Full Article can be seen here: https://beta.theglobeandmail.com/real-estate/the-market/canadian-building-permits-rise-for-first-time-in-three-months/article36874384/?ref=http://www.theglobeandmail.com& By: Janet McFarland New housing starts tumbled in the Toronto region in October as builders slowed the pace of new project construction amid market uncertainty. Canada Mortgage and Housing Corp. said 2,438 new housing units were launched in the Greater Toronto Area in October, a 42-per-cent drop from 4,204 units in the same month last year. Starts were also down 21 per cent over September on a seasonally adjusted basis. The downturn affected all housing types, with single-family detached home starts down 44 per cent in the GTA in October from a year ago, while condominium starts declined…

One of the major changes from the last quarter has been in Edmonton and Calgary. Both cities still score a "yellow" overall which is a moderate degree of market vulnerability but are in the red when it comes to overbuilding By: Garry Marr October 26, 2017 4:31 PM EDT Full Article can be seen here: http://business.financialpost.com/personal-finance/mortgages-real-estate/vancouver-toronto-and-3-other-canadian-property-markets-still-in-red-zone-cmhc Five key Canadian markets continue to have what Canada Mortgage and Housing Corp. calls a “high degree of market vulnerability,” according to a report out Thursday which also predicts a slowdown in construction. CMHC, the Crown corporation which advises the government on housing policy, says Victoria, Vancouver, Saskatoon, Hamilton and…

Full Article can be seen here: https://beta.theglobeandmail.com/real-estate/the-market/canadas-banking-regulator-raises-bar-for-uninsured-mortgages/article36611747/?ref=http://www.theglobeandmail.com& By : Janet McFarland and James Bradshaw Canada's banking regulator will move ahead with controversial new mortgage stress-testing rules in an effort to curb risky lending practices at banks, but critics say the changes will drive more borrowers to unregulated alternative lenders and add risk to the financial system more broadly. The Office of the Superintendent of Financial Institutions (OSFI) unveiled a final draft of new mortgage qualification rules Tuesday, tweaking its earlier proposal to ensure home buyers will not have an unintended incentive to sign up for shorter-term mortgages. The new rules met with criticism that OSFI is…

Published: Oct 17, 2017 1:58 p.m. ET By : Paul Vieira Full Article can be seen here: http://www.marketwatch.com/story/canada-to-impose-tougher-mortgage-rules-in-2018-2017-10-17 OTTAWA -- Canada's banking watchdog unveiled tougher mortgage-financing rules that take effect on Jan. 1 that real estate watchers and economists say could dramatically slow house buying and borrowing. The measures were first proposed in July, amid heightened concern over rapid house-price appreciation in the greater Toronto area, Canada's largest urban center, and surrounding communities in southern Ontario. Since the proposal, the Bank of Canada raised its benchmark interest rate twice, and governor Stephen Poloz said in July concerns over financial stability played a role in the…

Updates to OFSI residential mortgage lending guidelines are meant to ease risks of high household debt and real estate prices. Full Article can be seen here: https://www.thestar.com/business/real_estate/2017/10/03/stricter-mortgage-regulations-to-be-finalized.html By Armina LigayaThe Canadian Press Tues., Oct. 3, 2017 Stricter regulations aimed at tightening mortgage lending to take some of the risk out of the market will be finalized by the end of the month, the federal financial regulator said Tuesday. Final changes to the Office of the Superintendent of Financial Institutions’ (OSFI) residential mortgage lending guidelines, also known as B-20, will come into force two or three months afterward, its head, Jeremy Rudin said during a speech…

The measures will be aimed at ensuring banks lend money to home buyers who can manage loans even if interest rates rise, and reducing the banks’ reliance on loan-to-value calculations Full Article can be seen here: http://business.financialpost.com/news/fp-street/we-clearly-see-the-potential-risks-osfi-to-finalize-new-mortgage-criteria-this-month By: Barbara Shecter and Garry Marr October 3, 2017 6:41 PM EDT A package of proposed reforms aimed at cooling Canada’s housing market that includes controversial new stress tests for uninsured mortgages will be finalized by the end of the month, the head of Canada’s top bank regulator said Tuesday. A document outlining the changes to mortgage underwriting rules, governed by industry guidelines know as B-20, will be…

