Full article can be seen here: http://www.mortgagebrokernews.ca/news/canadian-real-estate-to-enter-cooldown-period-later-this-yearpoll-230325.aspx The vibrant pace of growth and activity in the Canadian residential real estate sector is likely to moderate quite a bit in late 2017 as well as early 2018, in large part due to the possibility of higher interest rates along with government policies aimed at chilling demand in major markets. This according to a recent Reuters quarterly poll of industry analysts nationwide, some from Canada’s biggest banks. The survey also found that the Canadian property market—flush from nearly a decade of cheap credit and sustained domestic and international demand—is expected to generate house price inflation in…

Whether or not central bank lifts interest rates, the impact of a rise is already in the market By Don Pittis, CBC News Posted: Sep 05, 2017 5:00 AM ET Full article can be seen here: http://www.cbc.ca/news/business/bank-canada-poloz-interest-rates-1.4271739 For millions of Canadians, whether or not the Bank of Canada increases interest rates tomorrow isn't merely a financial page headline. It's a matter of money out of their pockets. July's single quarter-point rise, the first in seven years, was easy to set aside as a quirky exception. But the notion of a second increase within two months suddenly changes the game. In the world of compound interest, especially for consumers who have pushed borrowing…

Original Article can be seen here: http://business.financialpost.com/personal-finance/mortgages-real-estate/new-mortgage-rules-could-depress-housing-demand-by-another-10-td#comments-area Demand for housing could be cut anywhere from five to 10 per cent because of tougher qualification rules being considered by Ottawa, according to a report by Toronto-Dominion Bank out Monday. The report from Beata Caranci, chief economist with the bank and Diana Petramala, also an economist, takes aim at a proposal from the Office of the Superintendent of Financial Institutions. The federal banking regulator is looking to crack down on non-insured mortgages – impacting people with at least 20 per cent down – by making those consumers qualify based on a rate 200 basis points above…

Full article can be seen here: http://www.ctvnews.ca/canada/non-buyer-s-remorse-toronto-sellers-frustrated-as-home-buyers-tack-on-demands-1.3541706 Meredith MacLeod, CTVNews.ca Published Friday, August 11, 2017 10:41AM EDT Some home sellers in Toronto are finding the buyers of their homes are trying to renegotiate the deals just days before closing. In this rapidly cooling real estate market, some buyers seem to be regretting how much they agreed to pay back in the hot spring sales season. In other cases, buyers aren’t able to secure financing because the home they are buying is not worth the price agreed when they signed the deal. Greater Toronto Area benchmark detached home prices peaked in April and have fallen 8 per…

John Gray, Producer, BNN Full article can be seen here: http://www.bnn.ca/rosenberg-toronto-housing-slowdown-is-good-for-canada-s-economy-1.824788 The recent dramatic drop in home sales across the Greater Toronto Area is good for Canada’s economy -- and may show the economy is finally moving away from a dependence on the real estate sector, according to Gluskin Sheff Chief Economist David Rosenberg. “We are going through a natural correction in Toronto real estate. I don’t think it’s going to have a deleterious impact on the national economy.  I think it’s actually going to be a positive development,” Rosenberg told BNN in an interview Tuesday. Home sales across the GTA plunged 40.4 per cent…

Here is the full article: http://business.financialpost.com/news/economy/with-all-signs-pointing-to-another-hike-heres-why-the-bank-of-canada-might-hold-off/wcm/d2d01f49-8f48-4ae3-913c-44c2f242ff4e By Gordon Isfeld OTTAWA — It was long in coming, seven years in fact. And now there are signs the next upward push on interest rates could still be farther down the road than first thought, despite a mostly improving economy. The Bank of Canada has already taken some flak for raising the cost of borrowing just as the economy is firing up — with some analysts cautioning against taking too much stimulus out of the system too soon. Granted, the July 12 rate increase, the first since 2010, had a long runway for take off. Governor Stephen Poloz and other…

Full Article can be viewed here: https://www.canadianmortgagetrends.com/2017/07/osfi-proposes-tighter-mortgage-underwriting-standards/ Steve Huebl July 7, 2017 Exactly one year after OSFI said it would review its B-20 guidelines and scrutinize underwriting standards further, the banking regulator made good on that promise. The Office of the Superintendent of Financial Institutions (OSFI) released various proposals on Thursday to further tighten mortgage underwriting standards at federally regulated lenders. The biggest change is the implementation of a stress test for all uninsured mortgages (those with a down payment of more than 20%). Under current banking rules, only insured mortgages, variable rates and fixed mortgages less than five years must be qualified at a higher rate. That…

Full article can be seen here: http://www.cbc.ca/news/business/realtors-housing-market-1.4231913 Canadian realtors brace for the end of the boom as housing market tightens By Andrea Hopkins, Thomson Reuters Posted: Aug 02, 2017 10:34 AM ET Canada's long housing boom has drawn thousands into the sector, from realtors and home stagers to construction workers, and a looming slowdown threatens to trigger an exodus that could wipe out many of those jobs and force the economy to shift down. While housing has long been the main engine of Canadian growth, economists say a drop in home sales has already started to weigh on the economy and if price declines follow, consumer…

How does the recent gain of the Canadian dollar affect you?

Full Article can be seen here: http://www.cbc.ca/news/business/still-a-borrower-s-world-what-this-week-s-rate-hike-means-for-your-finances-1.4204180 'Still a borrower's world': What this week's rate hike means for your finances By Jacqueline Hansen, CBC News Posted: Jul 15, 2017 5:00 AM ET After years of warnings that ultra-low interest rates can't last forever, the Bank of Canada finally raised its key overnight rate from 0.5 per cent to 0.75 per cent this week. "Don't panic, but this should be a real kick in the butt," said personal finance expert Kerry Taylor in a CBC News Facebook Live. The rate increase is relatively small, but it's enough to spark some hope that Canadians will start to do something about…

Toronto Condo Prices Soar 28%, Pass Half-Million Mark

Toronto home prices continue to trend downwards according to recent report from TREB

https://www.thestar.com/business/2017/07/18/government-measures-are-cooling-off-the-housing-market-morneau-says.html Article below direct from the Toronto Star OTTAWA—The federal finance minister says steps taken to tame Canada’s hottest housing markets have already helped slow down a sector he believes was moving at an unsustainable clip. Bill Morneau’s comments Tuesday follow this week’s release of data showing Canada’s home sales for June posted their biggest monthly plunge in seven years. The national figure was led by a drop in the Greater Toronto market. The new data provided the latest evidence that steps taken at federal, provincial and municipal levels have begun to temper the country’s real estate sector, particularly in the Vancouver and Toronto…

Bank of Canada announces quarter point rate hike

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Late Mortgage Payments in Ontario fall to the lowest since the 1990 crash
 

Survey indicating 30% of Toronto households plan to list their homes within the next 12 months

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