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What the Bank of Canada's Caution Means for Canadian Mortgage Rates ...Mar 13, 2018

When the Bank of Canada (BoC) met last week, it left its overnight rate unchanged, as expected. The only real question leading up to this meeting centred on the tone of the Bank's accompanying statement. ... read more

Investing In Yourself ...September 24, 2012

Many Canadians are getting into the market on their own as low mortgage rates make ownership easier to finance, and young people stay in school longer and get married later in life - or not at all - while baby boomers settle down on their own after a split. ... read more

Prevent Family Friction ...September 21, 2012

A visit to the bank of mom and dad is often necessary when buying a home, but it always pays to use a lawyer when lending money between the generations. Having a legal document that clearly outlines the agreement can help protect the parents, the child, any siblings and any spouse or future spouse. ... read more

Housing market demand depends on location ...Aug 07 2012

Analysts forecasting a drop in Montreal condo prices. New unsold condos piling up in Toronto. Vancouver home resales falling to the lowest level in July since 2000. The headlines appear grim, when it comes to the housing market in Canada's three largest real estate markets. While concerns about condo overbuilding are not lost on developers, demand still exists for mid-priced projects near public transit and other services, says Jordan Dermer, a managing partner at CD Capital Partners, which has real estate projects in Toronto and Montreal. ... read more

Finances first ...Aug 06 2012

A pre-approved mortgage can help you look for a home with confidence. Many homebuyers think that the first step in finding the home of their dreams is to start going to open houses and researching the market. Even before you start looking for a home, however, it makes sense to contact a mortgage specialist for free expert advice and to arrange your mortgage pre-approval. ... read more

Financing a home deal: New Rules ...Juley 13, 2012

On July 9, federal Finance Minister Jim Flaherty's latest round of new mortgage guidelines kicked in. Shortly after, the Office of the Superintendent of Financial Institutions announced it was getting closer to finalizing its new guidelines for federally regulated banks. What does it mean for you? If you aren't sure, you aren't alone ... read more

When real estate wrecks your retirement plan ...July 13, 2012

Real estate prices, it is said, are bound to rise. But prices are, in fact, cyclical and when they fall, as they have done for an Edmonton couple's rental property, they can wreck a retirement plan. ... read more

Toronto House market still Frothy ...July 12, 2012

Strong growth in Toronto's housing market helped push up the prices of new homes in Canada by 0.3% in May, a month before the government announced it was tightening mortgage rules, according to Statistics Canada data released on Thursday. ... read more

Prices fall but we still outshines global market ...Jun 13, 2012

Canadian housing market conditions have cooled slightly, with prices down nearly two per cent in the first quarter, but the country continues to outperform other developed nations, according to a new Scotiabank real estate report. ... read more

Slow but sure signs of life in U.S. housing market ...May 29, 2012

Could the U.S. housing market finally be finding a bottom? More and more, while still tentative, the answer looks to be 'yes.' ... read more

Average Canadian home price edges higher ...May 15, 2012

The average price of a home in Canada is now $375,810, slightly higher than year-ago levels. But behind the aggregate numbers are wide variations in what's happening with housing. ... read more

Why the BoC plays coy on interest rates ...May 08, 2012

As central banks go, the Bank of Canada is about as transparent as it gets. Former Governor David Dodge sought to demystify monetary policy for Canadians through an unprecedented 90-some speeches over his seven-year term. At the rate Mark Carney's speaking schedule is going, he'll have given just as many if not several more by the time his term ends in early 2015. ... read more

Flaherty to announce changes to CMHC ...Apr 25, 2012

Finance Minister Jim Flaherty will introduce legislation as early as Thursday that may contain changes to the oversight of Canada Mortgage & Housing Corp., Bloomberg News reports. ... read more

Get ready for an interest-rate increase ...Apr 25, 2012

Even though the Bank of Canada has not set anything in stone, it's wise to consider a future with increased interest rates. A hike means mortgage rates, lines of credit and other forms of borrowing money will get more expensive. That will deter some people from borrowing, and might cripple some segments of the population that have already borrowed too much. Debt that is affordable at today's rates may be unsustainable at tomorrow's. ... read more

Mortgage wars backfire ...Apr 18, 2012

Here's a little something to ponder before a bidding war: Will the bank agree with how much you just paid for that home? Appraisals are coming in below purchases price on some deals, with the potential to scuttle a transaction, lose a deposit or, at the very least, force buyers to look for other sources to cover the shortfall. ... read more

Top 6 takeaways from the BoC's decision ...Apr 18, 2012

Governor Mark Carney and the Bank of Canada, as expected, maintained interest rates at a stimulus-level 1% Tuesday. However, Mr. Carney's comments send the clearest and most hawkish signal yet that rates will be moving higher, but precisely when remains to be seen. ... read more

Flaherty touts economic record in speech ...Apr 11, 2012

Finance Minister Jim Flaherty says Canada has an advantage over the U.S. in dealing with the economy - it has a system of government that can make decisions. ... read more

TD upgrades Canadian economic outlook ...Mar 19, 2012

TD Economics has boosted its outlook for Canadian GDP largely because of the containment of the European financial crisis and the extended stimulus low interest rates are expected to provide to households. ... read more

Real estate rules don't discriminate ...Mar 19, 2012

Last week's $1-million sale of a modest bungalow in north Toronto to a university student from China got tongues wagging and tempers flaring about the supposed encroachment of foreign buyers into the Canadian real estate market. Stories of wealthy foreigners snapping up properties and pricing Canadians out of their local real estate markets abound. ... read more

Investment activity set to rise in 2012b ...Feb 29, 2012

Public and private investment plans for construction, machinery and equipment are up 6.2 per cent this year to $394.1 billion, Statistics Canada said Wednesday. ... read more

Housing prices flat or falling in fourth-quarter ...Feb 29, 2012

Canadian housing prices were flat or falling in the last quarter of 2011, according to the Teranet-National Bank house price index released Wednesday. ... read more

Toronto to Open Toronto Pop-Up Store Feb.23 ...February 17, 2012

Target, which will begin opening 125 to 135 stores across Canada next year, is opening a "pop-up" store in Toronto's garment district on Feb. 23 to showcase a limited collection by designer Jason Wu. The store is located at 363 King St. West in Toronto, and will be open for just six hours, from noon until 6 p.m. - or while supplies last. ... read more

Why Carney wil shrug off the uptick in prices ...February 17, 2012

Higher prices for necessities like gasoline and food are increasingly biting into family budgets, as wages in much of the country fail to keep up with the cost of living. ... read more

Could Scotia move out of Scotia Plaza? ...Feb 16, 2012

There's speculation in the real estate business that should Brookfield Office Properties win the bidding for Scotia Plaza, Bank of Nova Scotia could be moving out of the iconic red skyscraper. ... read more

Investors must focus on more than just yield ...Feb 16, 2012

Historic low interest rates in the past few years have forced investors to get aw-fully creative to find income: Everything from emerging market bonds to junk corporate debt and, yes, even dividend-paying stocks have become fair game. ... read more

Housing market shows further signs of cooling ...Feb 16, 2012

The Canadian Real Estate Association says the country's real estate market is "stabilizing", as it reported the sharpest slowdown in demand in almost two years. ... read more

Toronto tops New York in risk of condo bubble ...Feb 13, 2012

Toronto has more skyscrapers and high-rises under construction than any North American city - almost three times as many as New York - stoking debate on whether the condominium market in Canada's largest city is headed for a U.S.-style correction as prices rise and household borrowing hits a record. Canadian lenders including Toronto-Dominion Bank last week raised mortgage rates to cool off the housing market. ... read more

Canadian banks call truce in mortgage battle ...Feb 09, 2012

Canada's mortgage party has come to an abrupt halt. The bonanza of dirt-cheap mortgages offered by some of the country's biggest lenders in recent weeks has been shut down sooner than expected, as banks pull their offers in the face of higher funding costs and concerns over dwindling profit margins. ... read more

Regina's housing starts best in three decades ...Feb 09, 2012

Driven largely by the boom in multi-family construction, housing starts in the Regina area reached 277 units in January, more than double the 127 starts during the same period last year, the Canada Mortgage and Housing Corporation said in its monthly survey of residential construction Wednesday. ... read more

Burgeoning population to fuel demand ...Feb 09, 2012

A burgeoning population will spark another real estate cycle in Calgary with increased demand fueling more MLS sales and more new home construction. But industry experts don't expect the next cycle to mirror the boom of a couple of years ago which experienced a frenzy of activity and fast-rising house prices due to a lack of supply. ... read more

TD, RBC end 2.99% mortgage deals early ...Feb 09, 2012

After briefly offering record-low rates of less than 3% on some of its mortgages in response to its rivals, Canada's two biggest banks have pulled back their offers prematurely. TD Bank, Canada's second-largest bank, raised its special four-year closed fixed rate mortgage 40 basis points to 3.39%, effective Wednesday, while also introducing a special five-year closed fixed rate mortgage at 4.04%. ... read more

Flaherty concerned by mortgage lending ...Feb 03, 2012

Finance Minister Jim Flaherty said he shares the concern of Canada's top banking regulator that lenders are loosening their mortgage standards too much, but said any problems in the system are being corrected. ... read more

Is a 2.99% mortgage too good to be true? ...Jan 18, 2012

Bank of Montreal made headlines with the 2.99 per cent five-year mortgage it unveiled last week. Most of the other big banks have followed suit, but before signing on the dotted line you should read the fine print. These mortgages have restrictions that you won't find on other products. ... read more

Canadian commercial real estate market stable ...Jan 18, 2012

Benefiting from strong fundamentals, Canada's commercial real estate markets continued to enjoy stability and growth in 2011 despite global economic uncertainty, says a report released Wednesday by Avison Young. ... read more

Governments brace for higher debt costs ...Jan 12, 2012

Canadian governments are bracing for major changes to banking rules in the U.S. that would make it more difficult and expensive for them to borrow money, at a time when many need greater access to international investors to finance their debts. ... read more

That low credit score can cost you big bucks ...Jan 12, 2012

If a lending institution perceives that you are a credit risk, then your borrowing terms and conditions will be more onerous, and that could cost you thousands of dollars over the life of a loan, according to Tom Reid, director of consumer relations for ... read more