A CMHC study commissioned by Ottawa finds 75% of Vancouver's price gains are tied to fundamentals, versus 40% in Toronto, suggesting the Ontario city is an isolated trouble spot Bloomberg News October 6, 2017 11:16 AM EDT Full Article can be seen here: http://business.financialpost.com/real-estate/why-trudeaus-fight-to-cool-toronto-housing-is-an-uphill-battle Justin Trudeau’s Liberal government has been under pressure to rein in runaway home prices, but a study by the national housing agency suggests the prime minister will struggle to exert control over the real estate market in Canada’s largest city. Conventional economic factors including population, incomes and borrowing costs accounted for less than half of the 40 per cent surge in Toronto home…

By Greg Bonnell Full Article can be seen here: http://www.bnn.ca/why-the-worst-may-be-yet-to-come-for-toronto-housing-1.870952 Toronto’s housing market failed to stage the September comeback the real estate industry was hoping for, and a prominent mortgage industry expert is warning the “worst may be yet to come.” After a sharp pullback in sales and average prices in the wake of Ontario moving to cool the market, realtors were counting on the so-called back-to-school buyer to emerge and set the tone for the fall. “The market didn’t come back the way the industry was hoping it would,” Lauren Haw, CEO of Zoocasa, told BNN in an email. “We typically see a major…

Price drop as sales remain sluggish, particularly in detached houses segment. Full Article can be seen here: https://www.thestar.com/business/real_estate/2017/10/04/toronto-housing-prices-drop-for-fourth-month.html By Erik Hertzberg Bloomberg Theophilos Argitis Wed., Oct. 4, 2017 Toronto housing prices fell for a fourth month in September as sales remained sluggish, particularly in the detached-home segment that has borne the brunt of the correction in Canada’s biggest city. Benchmark prices fell 0.6 per cent from a month earlier, bringing declines since May to 8 per cent, according to data released by the Toronto Real Estate Board Wednesday. Realtors sold 6,379 homes, down 35 per cent from September 2016. Toronto’s housing market, which UBS Group AG called the world’s most overvalued,…

 By Katie Dangerfield National Online Journalist, Breaking News  Global News   Full Article can be seen here: https://globalnews.ca/news/3773995/toronto-housing-bubble/ The Toronto real estate market is not only overvalued, it’s the top city at risk of a housing bubble, according to a new housing report. On Thursday, the UBS published its annual Global Real Estate Bubble Index, which looked at 20 major cities at risk of housing bubbles. Toronto ranked the highest and Vancouver was third on the list. “The bubble risk seems greatest in Toronto, where it has significantly increased in the last year,” the report stated. Over the past five years, housing prices in Toronto rose…

Not enough evidence to support idea that vacancy tax would increase supply, board says Full Article can be seen here: http://www.cbc.ca/news/canada/toronto/treb-vacancy-tax-concern-1.4307302 The Canadian Press Posted: Sep 26, 2017 10:18 AM ET The Toronto Real Estate Board is urging the city to exercise caution regarding a possible vacant home tax. The board says it's worried there is not enough data or evidence to support the idea that a vacancy tax would increase the supply of rental housing. It urged the City of Toronto to take a measured approach to help to avoid any unintended consequences for the housing market and property owners. The board also raised the issue…

“The market remains well in balanced territory, able to withstand incremental declines in demand." Full Article can be seen here: http://business.financialpost.com/investing/trading-desk/the-canadian-housing-market-is-in-good-shape-and-so-are-the-banks By: Jonathan Ratner September 26, 2017 1:03 PM EDT Despite rising interest rates and various policy measures implemented to slow pricing growth, the Canadian housing market is not on track for a sharp decline. It nonetheless bears watching, as the domestic mortgage market is a big factor for the Canadian banks. This business accounts for anywhere from 30 per cent to 60 per cent of their total lending portfolios, with CIBC and Royal Bank having the greatest exposure among the Big Six Canadian banks,…

The move gives the 6,000-broker strong company a presence spanning coast to coast and makes it the largest, fastest growing non-bank mortgage originator across the country Full Article Can be seen Here: http://business.financialpost.com/personal-finance/mortgages-real-estate/m3-mortgage-group-acquires-verico-to-create-44b-loan-giant-amid-market-slowdown By: Garry Marr September 21, 2017 4:15 PM EDT Montreal-based M3 Mortgage Group, parent company of some of the most well known names in the residential mortgage sector, said Thursday it has added a major independent brokerage to its stable of companies in a move that grows its annual loan volumes from $25 billion to $44 billion. M3 Mortgage Group, which already owns Multi-Prêts Mortgages, Mortgage Alliance, Invis and Mortgage Intelligence, said the…

