop homebuyers from making offers. “Sales activity was extremely strong for the first full month of summer. Normally we would see sales dip in July relative to June as more households take vacation, especially with children out of school,” said Lisa Patel, president of the…

Toronto real estate market is headed for a cliff Condo supplies in Toronto will help drive home prices down further Article by: Radheyan Simonpillai Full article can be seen here: https://nowtoronto.com/lifestyle/toronto-real-estate-market-is-headed-for-a-cliff Toronto real estate prices are headed for a cliff. The condo market will drag it further down according to the Canada Mortgage and Housing Corporation (CMHC). “Anticipated increases in the supply of condominium apartments will lead to softening prices next year,” says the CMHC in an email to NOW. Toronto home prices hit an all time high in June. But the CMHC has been warning that those prices will begin plunging in the fall. Unemployment and low immigration…

This Toronto house just hit the market for $1 million Sean Davidson Multi-Platform Writer, CTV News Toronto @SeanDavidson Published Monday, July 27, 2020 8:53AM EDT Full article can be seen here: https://toronto.ctvnews.ca/this-toronto-house-just-hit-the-market-for-1-million-1.5040276 TORONTO -- If there was any hope that a global pandemic would help slow down Toronto's booming housing market this new listing proves that’s not the case. A tiny two-bedroom, one bathroom home on Euclid Street in Little Italy has just hit the market for $999,999.  The "rare detached bungalow located in the heart of Toronto" is advertised as being a "great size" with "loads of potential." The bungalow, which has a detached garage, is just steps away…

Windsor housing market booms during pandemic The region has seen nearly a 20 per cent jump in house prices compared to last year Tahmina Aziz · CBC News · Posted: Jul 27, 2020 7:00 AM ET Full article can be seen here: https://www.cbc.ca/news/canada/windsor/windsor-housing-market-booms-pandemic-1.5662862   Windsor-Essex's real estate market is red hot, according to Windsor real estate agent Aditya Soma who says he has never seen housing prices so high in the region. According to the recent report by the Canadian Real Estate Association (CREA), the average home price in the area is $401,465, which is an increase of $65,422 — or 19 per cent — from last June's prices.   Soma attributes part of…

Niagara Region housing prices climb as buyers leave Toronto in search of space By Anita Balakrishnan The Canadian Press Posted July 21, 2020 2:40 pm Full article can be seen here: Prices of newly built homes climbed higher in June as Toronto-area home-buyers fled the city in favour of wine country. Retirees, as well as remote workers, have boosted demand for new houses, driving prices up one per cent, the Niagara Home Builders’ Association said in Statistics Canada’s monthly survey of home builders. Toronto’s new home prices were steady in June compared to May, but surrounding areas saw a lift, with prices rising 0.7 per cent in Ontario’s…

Toronto housing prices up nearly 12 per cent despite pandemic Tara Deschamps The Canadian Press  Published Tuesday, July 7, 2020 8:22AM EDT Full article can be seen here: https://toronto.ctvnews.ca/toronto-housing-prices-up-nearly-12-per-cent-despite-pandemic-1.5013684 TORONTO -- Greater Toronto Area home sales are rebounding from the COVID-19 pandemic and prices are on the rise, but completed transactions are still short of where they were last year, the area's real estate board reported Tuesday. The Toronto Regional Real Estate Board said Tuesday that the number of homes sold in the region in June was just shy of the mark set a year ago as the average selling price rose nearly 12 per cent compared with June…

RE-OPENING CANADA: Toronto's real estate industry wants to boom again Jenny Yuen Published: July 4, 2020 Full article can be seen here: https://torontosun.com/news/local-news/re-opening-canada-torontos-real-estate-industry-wants-to-boom-again For the Toronto-area real estate industry, the beginning of 2020 was shaping up to be a record-setting year. And then the pandemic happened. According to the Toronto Regional Real Estate Board’s new Real Estate Market Economic Recovery Initiatives document, which will be released next week, real estate sales in the Greater Toronto Area (GTA) dropped 67.1% in April this year compared to the same time last year and was down by 53.7% this May compared to May 2019, but prices have remained relatively stable because…

Houses are Selling for Over Asking in Toronto at an Above-Normal Pace by Eric Wainwright Full article can be seen here: https://torontostoreys.com/houses-sold-over-asking-toronto-june/ Traditionally, spring is the hottest season for Toronto real estate. But, in case you haven’t noticed, 2020 has been anything but traditional. So, as we settle into the official start of summer, perhaps it shouldn’t come as a complete surprise that some of June’s resale numbers are beginning to compete with previous April and May averages. In other words, we seem to be enjoying a “delayed spring” in Toronto right now, as noted by Scott Ingram, a chartered accountant and sales representative with Century 21…

'Bully offers' eclipse virus woes in Canada's housing market Natalie Obiko Pearson, Jacqueline Thorpe and Sandrine Rastello, Bloomberg News Full article can be seen here: https://www.bnnbloomberg.ca/bully-offers-eclipse-virus-woes-in-canada-s-home-market-1.1408549 A week into a pandemic that has forced a swath of Canada’s economy to shut down and wiped hundreds of billions of dollars off the nation’s stock market, a Vancouver mansion sold for $150,000 over the asking price. As the coronavirus upends the real estate business, along with everything else, the country’s indefatigable buyers are taking some pause -- but, so far, not much. John Pasalis’ firm was getting ready to list a $1.1 million home in Toronto’s trendy Leslieville district next…

Toronto home sales, prices surge as buyers stampede back into the market Benchmark price for home climbs to $846,100 and realtors see it hitting $900,000 this year Bloomberg News Doug Alexander March 4, 2020 7:11 AM EST Full Article can be seen here: https://business.financialpost.com/real-estate/toronto-home-prices-roar-back-from-lows-as-demand-surges   Toronto home prices surged in February, and sales jumped from a 10-year low, as buyers stampeded back into the market. The benchmark price climbed 10.2 per cent in February to $846,100, the Toronto Regional Real Estate Board said Wednesday. The index gained 2.2 per cent from January, the biggest increase since April 2017. Most segments posted almost double-digit price growth with condos rising about…