2012, Gains in Canadian home prices predicted ...Jan 12, 2012

Canada's housing market will continue to be strong this year, with rising property values expected in all major markets, real estate brokerage firm Royal LePage said Thursday. ... read more

RBC, BMO warn on housing ...Jan 10, 2012

The heads of Royal Bank of Canada and Bank of Montreal told an investor conference in Toronto Tuesday morning that a softer housing market is a concern across the country, with particular focus on the condo markets in Toronto and Vancouver, where capacity is significantly overbuilt. ... read more

Highlights from strong December housing starts ...Jan 10, 2012

Much of the surge in housing starts in the latest period can be attributed to the much-maligned condo market, with the volatile urban multiples component leading the way with a robust 14.5% increase to 111,300 units. Single-unit dwelling starts, by contrast, only increased by 3.8% to 70,600 units while rural starts dropped 10.3% to 18,300 units. Condos still king in 2011. ... read more

Debt still rising, but lower credit card debt ...Jan 10, 2012

Canadians are paying off more of their credit card debt as they cope with a weaker economy and some restrictions on credit expansion. The latest national credit trends report from Equifax Canada, released early Tuesday, says the average credit card debt fell in 2011 by 3.4 per cent. ... read more

Mortgage rules should be stricter : TD chief ...December 15, 2011

Less than a year after Ottawa forced the banking sector to cut back on risky mortgage lending, the head of one of Canada's biggest banks says the federal government should go even further. ... read more

Vacancy rate down in October ...December 15, 2011

It's getting harder to find a place to rent in the Calgary region. The fall rental market survey of the Canada Mortgage and Housing Corp. shows the city's apartment vacancy rate decreased to 1.9 per cent in October compared with 3.6 per cent in October 2011. ... read more

Europe will bring everyone down in 2012 ...December 14, 2011

As the European sovereign debt crisis continues to plague investors around the world, showing no signs of stopping, TD Economics has downgraded its 2012 forecast for global economic growth to 2.5%, a drop of 0.7 percentage points from its previous outlook. ... read more

Another tumultuous year looms, but don't panic ...December 14, 2011

The looming new year may well bring as much financial turbulence as tumultuous 2011 but global investors reckon "panic" is no longer an option and just protecting your money will require taking on at least some risk. ... read more

BoC holds rates, cites deeper euro crisis ...Decedmber 6, 2011

The Bank of Canada kept its overnight interest rate at 1 percent on Tuesday, as expected, and gave no suggestion of an impending rate cut even though its view of the European debt crisis has clearly darkened. ... read more

Housing market to continue to defy logic ...December 6, 2011

Even one of Canada's leading real estate companies agrees the rising housing market may not appear to make much sense. But appearances are deceiving and Re/Max says both sales and average prices will continue to climb in 2012. ... read more

Canada's building permits soar in October ...December 6, 2011

The value of Canadian building permits unexpectedly soared by 11.9% in October from September, as strength in the populous province of Ontario helped end three consecutive monthly falls, Statscan data indicated on Tuesday. ... read more

Fixed-rate mortgage could be your best bet ...Ddeecember 5, 2011

It's a decision that millions of Canadian homeowners struggle with repeatedly during their time as homeowners: Do they choose the security of a fixed-rate mortgage, or opt for the flexibility (and usually lower cost) of a variable rate and hope that rates don't spike higher? But right now, conditions in the mortgage market mean homeowners can actually get the best of both worlds, according to market-watchers. ... read more

How to qualify for a brand new mortgage ...November 14, 2011

If you have just graduated from university with student debts, the prospect of buying your own home may seem remote. Advisors suggest formulating a plan early on to help get on track to qualify for that mortgage. ... read more

Debt's dirty dozen danger signs ...November 14, 2011

If there's one plaintive cry you tend to hear again and again from credit counsellors, it's this: "If only our clients had come to see us sooner." By the time many people actually ask for help, their debt problems are so huge that their credit ratings are in tatters and some solutions may no longer be an option. ... read more

The downside of low interest rates ...November 10, 2011

Low interest rates may well represent the best way to stimulate a sluggish economy. But we're just waking up to the downside that can come from a prolonged period of rock-bottom rates. ... read more

BoC could slash rates in a big way next year ...November 10, 2011

As the nail biter in Europe continues this week, two economists are predicting the Bank of Canada will move to cut rates in a big way next year. ... read more

Merged mortgage accounts mean savings ...October 24, 2011

When it comes to finances, many of us are content to go the traditional route and have our mortgage, savings and chequing facilities in separate accounts. However, a number of financial institutions offer all-in-one products in which all these accounts are merged. Such accounts start off as a secured line of credit, advancing up to 80% of the value of the property, and as the mortgage principle is reduced, the available line of credit funds increase ... read more

To buy or to rent: that is the question ...October 24, 2011

In a report earlier this year, Royal Bank of Canada chief economist Craig Wright suggested home ownership for a growing number of Canadians has become an impossible dream. That's certainly true in Vancouver, where the affordability index is at record highs, with the average home price at nearly 10 times the median income. ... read more

Carney ready to take on the world's banks ...October 24. 2011

Carney, fondly described as "un-Canadian" by one Ottawa official because of a blunt and confrontational style, will replace the Bank of Italy's Mario Draghi, who takes over as president of the European Central Bank on Nov. 1. ... read more

Loonie inches up towards parity ...October 24, 2011

The Canadian dollar edged higher against its U.S. counterpart on Monday as investors bet on a positive outcome to the eurozone debt crisis and data from China came in strongly, spurring gains in riskier assets. ... read more

Wealth in Canada rebounds, now 8th in world ...October 20, 2011

According to the report released yesterday, Canada is eighth in the world in a ranking of aggregate household wealth, and 13th in terms of wealth per adult, at $245,000 (U.S.), compared to $248,000 in the United States. That's a sharp reversal from 2000, when Canadian mean wealth was just 56 per cent of the U.S. figure when expressed in U.S. dollar terms. ... read more

The Mark Carney bubble ...October 20, 2011

It takes guts to stand up in a room full of distinguished men and women and tell them their opinions are ridiculous. This is not a problem for Bank of Canada governor Mark Carney. In late September, he stood in just such a room at Washington's Institute of International Finance and publicly criticized the organization's own report contending that reforms to the financial system were hampering economic growth. ... read more

Piece ef Calgary history on sale for $5 million ...October 20, 2011

Owning a unique piece of downtown Calgary history isn't priceless. But it could run you $5 million. That's the asking price for a 50 per cent interest in the Burns Building, now listed on the city's commercial real estate market. ... read more

No interest rate rise until Q3 of 2012:Analysts ...October 19, 2011

The Bank of Canada will keep rates on hold until the third quarter of next year amid slow global growth and the risk that Europe's debt crisis will linger on, according to a Reuters survey released Tuesday ... read more

Canadian buillding permits plummet ...October 6, 2011

Building permits fell in August for the second straight month, with Ontario seeing the biggest declines in both residential and non-residential activity, Statistics Canada said Thursday. ... read more

Rental income, tax breads give REITs stability ...October 6, 2011

As a very wise man once said (I think it was Lex Luthor) stocks may rise and fall, companies may come and go, but people will always need land and real estate. ... read more

Flaherty rules out mortgage rule tightening ...October 6, 2011

"We have seen in the past year some softening in the Canadian housing market, in part due to the tightening of the insured mortgage market rules that we did earlier this yea... That's an appropriate result from that tightening," Flaherty said during a news conference. "It will take clear evidence of a bubble in the housing market in Canada, which we have not seen." ... read more

Wall Street protest grows as unions swell ranks ...October 6, 2011

Thousands of anti-Wall Street demonstrators converged on New York's financial district on Wednesday, their ranks swelled by nurses, transit workers and other union members joining the protest over economic inequality and the power of U.S. financial institutions. ... read more

Canadians are hooked on cheap money ...Sept 14, 2011

Canadians still don't seem to be getting the message about carrying excessive household debt. On Tuesday, Statistics Canada reported the ratio of household credit-market debt to personal disposable income inched up from 147% in the first quarter to 149% in the second. ... read more

BC MLS home sales, prices remain steady ...Sept 14, 2011

Home sales in B.C. remained stable in August as low mortgage rates was balanced by high numbers of active listings, the BCREA said Wednesday. According to the latest data, B.C. saw 6,504 MLS residential unit sales last month, up 16.4% from August 2010. The average price also climbed 10.7 per cent to $539,953. ... read more

Could Canada be first to stumble? ...Sept 13, 2011

Canada could become the first developed economy to stumble back into recession as businesses pull back on investment and inventory accumulation in the third quarter, Bank of Nova Scotia economists said on Tuesday. ... read more

Canadians fall deeper in debt ...Sept 13, 2011

Canadian household debt continued to rise in the second quarter as individuals took out more mortgages at historically low rates and obtained consumer loans, Statistics Canada said on Tuesday. ... read more

Income inequality rising quickly in Canada ...Sept 13, 2011

The gap between the rich and the rest is growing ever wider - with the chasm increasing at a faster pace in Canada than in the United States. ... read more

Loonie slips below parity as investors flee risk ...Sept 12, 2011

The Canadian dollar fell below parity against the U.S. dollar on Monday to its weakest level in more than seven months as risk sentiment continued to deteriorate on growing fears of a Greek default. Canada's dollar fell as low as 99.84 U.S. cents, its weakest level since Jan. 31. ... read more

What's in Canada's emergency toolkit? ...Sep 06, 2011

In the six weeks since the Bank of Canada's last meeting, markets have moved from pricing in a 25 basis point rate hike by the end of 2011 to roughly 50% odds of a rate cut. However, the threshold for a rate cut by the central bank remains high, according to Mark Chandler, head of fixed income and currency research at RBC Capital Markets. At the same time, he thinks any plans for "non-traditional" policies are very preliminary. ... read more

Rate pause expected, but cut could follow ...Sep 05, 2011

Will a cut follow the pause? The question of how long Mark Carney will wait before he raises interest rates has shifted to include the possibility he could reduce borrowing costs in the face of a global slowdown. ... read more

Home prices predicted to inch up next year ...Aug, 26, 2011

Sluggish economic and job growth will temper both prices increases and the number of sales into 2012, says the B.C. Real Estate Association. ... read more

To dream the impossible dream ...Aug 26, 2011

It's no secret that Vancouver has the highest cost of housing in Canada, so the release this week of Royal Bank of Canada's affordability index only confirmed what we already know. ... read more