Super-luxury real estate hasn't plunged as deeply as lower price points, says Sotheby's. Full Article can be seen here: https://www.thestar.com/business/real_estate/2017/09/19/sales-of-4-million-plus-toronto-homes-poised-to-rebound.html By Tess Kalinowski Real Estate Reporter Tues., Sept. 19, 2017 It turns out that high-end real estate buyers — those willing to spend $4 million-plus on property — aren't entirely immune to the foibles of the Toronto housing market. But the super-luxury market hasn't suffered quite as badly as lower price points, according to the fall forecast being issued by Sotheby's International Realty Canada on Tuesday. It predicts "a brisk and active top-tier real estate market" in the fall, despite a pervasive plunge in home sales volumes…

Nearly 400 customers may have had their name, date of birth, phone number and email address revealed to others Full Article can be seen here: http://www.cbc.ca/news/canada/toronto/national-bank-error-customers-1.4298934 By Trevor Dunn, CBC News Posted: Sep 21, 2017 5:00 AM ET Hundreds of National Bank customers may have had their personal contact information and date of birth exposed online to other customers, the bank confirmed to CBC Toronto. The problem lasted for several days and may have affected "close to 400" customers across Canada, according to a statement from National Bank. "We were notified earlier this week of an issue related to an electronic form used on our website. The…

by Ephraim Vecina 20 Sep 2017   Full Article can be seen here: http://www.mortgagebrokernews.ca/news/boc-puts-a-hawkeyed-glare-on-the-impact-of-higher-rates-stronger-loonie-231181.aspx The Bank of Canada gave the strongest indication yet it is concerned about the Canadian dollar’s recent gains, with a top official saying policy makers will closely monitor the currency’s impact on the economy. In the bank’s first public remarks since raising interest rates two weeks ago, Deputy Governor Timothy Lane spoke to a business audience in Saskatchewan where he outlined the factors that went into that decision -- namely, stronger business spending and recent gains in foreign sales that had been helped by the Canadian dollar’s weakening in recent years. “We…

National housing market to see no more than 1.3% annual price gains but Toronto may buck the trend because of strong demand than flies in the face of affordability Full Article can be seen here: http://business.financialpost.com/real-estate/new-report-suggests-to-get-ready-for-several-years-of-housing-retrenchment-nationally-with-toronto-bucking-the-trend By Garry Marr September 12, 2017 5:20 PM EDT Single-family house prices may be overvalued by as much as 60 per cent in Toronto, but cooling measures may take a bigger bite out of markets away from the country’s largest metro area, says a new report. Moody’s Analytics maintains the brakes are being put on the housing market across the country and Canadians need to prepare for “several years of…

Interest rate hikes might be the last thing the housing market needs as sales in Toronto plunge and Ottawa considers even tougher measures for qualifying for loans Full Article can be seen here: http://business.financialpost.com/real-estate/after-rate-hike-canadian-housing-braces-for-biggest-rule-change-of-all-time By Garry Marr September 7, 2017 4:48 PM EDT It didn’t take long for the impact of rising rates to hit the market. People rushed to lenders Thursday to lock in contracts and get pre-approved mortgages after the Bank of Canada raised its overnight lending rate the day before. While the short-term impact of rising rates usually means a temporary buzz of sales activity, the larger concern is what two hikes in the…

News provided by LowestRates.ca http://www.newswire.ca/news-releases/consumers-rush-to-lock-in-mortgage-rates-ahead-of-bank-of-canada-rate-hikes-643712113.html TORONTO, Sept. 11, 2017 /CNW/ - The number of Canadians who applied for a fixed-rate mortgage in August saw a substantial spike, with 59.31% of users on the LowestRates.ca website opting for a fixed-rate mortgage over variable. Historically, the majority of Canadians who shop for mortgage rates on LowestRates.ca opt for variable-rate mortgages. Since January 2014, 56.56% of users have gone variable, compared with 43.44% of those who go fixed. The shift in August is seen as a reaction to the Bank of Canada's decision to raise interest rates. On July 12, the bank hiked rates by 25 basis…

Second summer rate hike will almost certainly act as a further drag on the Toronto housing market. By TESS KALINOWSKI Thu., Sept. 7, 2017 Full Article can be seen here: https://www.thestar.com/business/real_estate/2017/09/07/rate-hike-has-consumers-checking-mortgages-debt-load.html If the interest rate hike in July didn't register with consumers, a second quarter-point increase by the Bank of Canada on Wednesday has many borrowers taking a hard look at their mortgages and household debt levels, say mortgage specialists. "At the end of the day, the cost of borrowing will be higher whether the full quarter-point is passed on through prime,” said Bill Whyte, senior vice-president of Meridian Credit Union. “The banks have already raised…