CMHC expects condo vacancies to rise in 2012 ...Aug 25, 2011

The number of newly built condos sitting empty in Montreal is expected to rise next year, following record-breaking levels of construction in 2010, the Canada Mortgage and Housing Corp. said Wednesday. ... read more

Condo market paces Montreal sales in July ...August 15, 2011

While most types of properties throughout Canada in July took a dip in value from June, Montreal condos gained 3.7% to reach a median of $232,000 over the past month, according to the latest statistics from the Greater Montreal Real Estate Board (GMREB). ... read more

Housing prices expected to show dip in July ...August 15, 2011

The Canadian Real Estate Association reports monthly housing sales numbers for July on Tuesday, but it's the national association's long-term forecast that may provide greater clues into the state of the Canadian housing market. ... read more

BMO cuts forecast for U.S. ...August 15, 2011

The Bank of Montreal has trimmed its economic forecast for the United States for the second time in two weeks, citing a slew of factors including the recent debt downgrade, confidence concerns and market volatility, but fell short of forecasting a double-dip recession. ... read more

Calgary housing starts on the rise ...Augsut 15, 2011

Short-term and long-term expectations for housing starts in the Calgary region are positive, says the Conference Board of Canada. In its Metropolitan Monthly Monitors report released Friday, the board said the seasonally-adjusted annual rate for housing starts for the Calgary census metropolitan area was 5,977 units in July. ... read more

Banks shifting rate hike views in to 2012 ...August 2012, 2011

Canadian banks, which only last month expected the Bank of Canada to resume tightening this fall, are pushing rate hike forecasts into next year following some of the worst financial market turmoil since 2008. ... read more

Interest rates calm in turbulent times ...August 12, 2011

House hunters worried about being pushed out of the market by higher mortgage rates received a little good news this week. The turmoil inflicted on world financial markets over the last two weeks is taking the pressure off bankers to raise interest rates, something that was expected to happen this fall. ... read more

Wave of new stores tightens available space ...August 12, 2011

The wave of U.S. retailers expanding into Calgary will continue to grow, further tightening available retail space in the city, states a new report. ... read more

Bank of Canada faces interest rate dilemma ...August 11, 2011

Canada's central bank is due to make an announcement on rates in September, on the heels of the recent decision by the U.S. Federal Reserve Bank to keep interest rates south of the border low and stable for two years. ... read more

Victoria housing tilts toward buyers ...Aug 03, 2011

For house hunters, Victoria has become more of a buyers' market, according to statistics released Tuesday by the Victoria Real Estate Board. ... read more

Scrap the property transfer tax ...Aug 03, 2011

Originally intended to be a "wealth" tax when it was introduced in 1987, the British Columbia property transfer tax (PTT) is now charged on the majority of home purchases. In fact, 86 per cent of homes purchased in the province are subject to the highest tax rate of two per cent. ... read more

Avoid your own personal debt ceiling ...Aug 03, 2011

The global economy may have temporarily dodged a bullet with the 11th-hour raising of America's US$14.3-trillion debt ceiling, but individuals should draw some salutary lessons for their personal financial health. ... read more

Understanding The Implicatons Of Land Transfer taxes Across Canada ...Jly 22, 2011

Understanding The Implicatons Of Land Transfer taxes Across Canada ... read more

Heritage homes can be hassles ...Jul 20, 2011

When it comes to house hunting, many focus on just that - the house - but for some, location is key. You may wish to buy a piece of land to build your dream home, or move a heritage home to the piece of land you have just purchased. ... read more

Rate rises will be gradual, BoC signals ...Jul 20, 2011

The recent jump in Canada's inflation rate should be temporary and price levels will remain subdued even with a gradual reduction in monetary stimulus, the Bank of Canada said on Wednesday. ... read more

Dissecting teh BoC statement: A firmer tone ...Jul 19, 2011

As widely expected, the Bank of Canada announced Tuesday it will maintain its overnight rates at 1% for another month. However, parsing through the comments of Mark Carney, Bank of Canada governor, there are definite signs that the central bank is taking a firmer stance on plans to remove monetary stimulus sooner rather than later. ... read more

Toronto condo market soars higher ...Jul 19, 2011

New condominium sales in the Greater Toronto Area climbed 62% higher in June from a year earlier, according to Building Industry & Land Development Association. ... read more

Will the housing boom last indefinetly? ...July 8, 2011

Every time it seems the Canadian real estate market is about to be torpedoed by higher interest rates, events around the world conspire to keep a lid on increases and spur a new round of furious buying among house hunters. ... read more

Housing correction coming: Sharp or slow? ...July 8, 2011

The Canadian housing market is due for a correction, but it will likely be a slow decline rather than a sharp drop, says a report from the Canadian Imperial Bank of Commerce. ... read more

Canadian employment grows in June ...July 8, 2011

Economists, including Enenajoran, Ferley and Porter, said June's jobs data provide another reason to think the Bank of Canada will raise interest rates later this year. ... read more

Home price appreciation seen slowing in H2 ...July 7, 2011

The period of big rises in Canadian home prices has ended and appreciation in the second half of the year will be more moderate, the country's leading real estate broker said on Thursday after reporting a jump in prices in the second quarter. ... read more

Will Canada's 145th year be a good one? ...June 30, 2011

Canadians celebrating Canada Day 2012 will almost certainly be facing higher mortgage and other interest rates. Remember, a two percentage point rise on a 4% mortgage is essentially a 50% rise. As a result, many borrowers have been locking in their mortgages at fixed rates. ... read more

Cottage sales cool off amid grey days ...Jne 30, 2011

In Muskoka, real estate agents are just starting to see an improvement after a very slow start to the cottage-buying season. "I think the weather has played havoc with our market this year," says broker Anita Latner of Anita Latner Realty Inc. ... read more

Canada's growth stalls in April ...June 30, 2011

The Bank of Canada has held its trendsetting lending rate at 1% - a low level by historical standards - since last September. The central bank meets again in July to decide whether to hold the rate at its current level or begin raising borrowing costs - a move that analysts believe could begin soon. ... read more

Americas 15 worst housing markets ...June 30, 2011

If you bought a home in Miami in 2005, we're sorry: over the following six years it depreciated in value by more than 54.3%. And the rebound, if there is a rebound, won't come soon. ... read more

HST causing construction dip ...Jun 16, 2011

Developers and construction workers in Nanaimo and across the province hope that new housing sales will pick up once the fate of the Harmonized Sales Tax is decided. ... read more

Will housing market go the way of the Canucks ...Jun 16, 2011

Mark Carney came as close as any central banker ever could on Wednesday to saying some parts of the Canadian housing market are in a bubble. He also basically said there's not much the Bank of Canada can do to stop the frenzy. ... read more

Vancouver red hot in tepid market ...Jun 15, 2011

The Canadian real estate industry says the housing market looks like something out of Goldilocks because it's not "too hot and not too cold," but don't tell that to Vancouver buyers. ... read more

Vancouver housing pulls prices higher ...Jun 15, 2011

Prices climbed 8.6 per cent from a year earlier, but the Canadian Real Estate Association (CREA) said the national average of $376,817 was skewed by strong sales in "selected pricey" areas of Vancouver and broad price increases in Toronto, where supply is still tight given demand. ... read more

Strung out on a line ...Jun 06, 11

n the past decade, lines of credit have grown to become the largest chunk of our debt. A study released this month from credit-rating agency TransUnion found lines of credit were almost 41.5% of the average Canadian debt load of $25,597, not including mortgages. ... read more

Save thousands by selling your own home ...Jun 06, 11

For most people, a decision to sell their home is followed by a call to a real estate agent. But according to a recent poll, many Canadians aren't thrilled about making that call. ... read more

Buildiing permits plunge in April ...Jun 06, 11

The value of building permits plunged much more than expected in April, led by a big drop in Ontario activity, Statistics Canada said Monday. The federal agency said permits dropped 21.1 per cent during the month to $5.3 billion, following a revised 16.8 per cent increase in March and a 9.8 per cent rise in February. ... read more

Housing affordibilaty erodes, bound to get worse ...May 20, 2011

Housing affordability began slipping from the grip of many Canadians in the first quarter of 2011 following two back to back periods of improvement, RBC Economics Research said Friday. ... read more

Save for a big mortgage down payment ...May 20, 2011

When purchasing a house, most buyers have to finance the majority of the purchase price with a mortgage. The amount of money you put down upfront determines the size of the mortgage. Knowing how much of a down payment to save up for can be a tough decision. The larger the down payment, the longer you'll have to wait to own a home. However, there are several benefits to waiting to purchase until you have a substantial down payment. ... read more

House prices expected to grow 5% to 7% ...May 20, 2011

Short-term year-over-year price growth for Calgary's housing market is expected to be in the five to seven per cent range, says the Conference Board of Canada. ... read more

It's not BoC's jobto guide markets on rates ...May 20, 2011

The Bank of Canada is scheduled to make its next interest rate announcement on May 31, and my understanding is that the consensus of opinion among private sector analysts is that interest rates will remain unchanged, because there was no explicit warning of an increase in its April 12 decision. ... read more

Home equity considered a forced savings ...May 19, 2011

The 18th annual RBC home ownership study, released recently, found younger Canadians are more likely to purchase a home than other age groups, as 43% (aged 18-34) are looking to buy in the next two years compared with the national average of 29%. ... read more

Demand for luxury homes booming ...May 18, 2011

One of Canada's largest networks of real estate agents says demand for luxury homes is booming in several cities. Re/Max says the Greater Vancouver Area led the way with 747 properties sold in the luxury category in the first four months of this year. ... read more

World's most active real estate investors ...May 17, 2011

Canadian real estate investors were among the most active in the world in the first quarter, according to a study into capital flows from international brokerage Jones Lang LaSalle. ... read more

Five fastest ways to save for a down payment ...May 09, 2011

Saving money for a down payment on a home takes time, effort and patience. Having a large down payment can save thousands of dollars over time because the home owner will carry a smaller mortgage. A down payment over 20 per cent will also prevent a mortgage company requiring that you pay mortgage insurance premiums, an added expense that often gets amortized into the cost of the mortgage. ... read more

Don;t be tempted by U.S. fire sale ...May 09, 2011

Canadians have a piggy bank with a lot of money in it, making the fire sale going on in the United States housing market a great temptation. ... read more

Easing the tax hit for investment property owner ...Apr 21, 2011

Whether it's a duplex, a cottage or a Florida getaway, a second property can be a rewarding investment over time. But if you're not careful, it can prove taxing as well. A little planning goes a long way. ... read more

New real estate protectionism is misguided ...Apr 21, 2011

In the last two months, we've sold over 700 condos in Toronto. Sixty per cent went to Mainland Chinese buyers. In meccas like Richmond, 98 per cent of the hundreds of homes we've sold are to buyers who are Chinese. Even in White Rock, we sold 35 per cent of a new condo tower to buyers from Mainland China. For a new market like White Rock, that's a shocking number. ... read more

Gas prices 'sucking energy' out of Canadian households ...Apr 11, 2011

The long upward march in gas prices since late 2010 will be equivalent to a 7% hike on the income tax bills of Canadians in 2011, CIBC World Markets says ... read more

70 or bust! The case for raising the retirement age to 70 ...Apr 11, 2011

Society reaps three advantages by raising the retirement age: workers get more years of relatively higher wages; the government gets all that extra tax revenue while paying out less in benefits; and the economy grows faster ... read more

Canada's unemployment rate slips to 7.7% ...Apr 09, 2011

Canada's unemployment rate was little changed in March as gains in full-time work were offset by declines in part time positions. ... read more

Canada's first 2011 rate hike now seen in July ...Apr 08, 2011

The Bank of Canada is widely expected to make its first interest rate hike of 2011 in July, as it balances rising economic growth against tame inflation and a high-flying Canadian dollar ... read more

Housing starts jump in March: CMHC ...Apr 08, 2011

Canada's house construction jumped in March helped mostly by an increase in rural building. ... read more

RBC's U.S. retail bank may fetch $3.7B ...Apr 08, 2011

Royal Bank of Canada, Canada's largest lender, may get as much as $3.7 billion in the sale of its U.S. consumer bank, a fraction of what it invested in the money-losing business, analysts said. ... read more

Calgary house pricees headed for peak levels ...Apr 08, 2011

A commodity boom could see average home prices in Calgary flirt with record 2007 levels within two years, says a real estate industry analyst. Don Campbell, president of the Real Estate Investment Network, said price increases of five to seven per cent this year and another five to seven per cent in 2012 aren't out of the question if the economy produces a hot sellers' market. ... read more

Home sales fall but prices rise ...Apr 06, 2011

First-time homebuyers looking to avoid higher interest rates and tighter mortgage rules have helped to prop up the real estate market, says a new report. ... read more

First-time buyers helping to fuel real-estate ...Apr 05, 2011

First-time buyers are helping to fuel strong gains in t he property market as they seek to get a rung on the housing ladder before interest rates rise, according to a report by RE/MAX. ... read more

Real estate market braces for TMX-LSE merger ...Apr 05, 2011

The potential merger of the TMX Group, operator of the Toronto Stock Exchange, and the London Stock Exchange Group has sparked hot debate throughout the Canadian business community. ... read more

Tenants snap up office space in first quarter ...March 28, 2011

Vacancy rates improved in Canada's office and industrial markets in the first quarter of the year, according to CB Richard Ellis. The national vacancy rate for office space dropped to 9.3 per cent, compared to 10.1 per cent last year. Tenants leased 704,431 square feet of space, compared to 441,310 last year. ... read more

World would do weell to heed Carney's advice ...March 28, 2011

# Despite the geopolitical turmoil of recent months accompanied by renewed fears regarding the potential pace of economic growth slowing down - either as a result of inflationary pressures or the possibility of a deepening of the financial crisis in Europe - Bank of Canada Governor Mark Carney remains optimistic commodity prices will remain strong. # Canadian stores seen as ... read more

Canadian stores seen as takeover targets ...March 28, 2011

Well-known Canadian clothiers Le Chateau, Jacob and Reitmans could become takeover targets as a wave of U.S. retailers follows Target Corp's lead and seeks opportunities north of the border. There are plenty of reasons why Canadian retailers have become so appealing: the country's robust retail market, a healthy economy, proximity to the huge U.S. market, a common language and lower valuations of Canadian companies. ... read more

Common mistakes first time home buyers ...March 26, 2011

Applying for a mortgage and becoming a home buyer can seem overwhelming, especially if it's your first time. I have put together a blueprint of the most common pitfalls and how to deal with them, so that you can feel confident and prepared to take the first steps towards homeownership. Here are some of the pitfalls a mortgage specialist can help you avoid. ... read more

The CMHC: Canada's mortgage monster ...Mar 24, 2011

It's a familiar-sounding story to American ears. "The Canadian government mortgage apparatus echoes uncannily our experiences down here with Fannie and Freddie" says Jim Grant, author of the widely read Grant's Interest Rate Observer newsletter. "CMHC has distorted the housing market by making homes, especially ones that are on the pricier end of the spectrum, more affordable and encouraged a lot of people to get in over their heads." ... read more

BoC likely to keep rates low until summer ...Mar 24, 2011

The potential federal election is good news in one sense -- it likely ensures Canadians will enjoy super-low interest rates until at least the summer and possibly the fall. Many economists believe Bank of Canada governor Mark Carney was unlikely to move on interest rates at the next announcement date in April anyway, but say a federal campaign likely settles the question. ... read more

Global stocks recover quake lossess ...Mar 24, 2011

Global stocks inched higher on Thursday and are now higher than when Japan's earthquake and tsunami struck, buoyed by confidence that the world economic recovery remains on track. ... read more

Expect 5-7% short-term year-over-year growth ...Mar 23, 2011

Short-term year-over-year price growth is expected to be in the five to seven per cent range for Calgary, according to the Conference Board of Canada. In releasing its monthly Metro Resale Index on Wednesday, the board said Calgary's real estate market is currently classified as being under balanced conditions. ... read more

Foreign buyers juice resale housing market ...Mar 16, 2011

Wealthy buyers in Toronto and Vancouver are propping up the Canadian resale market, as their toughly fought multimillion-dollar bidding wars push prices higher even as sales of more ordinary homes slow across the country. ... read more

BMO offers green mortgage ...Mar 15, 2011

Starting today, Bank of Montreal will reward eco-friendly homeowners with a competitive new mortgage rate. BMO's Eco Smart Mortgage will offer a 3.89% fixed five-year rate for Canadians who choose energy efficient homes. ... read more

List prices on Calgary homes too high ...Mar 04, 2011

Sellers of residential property in Calgary need to adjust their expectations when they list their homes for sale and potential buyers, waiting for a U.S. style housing crash, won't see it happen, says a leading North American real estate expert. ... read more

A beginner's guide to U.S property ownership ...Mar 04, 2011

Most Canadians buying into the depressed housing market across much of the United States have little idea about different ways to own U.S. property, U.S. and Canadian income tax on rental income, Canadian capital gains tax on property that isn't a principal residence, and U.S. estate tax. ... read more

Nearing bubble territory, but cool-off expected ...Mar 04, 2011

Canada's housing market is reaching the limits of sustainability and could tumble if there is no moderation, the Bank of Montreal says. ... read more

Market sees 19% jump in sales volume ...Mar 03, 2011

Nanaimo's real estate market saw a 19% jump in year over year sales volumes in February, but the average selling price dipped slightly. Vancouver Island Real Estate Board reports month-end sales of 96 units for February, up from 81 sales reported by the proprietary multiple listing service in the same month a year ago. ... read more

Financial literacy has its limits ...Mar 03, 2011

Financial literacy has become a huge catchphrase, the one idea upon which consumer advocates and bankers, borrowers and lenders, even governments agree upon ... read more

Your home is not a cash register ...Mar 03, 2011

The Canadian government is concerned about a financial crisis similar to the one in the United States, where people were borrowing more than their homes were worth, paying for mortgages that exceeded the value of their home. ... read more

New rules prompt rise in home sales ...Mar 02, 2011

Single-family home sales and average prices were up in February compared with a year ago. According to the Calgary Real Estate Board, sales in the singlefamily market hit 1,169 transactions last month for an average sale price of $461,786. In February 2010, there were 1,035 sales for an average price of $458,254. ... read more

CREA cautions Ottawa on mortgage rules ...Feb 15, 2011

The Canadian Real Estate Association cautioned the federal government to stay out of the mortgage market until the effects of recent changes can be gauged, as it suggested buyers raced to secure 35-year mortgages in January before they are banned in late March. ... read more

Home sales pace hits 9-month high ...Feb 15, 2011

Home sales in Canada increased 4.5 per cent in January over the previous month, their highest seasonally adjusted point since last April. The Canadian Real Estate Association said Tuesday the Vancouver and Toronto markets led the way, but there were gains in more than half of all local markets during the month. ... read more

Housing market will be stable next two years ...Feb 10, 2011

A stronger economy will offset the effects of higher mortgage rates and keep Canadian house prices stable over the next two years, according to the Royal Bank of Canada. ... read more

New home prices still risiing ..... barely ...Feb 10 , 2011

New housing prices edged up 0.1 per cent in December, led by gains in Winnipeg, Halifax, Toronto and Oshawa, Statistics Canada reported Thursday. That compared with a rise of 0.3 per cent in the agency's new housing price index in November. ... read more

Rein in spending with debt management ...Feb 10, 2011

Believe it or not, debt isn't always a bad thing. Without debt, most people would never be able to buy their homes or vehicles. A lot of people couldn't afford to go to university to get their dream jobs. To better manage your spending, it's important to understand how debt works and how to use it to your advantage. ... read more

Mortgages for New Canadian Immigrants ...Feb 09, 2011

If you are a new immigrant to Canada, welcome! As a former world traveler, I know how daunting it can be to get settled in a new country, and if purchasing a new home is high on your list of priorities, today's post should help familiarize you with what's involved in securing a Canadian mortgage. ... read more

Average home prices here take marked drop ...Feb 04, 2011

The average sale price of a single-family house in Nanaimo has dropped 6%, from $363,093 to $340,492, from the same period last year, according to a report from the Vancouver Island Real Estate Board. ... read more

What's so great about Canadian jobs ...Feb 04, 2011

Markets were hit with positive dose of economic news as Canadian jobs data for January, a gain of 69,200 jobs, surged past all expectations (nearly 4.5 times greater than market consensus). Government of Canada bond yields climbed, with the 10-year note hitting a seven-month high. The Canadian dollar also traded higher ... read more

Using your RRSps to buy a house ...Feb 02, 2011

For couples like Jodi and Julian Echakowitz in Toronto, getting the down payment to purchase their first home was a matter of using their RRSP funds to their best advantage. In their case, it was withdrawing funds from their registered retirement savings plan to take part in the federal government's Home Buyers' Plan. ... read more

Why a rate won't be a blow to most ...Feb 01, 2011

Bank of Canada Governor Mark Carney and other policy makers have no doubt been scaring the pants off consumers who have loaded up on debt like there's no tomorrow. Well, there is a tomorrow, and that was their aim. ... read more

Economy grows quickest in 8 months ...Jan 31, 2011

The Canadian economy grew 0.4 per cent in November, the fastest pace in eight months, driven by expansion in the oil and gas, retail, real estate and financial sectors. ... read more

Lenders Expand Mortgage Options ...Jan 31, 2011

Most mortgage contracts allow homeowners the chance to skip a payment under these kinds of circumstances, but usually only once. Some allow a yearly deferral and others go as far as granting a four-month break, but only in a hardship scenario. Now, however, as banks, credit unions, monolines and other lenders vie for a piece of Canada's mortgage market, homeowners have a choice of increasingly flexible options. ... read more

Time to Leash the CMHC ...Jan 31, 2011

The federal government should limit tax payer exposure to potential problems in the housing market by winding back the role of the Canada Mortgage and Housing Corp. in the provision of mortgage insurance, according to a new report by the CD Howe Institute. ... read more

Why do we keep working after 65? ...Jan 31, 2011

About 40% of those who choose to keep working after the age of 65 say they do so because they haven't saved enough, a new Statistics Canada report on retirement has found. More than one-third of working seniors still had a mortgage on their homes, data from the 2009 Canadian Community Health Survey shows. That compares to one-quarter of partially retired Canadians with mortgage debt and 11% of fully retired. ... read more

Canada a magnet for global investors ...Jan 28, 2011

"Canada has what the world wants, quite frankly. That is stability, good governance, transparency and safety and those add up to a potent combination," said Grant Berry, managing director of government finance for RBC Capital Markets, ranked No. 1 in terms of Canadian investment banks in closing government-debt deals. ... read more

Potential buyers sit on sidelines - Calgary ...Jan 28, 2011

For several months now, potential homebuyers have been sitting on the sidelines. According to the Calgary Real Estate Board, as of Friday morning, there have been 710 MLS single-family home sales for an average price of $445,736 in the last 30 days. Current active listings numbered 3,079. Also there have been 263 condo sales in the last 30 days at an average price of $288,390 - the average being buoyed by the $4.1 million sale of a luxury penthouse in Eau Claire. Current active listings for condos stands at 1,613. ... read more

Mortgage deal revives stalled securities market ...Jan 27, 2011

Canada's moribund commercial mortgage backed securities market is awakening from a three-year slumber. Two major real estate companies are tapping the market for $206 million in the first deal of its kind since 2007, signaling that investors are returning to a sector they had abandoned over worries about the health of the country's commercial real estate market. ... read more

New mortgage rules: how you might lose out ...Jan 21, 2011

Joe is retired, 77 years old, living off small savings and government pensions. Joe also happens to live in a $1-million house with no debt. He and his wife love the house, they have been there 40 years, and don't want to move. He still remembers paying $100,000 for his house in 1971. Joe may not realize it, but the latest moves from the Minister of Finance, Jim Flaherty, have hurt his chances of meeting his retirement goals. ... read more

Resale house prices expected to climb 5-7% ...Jan 21, 2011

CALGARY - Short term year-over-year price growth expectations for Calgary's resale housing market is in the five to seven per cent range, according to the Conference Board of Canada. ... read more

"We're done witht he Canadian pes": Flaherty ...Jan 21, 2011

Canadian Finance Minister Jim Flaherty said on Friday he sees no return to the days of the "Canadian peso", saying the strong currency reflects confidence in the country's economy. ... read more

Will new mortgage rules trigger winter buying? ...Jan 17, 2011

The Canadian Real Estate Association is concerned that changes to mortgage rules will force Canadians to buy homes through the traditionally slow winter market rather than waiting until the spring. ... read more

Flaherty details new mortgage rules ...Jan 17, 2011

Concern over rising consumer debt levels is prompting Ottawa to make three new changes to Canada's mortgage rules. Finance Minister Jim Flaherty announced Monday that new federal rules will reduce the maximum amortization period to 30 years from 35 years for government-backed insured mortgages with loan to value ratios of more than 80 per cent. ... read more

Non-resident spending continues to rise ...Jan 17, 2011

Investment in non-residential construction rose two per cent to $10.5 billion in the fourth quarter from the previous three-month period, Statistics Canada said Monday. ... read more

Average BC home price hits record high ...Jan 13, 2011

The average price for a home in British Columbia reached a record high of $505,178 in 2010, the B.C. Real Estate Association says. Home sales fell 12 per cent last year to 74,640. The BCREA cited fewer active listings and increased consumer demand in a news release this morning. ... read more

Economy expected to grow over next two years ...Jan 13, 2011

The road out of the recession has been an uphill but by no means steady climb for Calgary's economy. But oil prices recovering to pre-recessionary levels, strong recent indicators of foreign direct investment and commercial real estate absorption rates are positive factors that will boost the economy. ... read more

US banks repossess 1 million home in 2010 ...Jan 13, 2011

The bleakest year in foreclosure crisis has only just begun. Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006. About 5 million borrowers are at least two months behind on their mortgages and more will miss payments as they struggle with job losses and loans worth more than their home's value, industry analysts forecast. ... read more

Xceed posts loss, won't accept new mortgages ...Jan 13, 2011

Xceed Mortgage Corp. said it would no longer accept new mortgage applications after posting an annual loss of $17.6-million, focusing instead on managing the $1.6-billion of loans already on its books ... read more

The $65,000 summer home ...January 4, 2011

When the North American housing market collapsed in 2008, Florida turned into foreclosure alley. With the loonie riding high against the U.S. dollar, housing prices in free fall and Canadian bank branches blooming all over the Sunshine State, real estate-savvy, vitamin D-deprived Torontonians smelled opportunity. Great bargains and warm weather aren't the only reasons Florida is turning into Toronto South: the recent buyers we talked to discovered there's much more to the state than strip malls, track suits and theme parks. ... read more

Office Market Rises Above Global Malaise ...January 4, 2011

It wasn't long ago that some industry experts were predicting challenging times for Calgary's downtown commercial real estate market. But a surprising thing happened this past year, companies were taking up space at a record amount. ... read more

Financial Need Delays Retirement Plans ...January 4, 2011

Seven in 10 Canadians plan to keep on working during retirement, with 38 per cent saying they'll keep toiling because they can't afford not to. But as the country's work force ages, that's not the only reason why people are staying on the job longer, according to a Bank of Nova Scotia poll released Tuesday. Of those who plan to work after retirement, 72 per cent say they want to remain mentally active, while 57 per cent want to stay socially connected. ... read more

Estate Tax Rises From The Dead ...December 31, 2010

If you're a wealthy U.S. citizen or a wealthy Canadian who owns property in the United States or holds significant U.S. equities in your stock portfolio, you may want to be extra wary of who's pouring your eggnog at Friday's New Year's Eve party. That's because in less than 24 hours, the dreaded U.S. estate tax will resurrect itself from the grave. In other words, die before midnight tonight, no U.S. estate tax. Die on January 1, 2011 or later and your heirs may face an estate tax of 35%. ... read more

Flaherty Named 2010 Business Newsmaker ...January 2, 2011

Canada's solid economic performance in 2010 helped make Finance Minister Jim Flaherty The Canadian Press business newsmaker of the year. With Flaherty at the helm, Canada's economy outperformed most others last year. ... read more

How Savers Can Find The Best Interest Rates ...January 3, 2011

Make it a priority to take advantage of tax breaks provided by vehicles as RRSPs and Tax-Free Savings Accounts. Shop around for the best savings rates and special accounts that help you accomplish your goals. Above all, escape the downward debt spiral. That means using your cash to pay off your credit cards and paying down your mortgage and other loans. ... read more

Year Marked Tale of Two Markets ...January 3, 2011

The only constant in Calgary's new homes market in 2010 was its tendency toward inconsistency. Talk to single-family home builders and, to a person, they will detail how erratic the year was in terms of sales and construction starts. ... read more

Carney Warns About Consumer Debt ...December 10, 2010

Mark Carney is issuing his starkest warning yet about the troubling levels of debt that households have piled up amid near record low borrowing costs. Many Canadians are increasingly vulnerable to shocks such as higher interest rates and job losses, in turn putting the wider financial system and economy at greater risk, the Bank of Canada Governor and his rate setting panel say in a semi-annual report. ... read more

Opening Bell: Markets rise on U.S. exports ...December 10. 2010

U.S. and Canadian stock markets continue to remain in positive territory on Friday, bolstered by good economic news out of both the U.S. and China. ... read more

Montreal Condo Sales Through The Roof ...December 10, 2010

It's not just new condominiums that are selling briskly these days in Montreal. Condo resales set a record for November, up three per cent from the same month in 2009, the Greater Montreal Real Estate Board said yesterday. ... read more

Use 'Some Caution' on Issuing Consumer Loans ...December 9, 2010

The Bank of Canada said Thursday the risk of a shock to Canada's financial system increased over the past six months, led by sovereign debt worries and widening trade imbalances, and warned record household-debt levels are "likely to deteriorate further" in coming quarters as wage growth stalls amid a slowing recovery. ... read more

Bank of Canada maintains overnight rate target at 1 per cent ...Dec 07, 2010

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Housing market to see 'greater stability' ...Dec 07, 2010

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. The residential real estate brokerage said there will be "greater stability" in the market in 2011, with the national average price forecast to rise by 3 per cent to $350,000. It expects sales to stall, however, with the same number of homes changing homes in 2011 as in 2010 - about 441,000. ... read more

Developing new measure of real estate's health ...Dec 07, 2010

The Canadian Real Estate Association is developing a new way to measure the health of the country's housing market as it seeks to replace its decades-old method of reporting average sale prices with something that more accurately reflects market conditions. ... read more

It's a tough time to sell a Condo ...Dec 02, 2010

Calgary's housing market continued to show signs of stagnation in November, with MLS sales down in both the single-family home and condominium markets compared with a year ago. The last few months have been a tough time to sell a property in the city. ... read more

Why Florida loves Canada ...Dec 02, 2010

Every year thousands of Canadians travel to Florida for a little fun under the sun. Yet with the U.S. housing market still sputtering from the fallout of the mortgage crisis, and the loonie at near parity with the greenback, more and more Canadians aren't simply heading south for a holiday: they're going to buy cheap property. ... read more

Montreal's recovery #1 in Canada, #27 in world ...Dec 02, 2010

Istanbul was Constantinople and now the former capital of the Roman Empire has emerged at the forefront of global economic recovery. A new ranking of 150 cities reveals the urban centres that have made the best rebounds from the global financial crisis that began in 2008. ... read more

Home affordability improves: RBC ...Nov 29, 2010

It became more affordable to own a home in Canada in the third quarter after a year of rising costs, according to a new report. RBC Economics Research found that lower mortgage rates and falling house prices in some places brought home-ownership within reach for more Canadians. The third quarter improvement in affordability reverses two-thirds of the damage accumulated in the past four quarters with affordability returning to 2009 levels, RBC said. ... read more

Making a return on your mortgage ...Nov 29, 2010

The 5 per-cent return on safe investments is back. It happened last week when major banks increased their posted mortgage rates. If you were lending money out for mortgages like a bank, you could get the same return. Here's how: Just use the money in your registered retirement savings plan to finance your mortgage ... read more

Canada tops commercial rental property taxes ...Nov 29, 2010

Commercial rental property owners in this country pay higher taxes than anywhere else in the world, according Taxand. The Luxemburg based tax advisory firm found Canadians spend on average "a massive" 53.85% of their rental income on taxes. ... read more

When older is not always wiser ...Nov 28, 2010

You may think your nest egg shrank because of the subprime mortgage disaster. Or maybe it was the general myopia, or a lack of oversight, in the financial industry. But have you considered that your investments took a hit because your portfolio manager is getting a little long in the tooth? ... read more

OECD forecasts sluggish growth for two years ...Novemebr 18, 2010

The slow North American recovery will chug along over the next two years, the Organization for Economic Co-operation and Development says, while warning that a weakening real estate market in both Canada and the U.S. poses a downside risk to the rebound. ... read more

Toronto homes that get an A- ...November 19, 2010

There's a new incentive for buying a house right now. A school with an International Baccalaureate diploma. Anecdotal evidence suggests that IB schools are behind a recent spate of bidding wars erupting in the GTA. Widely perceived as a private school perk, academically elite IB programs are increasingly on offer through the public system, and houses in neighbourhoods with IB schools already in place are reaping the benefits. ... read more

Look before you leap at cheap U.S homes ...Novemebr 19, 2010

What's not to like about U.S. house prices? With the loonie near par, giving you 28 per cent more purchasing power than in March 2009, median home prices in Phoenix coming in around $120,000 in September, but prices apparently firming up and new home sales the highest in four years, a lot of factors that scream "bargain!" are in place ... read more

Ways to capitalize on a sluggish housing market ...November 18, 2010

As the U.S. housing sector crashed, a handful of investors made billions of dollars because they had the foresight to short the market. Good luck trying that in Canada, where lending has been more conservative and banks tend to hold onto their loans rather than selling them off. But that doesn't mean that there aren't other ways to bet against the housing market. ... read more

How take on your bank and win ...Nov 12, 2010

aking on one of Canada's huge banks is a daunting prospect for the average consumer. But it can be done, and done successfully, if you know how the system works and follow the step by step path for moving your complaint up the line. ... read more

Look before you leap at cheap U.S. homes ...Nov 19, 2010

What's not to like about U.S. house prices? With the loonie near par, giving you 28 per cent more purchasing power than in March 2009, median home prices in Phoenix coming in around $120,000 in September, but prices apparently firming up and new home sales the highest in four years, a lot of factors that scream "bargain!" are in place. ... read more

Ways to capitalize on a sluggish housing market ...Nov 18, 2010

As the U.S. housing sector crashed, a handful of investors made billions of dollars because they had the foresight to short the market. Good luck trying that in Canada, where lending has been more conservative and banks tend to hold onto their loans rather than selling them off. But that doesn't mean that there aren't other ways to bet against the housing market ... read more

Together, but with separate bank accounts ...Nov 12, 2010

One of the most popular questions I get from people is about how to arrange bank accounts for a couple. Should they be separate? Should you just have one joint account? ... read more

Canadian mortgages top $1 trillion ...Nov 08, 2010

A new report says Canadian mortgage debt has spiked to over $1 trillion, largely as a result of high home prices and low interest rates. The Canadian Association of Mortgage Professionals says in its annual report that the value of outstanding mortgages is now 7.6 per cent higher than it was last year. ... read more

Calgary multi family starts soar ...Nov 08, 2010

Multi-family starts in the Calgary census metropolitan area soared in October to a level more than 90 per cent higher than a year ago. According to data released today by Canada Mortgage and Housing Corp., there were 438 multi-family units that began construction last month, up from 230 units in October 2009. ... read more

Dollar breaches 99cents (US) ...November 2, 2010

Several factors are pushing the loonie higher. Crude oil futures rose 1.4 per cent to their highest level in almost a month, while prices for other commodities such as copper also climbed. The Federal Reserve is mulling whether to increase quantitative easing, loosening monetary policy while the Bank of Canada is not. And investors widely expect the Canadian government will soon give a go-ahead for takeover of Potash Corp. of Saskatchewan Inc. ... read more

Calgary experienced development 'binging' ...November 2, 2010

Slowing, steady growth and decent prospects for Canadian real estate investors are in store for 2011 as long as the U.S. economy does not drag them down, according to the Emerging Trends in Real Estate 2011 report, released today by PwC and the Urban Land Institute. But the report says "Calgary must hope to recuperate from cooled demand and a touch of development binging." ... read more

Condos to provide good investment in 2011 ...November 2, 2010

Condominiums and greenbelt space will provide among the best investment opportunities in Canadian real estate next year, with the overall outlook remaining positive as long as U.S. woes don't spill over the border, a report found. It may also be the time to consider selling low-yielding assets in favour of buying properties in the U.S. as the market there recovers, the report by PricewaterhouseCoopers and the Urban Land Institute found. ... read more

The reverse mortgage quandry ...November 1, 2010

On the surface, reverse mortgages seem like the ideal solution for cash-strapped seniors. You can tap the equity in your home, you don't have to make any interest or principal payments, and the mortgage only comes due when you die, sell your house or move out permanently ... read more

The mortgage quandary ...Nov 01, 2010

On the surface, reverse mortgages seem like the ideal solution for cash-strapped seniors. You can tap the equity in your home, you don't have to make any interest or principal payments, and the mortgage only comes due when you die, sell your house or move out permanently. ... read more

How much will my home really cost? ...Nov 01, 2001

Once you know what kind of mortgage you want and the price of the house you can afford, you should add up all of the other costs involved in buying a house so that you know the true cost of buying your home. When you buy a house, it isn't only the cost of the house that you need to save for. Don't forget these other costs: ... read more

Real estate renovated ...Oct 31, 2010

It's akin to a land rush. But instead of land up for grabs, it's the right to sell land that is about to attract prospective real estate agents from far and wide. And why not? Total sales activity through the Canadian Real Estate Association's Multiple Listing Service was $150-billion in 2009. Even at a modest 4% commission - I sure didn't get a rate that low last time I sold my house - that's $6-billion worth of fees for the taking. ... read more

Own home affordable to most ...Oct 28, 2010

Many people are often surprised to learn that the costs of owning a home can be substantially lower or comparable to those of renting. There are also many financing options and a wide variety of choices that can make owning a home more affordable for first-time buyers. ... read more

Housing correction? Maybe - but not major ...Oct 28, 2010

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. In fact, there have been three during the past two decades, ranging from -6% to -12% at the national level, according to Stefane Marion, chief economist and strategist at National Bank Financial. ... read more

More homebuyers turn to mortgage brokers ...Oct 27, 2010

The percentage of Canadians using mortgage brokers to buy their homes has increased significantly, according to a report released today. "Over the last decade, an increasing number of viable options for borrowers have surfaced," said the report. "In addition to branch-based lenders, borrowers can now consult with the banks' own mobile mortgage specialists as well as independent brokers, while also conducting their own research online. ... read more

Home prices up 10% a year in August ...Oct 27, 2010

Canadian home prices rose just 0.2 per cent in August from July in the latest sign that prices are moderating across the country, according to the latest Teranet-National Bank composite home price index. ... read more

Deducing mortgage intrest takes fortitude ...October 22, 2010

There is a controversial tax strategy known as the Smith Manoeuvre that some people mistake for an investment strategy. While some financial institutions bar their advisers from advertising it, other advisers base all their marketing on it. So what's the deal? ... read more

Forclosures could spark, "mortgage mahem" ...OCtober 22, 2010

hree years after the U.S. housing meltdown, after mega-writedowns and bailouts, many of the largest banks are still buried in bad mortgages. A new report by Florida-based bank analyst Martin Weiss shows that JPMorgan Chase, Wells Fargo and Bank of America each have at least $20-billion (U.S.) in single family home mortgages that are in foreclosure proceedings. ... read more

Condo lifestyle choice for boomers and retirees ...October 22, 2010

According to the TD Canada Trust Condo Poll, almost half (48 per cent) of people 55 plus said that if they were to think about purchasing a new home, they would be very likely to consider a condominium. While a condo can be more affordable than a house, that is not the reason people over 55 choose condos. ... read more

Tough love for overspending, undersaving ...October 22, 2010

A common reluctance of both politicians and financial advisers these days has been in delivering bad news, that we could face lower standards of living and investment returns respectively. At least federal Finance Minister Jim Flaherty served notice that transfer payments to provincial governments for health care, education and social programs will be reduced to curb federal spending. ... read more

Canadian consumer confidence drops in Q3 ...Oct 21, 2010

Canadian consumer confidence declined for the third straight quarter with fewer people secure about their job prospects, feeling better off and expecting house prices to rise, a poll found. ... read more

Own home affordable to most ...Oct 20, 2010

Many people are often surprised to learn that the costs of owning a home can be substantially lower or comparable to those of renting. There are also many financing options and a wide variety of choices that can make owning a home more affordable for first-time buyers. ... read more

Bank of Canada rate cust not ruled out ...Oct 20, 2010

The Bank of Canada said Wednesday it doesn't rule out interest rate cuts in the future, but it said they would need to be "carefully considered." In its latest monetary policy report, the central bank said the economic outlook for Canada has changed. ... read more

Mortgages more complex for self-employed ...Oct 20, 2010

Securing a great mortgage deal can take a bit of work and planning, but if you are a salaried employee then you will be taking a well-trodden path. Experts and friends and family alike will all be there to offer advice and tell you about their experiences. However, if you are self-employed, the process can be more complex. ... read more

Money is on sale! ...Oct 15, 2010

Borrowing costs are lower than any time in modern history. This represents an incredible opportunity for those with the foresight (or fortitude) to take advantage. ... read more

September home prices steady, sales down ...Oct 15, 2010

The Canadian Real Estate Association said Friday that sales activity was up three per cent over August's level, but almost 20 per cent below the high volumes seen in September 2009. ... read more

Dollar edges near parity ...Oct 13, 2010

The currency's latest surge comes as prices for gold approaches a record while oil rose for a third day. Finance Minister Jim Flaherty's comments Tuesday are also lifting the loonie - he expects Canada will be the first G7 country to erase its deficit. Meantime, the U.S. dollar continued to slide after minutes yesterday from the Federal Reserve showed new stimulus will be needed to kick-start growth.. ... read more

New home prices edge higher ...Oct 13, 2010

Prices of newly built homes rose by an average of a 10th of a per cent in the month of August, Statistics Canada said Wednesday, surprising analysts who had expected a drop of that size. Statistics Canada said new home prices were unchanged in 10 of 21 metropolitan markets. ... read more

Canadians finding it difficult to save ...Oct 13, 2010

Saving money is becoming increasingly more difficult for Canadians. An RBC Savings poll released today says 38 per cent of Canadian are unable to save either because they have nothing left over after paying bills (30 per cent) or because they are impulse spenders (eight per cent). ... read more

Flaherty to present fiscal update Tuesday ...Oct 12, 2010

Finance minister Jim Flaherty will release the government's fall fiscal update Tuesday in Mississauga, laying out Ottawa's expectations for government revenue during a recovery that's proving to be slower than predicted. ... read more

Housing starts dip slightly in September ...October 08, 2010

Housing starts slipped to an annual rate of 186,400 units in September, down less than 3,000 from August's figure, Canada Mortgage and Housing Corp. said Friday. The drop was mainly due to fewer single-family homes being started, the agency said. ... read more

Nine signs you can't afford your mortgage ...October 08, 2010

While plenty of individuals live from paycheck to paycheck, most consumers know they should be saving money and reducing debt. The recession has drummed that concept into everyone's head as people have watched their neighbours and friends lose jobs and sometimes their home. Many people say that money worries keep them awake at night, but that doesn't necessarily translate to imminent bankruptcy. How do you know when you are truly teetering on the edge of a financial disaster versus simply needing to do a little belt-tightening? ... read more

Recovery still 'modest': Carney ...October 07, 2010

At a speech in Windsor, Ont., Carney said Canadians should brace for months of "modest" economic growth, acknowledging this will be reflected in the bank's revised forecast to be released Oct. 20, in which third and fourth-quarter estimates would be lowered. Any additional increases to interest rates in this environment would warrant "caution," he added. ... read more

Building perms plunge 9.2%it ...October 07, 2010

Contractors took out $5.7-billion in building permits in August, down 9.2 per cent from July, due to decreases in the non-residential sector, which outweighed increases in the residential sector. Statistics Canada reports municipalities issued $2.2-billion worth of non-residential permits, down 22.9 per cent from July. ... read more

Town and acreage MLS sales fall ...October 07, 2010

The residential MLS market outside the city of Calgary experienced a sharp decline in sales in September compared with year-ago levels. According to the Calgary Real Estate Board, sales in the towns outside the city fell by 33.42 per cent from September 2009 and sales in the country residential (acreage) market were down by 50.5 per cent. ... read more

Loonie tops 99 cents as greenback swoons ...October 07, 2010

The continuing slide in the U.S. dollar has pushed the loonie above 99 cents US for the first time in just over five months. The Canadian dollar has gained more than 5.5% against the U.S. currency since September alone. The greenback, meanwhile, has been on a sharp decline for the past four months as the U.S. economy has weakened and the market began to price in further quantitative easing by the U.S. Federal Reserve, expected in November. ... read more

Pending U.S. home sales rise 4.3% ...October 4, 2010

The number of Americans who signed contracts to buy homes rose in August for the second straight month but remained far below last year's pace. The weak economy and fears that prices will fall are keeping many consumers away from the housing market. ... read more

TD to build more U.S. branches ...October 4, 2010

After a string of acquisitions this year, TD Bank retail operations are now bigger in the United States than in Canada. But even if the pace of deals begins to slow in 2011, the bank's U.S. expansion will not, TD's chief executive officer says. Canada's second-largest bank expects to continue expanding in the U.S. by adding the equivalent of one small-scale bank a year through new branches TD plans to open itself. ... read more

Luxary home sales boom in Calgary ...Ocober 4, 2010

The sale of luxury homes remains a "bright spot" in Calgary's real estate market, says a report released today by Re/Max. The Re/Max Market Trends Report Fall 2010 said year-to-date (until the end of August) sales of homes over $1 million surged 25 per cent ahead of 2009 levels, 242 units versus 194 units, "as buyers take advantage of the current window of opportunity." ... read more

Fall housing market to improve ...October 5, 2010

Canada's housing market should return to "more normal" conditions this fall following a summer slowdown, a report from real estate firm Re/Max said Tuesday. The company, which overseas real estate agents throughout the country, said despite some improvement in the housing sector this fall, sales in most markets are unlikely to return to the brisk pace seen late last year. ... read more

Mortgage scammer guilty of 14 charges ...September 29, 2010

A man who helped orchestrate a massive mortgage scam in rural Alberta was found guilty this week of 14 fraud-related charges. James Keith Steinhubl, 47, was part owner of a company called Canadian Best Homes (also known as Canada Best Homes) that was found to have defrauded mortgage lenders between 2000 and 2002. ... read more

GDP shrinks, frist time in 11 months ...September 30, 2019

The Canadian economy shrank for the first time in 11 months in July, another clear sign of a slowdown, as factories, home builders and consumer activity all posted declines. The country's real gross domestic product contracted 0.1 per cent in the month, the first monthly drop since last August, Statistics Canada said Thursday. ... read more

New national realtity mortgage show premiering ...September 29, 2010

A new reality show called Burn My Mortgage is debuting Tues. Oct. 5 on the W Network. The program puts overspending families through a series of physical challenges designed to show a mortgage isn't a life sentence. ... read more

TD to build more U.S. branches ...October 04, 2010

After a string of acquisitions this year, TD Bank retail operations are now bigger in the United States than in Canada. But even if the pace of deals begins to slow in 2011, the bank's U.S. expansion will not, TD's chief executive officer says. Canada's second-largest bank expects to continue expanding in the U.S. by adding the equivalent of one small-scale bank a year through new branches TD plans to open itself. ... read more

Pending U.S. home sales rise 4.3% ...October 04, 2010

The number of Americans who signed contracts to buy homes rose in August for the second straight month but remained far below last year's pace. The weak economy and fears that prices will fall are keeping many consumers away from the housing market. ... read more

Flaherty may lift 2010 Canada revenue forecast ...October 04, 2010

Canadian Finance Minister Jim Flaherty's next budget update may increase forecasts for 2010 revenue, giving the governing Conservatives scope to pay for additional stimulus measures. Canada's economy will expand 3% this year, according to a Bloomberg survey of 13 of the 14 forecasters that Flaherty consults for the fiscal update. That's up from a 2.6% forecast in the March budget and would produce about US$20-billion more in output than earlier projected. ... read more

Mortgage tightening in works: Source ...October 04, 2010

The federal government is once again looking at tightening rules in the Canadian mortgage market, says a source close to the situation. Finance officials are set to meet in Ottawa today with some of the country's leading economists for pre-budget discussions and the subject of whether to tighten housing regulations may come up. ... read more

The Fed's second bubble ...September 29, 2010

At the recent Federal Open Market Committee meeting, Federal Reserve Board Chairman Ben Bernanke signalled that he plans to keep interest rates effectively at zero for as long as possible, and that he's ready to stand by with more quantitative easing (i.e. printing money) if necessary. ... read more

The Fed's second bubble ...September 29, 2010

At the recent Federal Open Market Committee meeting, Federal Reserve Board Chairman Ben Bernanke signalled that he plans to keep interest rates effectively at zero for as long as possible, and that he's ready to stand by with more quantitative easing (i.e. printing money) if necessary. ... read more

New national realty mortgage show premiering ...September 29, 2010

A new reality show called Burn My Mortgage is debuting Tues. Oct. 5 on the W Network. The program puts overspending families through a series of physical challenges designed to show a mortgage isn't a life sentence. ... read more

Cost of home ownership on the rise, report ...September 27, 2010

A new report says the cost of owning a home is increasing in markets across Canada, putting homeowners under duress as their mortgage rates rise. RBC Economics Research says higher housing prices and mortgage rates have been the driving forces behind the decline in housing affordability in the second quarter of 2010. ... read more

Downton Calgary vacancy rate highest ...September 27, 2010

Calgary's downtown vacancy rate has climbed to the highest level in the country among major markets but the commercial real estate sector also experienced significant activity in the third quarter "with a frenetic pace of leasing." ... read more

More Canadians shopping on Net ...September 27, 2010

The recession may have dented traffic at the malls, but it didn't daunt online shoppers. Four in 10 Canadians aged 16 and over used the Internet to place more than 95 million orders last year, up by a third from 2007 levels when they placed 70 million orders, Statistics Canada said Monday. ... read more

Ofice vacancy rates continue to climb ...September 23, 2010

Vacancy rates for office space across the country continued to climb during the third quarter, says a new report from CB Richard Ellis Ltd. The real estate company says the current improving market conditions are ideal for real estate investors. "The combination of limited new construction, available mortgage funds and low interest rates created near-perfect conditions for the commercial real estate investor to reenter Canada's market, bolstering both the office and industrial sectors," CB Richard Ellis said. ... read more

Calgary climbing out of recession ...September 23, 2010

It may not feel like the heady days of 2007, but Calgary is set to take back its spot as the nation's leader in economic growth. That's according to a Conference Board of Canada report Wednesday which predicts that, after being battered and beaten in 2009, Calgary's economy will be the country's growth leader from 2011 to 2014. ... read more

Tips for buying or selling your home ...September 23, 2010

Buying a home is not something to rush into; neither is selling. Yet, even after the latest slowdown in the pace of sales, there may be times when you will lose if you snooze. ... read more

Housing stocks: A m?oney pit ...September 23, 2010

Despite the steady drumbeat of negative headlines about the U.S. housing industry, a handful of the sector's stocks have sprung to life in recent days. But the lingering housing morass south of the border suggests some of the companies may be traps for the unwary. ... read more

Bubble or not, markets in anew awakening ...September 24, 2010

The Bank of Canada's decision to embark on a series of interest rate hikes is already throttling back on growth. Thanks to those hikes, we have a Canadian dollar that is at least a nickel above any realistic estimate of its fair value, and a pace of overall economic activity that is now falling at a surprising rate. ... read more

Forcast adds ato rosy outlook for Calgary ...September 24, 2010

Calgary's economic growth in the next few years will outshine even the nation-leading forecast released by the Conference Board of Canada this week, says the chief economist for the TD Bank. Craig Alexander, after addressing the Calgary Economic Development 2011 economic outlook event in downtown Calgary, told reporters the board's forecast may be too conservative, if anything. ... read more

U.S. weaknessof "concern" to Canada ...September 24, 2010

Bank of Canada Governor Mark Carney says that weakness in the U.S. economy is of "some concern" to Canada, even though the domestic market is returning to pre-recession peaks in both output and employment. The governor appeared on U.S. financial network CNBC to discuss Canada's economic position, and outlined concerns that growth here could be hurt by further U.S. weakness, mostly because its Canada's biggest trading partner. ... read more

Inflation rate dips to 1.7 per cent in August ...September 21, 2010

Canada's annual inflation is beginning to track lower again after an extraordinary spike in July that accompanied the introduction of a new harmonized sales tax in three provinces. Underlying core inflation, which the Bank of Canada uses to gauge price pressures in the country, was unmoved at 1.6 per cent, well below the central bank's two percent target. ... read more

U.S. housing starts hit 4-month high ...September 21, 2010

Construction of homes and apartments in the United States grew by 10.5 per cent in August, the Commerce Department reported Tuesday. The news comes a day after the U.S. National Bureau of Economic Research declared that the "Great Recession" had officially ended a year ago, Jennifer Lee, a senior economist with BMO Capital Markets, noted in a commentary. ... read more

Recession may have ended, but economy still in a big hole ...September 20, 2010

Two years removed from what many feared would be the total collapse of the world economic and financial systems, Canadians may be forgiven for asking, "What was the big deal?" The most severe global recession in six decades fizzled into a run of the mill slump in Canada lasting three quarters and costing just over 400,000 jobs, a mere 2.4 per cent of the labour force. ... read more

Canada's debt continues to mount ...September 20, 2010

Sure, we may not have riots in the streets like the ones Greece has experienced over the last year or so. True, the Harper government continues to tell Canadians that compared to many other countries we are doing much better. But that doesn't mean Canada is in great shape. "We're the least ugly contestant in the beauty contest," said William Robson, president of the C.D. Howe Institute. ... read more

Softer inflation figures support stimulus ...September 20, 2010

Inflation numbers due Tuesday may spark another round of discussion on what the Bank of Canada should do next time it's required to make a call on interest rates. Economists polled by Bloomberg have a median forecast for a year to year gain of 1.9 per cent in Statistics Canada's consumer price index for August, up from 1.8 per cent in July. ... read more

The best bankers ...September 20, 2010

Dull, gray, boring, almost as colourless as the Finns ... at least according to some surveys. So Canadians might not be first on the invitation list to your next kegger. But if you are going to run a good bank, you want Canadians. You want grey flannel suits, people who think adding up a column of figures is fun, who parse your assets and income so that you will be able to pay off your mortgage and the bank will get its money. Bankers are the mayonnaise of business entrepreneurialism. ... read more

Canadian outlook is largely about commodities ...September 17, 2010

Canada and the U.S. have been in recovery since the third quarter of 2009. However, the pace of growth has slowed in both countries. Canada had its strongest recent quarter in the first three months of this year, at 5.8%, although the gain in fourth-quarter 2009 was also solid, at 4.9%. In this year's second quarter, Canadian GDP growth fell back to 1.6%, a similar pattern of deceleration as occurred south of the border ... read more

Home economics ...Sep 17, 2010

Housing has an enormous economic impact. Not only is a house likely to be our single largest purchase, it becomes almost a life-long financial burden. Rock-bottom interest rates, created to ease the Debt Crisis of 2007-08, have prompted Canadians to jump into the housing market. Accordingly, household debt levels have risen to almost alarming heights. A collapse of the Canadian housing market is unlikely, but, even if rates simply return to historical levels, it could spell problems for many people. ... read more

How to show a property with renters ...September 17, 2010

When it comes time to show your home to potential buyers, you will likely have it in the best possible shape. Perhaps you sent the kids to their grandparents, or left your yappy dog with a neighbour during viewings. However, if you are selling a rental property, you can't ask the tenants to ship out their kids or pets every time you give them 24-hours' notice that a potential buyer will come knocking. ... read more

Slumping Market and tougher mortgage rules ...September 17, 2010

Federal Finance Minister Jim Flaherty said Thursday he is not concerned about slumping housing sales in some Canadian markets and has no plans to reverse mortgage restrictions imposed earlier this year. Housing sales plunged dramatically last month in cities such as Calgary, Victoria and Greater Vancouver compared with one year ago. ... read more

Canada and household debt ...September 16, 2010

Much has been said recently about how Canadian families are ringing up huge amounts of debt, and consumers have been warned repeatedly that they may be in over their heads as interest rates rise. A snapshot of the developed countries by Scotia Capital today shows just where Canada ranks in terms of leverage: As a share of total household assets, Canadian families are carrying more debt than those in five of the G7 countries. Only the United States ranks higher, and American consumers are beginning to get their act in gear after the recession ... read more

Top five signs of a bad real estate agent ...September 16, 2010

f your home is listed for sale and it just won't sell, it may not be your real estate agent's fault. However, there are many ways to gauge if your agent is doing a good job. Here we look at some of the top signs of a bad real estate agent. ... read more

Home prices sag in August ...September 15, 2010

Average resale prices deflated in August, marking the third drop in a row, though housing activity unexpectedly picked up in the month. Resale prices fell to $324,928 in August from $330,351 in July, the Canadian Real Estate Association said Wednesday, and are now 6.3 per cent lower than the record levels they reached in May. ... read more

Why it's crucial to check your credit report ...September 15, 2010

You don't want to hear bad news while in the midst of negotiating a time-sensitive loan. So, you should know what secrets might be lurking in your credit files. Under provincial laws, you have the right to check the credit reports in your name held by Canada's two credit reporting agencies, Equifax and TransUnion. You don't have to pay a fee and you can do it as often as you like, as long as you ask for the report to be delivered in the mail ... read more

Ten habits of highly effective investors ...September 14, 2010

Real estate has long been regarded as a sound investment. Wholesaling and property management of commercial and residential property are just a few of the ways investors can profit from real estate, but it takes a little savvy to become successful in this competitive arena. ... read more

Road to recovery filled with economic potholes ...September 14, 2010

The economy may be on the slow road to recovery, but the effects of last year's recession linger. Several economic reports released Monday indicate Albertans and Canadians are not out of the woods yet, particularly on a personal level. ... read more

Of health and houses: Think again ...September 14, 2010

For people and for countries, a particularly dangerous time is when you're patting yourself on the back for avoiding the dumb mistakes your neighbour just made. That's true of Canadians, just now, as we bask in the relief of having largely dodged the twin bullets of banking and housing crises that continue to weigh heavily on the U.S. economy. ... read more

Housing market remain vulnerable ...September 13, 2010

Bloated debts and rising interest rates threaten to force a growing number of families to cut back and prompt Ottawa to intervene again to cool down the mortgage market. Canadians have spent the past year rushing into a housing market fuelled by low mortgage rates, despite prices many could not afford if rates were to rise to more historically normal levels. About 375,000 homeowners are already being forced to cut spending in other areas, despite ultra low rates, the Canadian Association of Mortgage Professionals said in a recent report. A further 475,000 would find themselves in the same position if rates were to climb to 5.25 per cent. ... read more

Canada's housing market to slow, not stop ...September 09, 2010

Canada's housing market will stall in the coming months but not tumble anywhere close to what occurred in the United States during the recent recession, according to a new report from the Conference Board of Canada. That is because valuations and activity in Canada's residential market grew at a blistering pace over the past decade and were due for some sort of short-term decrease, commonly referred to as a correction. ... read more

Housing start, prices fall in summer ...September 09, 2010

New building and price data out Thursday underscores just how quickly the Canadian real estate market is cooling, with economists cautioning the softness is here to stay and is likely to drag on economic growth. August saw a 3% drop in nationwide building activity after prices dipped 0.1% in July. ... read more

Calgary housing starts supass 2009 levels ...September 09, 2010

Total housing starts in the Calgary census metropolitan area so far this year have surpassed production levels for the entire 2009. According to data released today by Canada Mortgage and Housing Corp., total housing starts in the Calgary region reached 858 units in August, up from 548 units in the previous year. To the end of August, total housing starts increased from 3,284 units in 2009 to 6,641 units in 2010, surpassing all of last year's annual production. ... read more

TSX climbs on good news from U.S. ...September 09, 2010

Markets opened higher on positive economic news from the U.S., despite worse than expected housing and trade numbers north of the border. "Cooling housing markets are a big part of why domestic economic activity is slowing in Canada," Pascal Gauthier, senior economist at TD Bank Financial Group said in a note."We expect residential investment to drag on real GDP for the next five to six quarters before picking back up in 2012." ... read more

Housing: Bubble or no bubble? ...September 08, 2010

As Canada's housing market softens, the question for many homeowners is how much prices might decline. The Conference Board of Canada waded into the debate Wednesday, saying there will not be a "free fall" in the market but rather a pause in what has been, in recent years, rapid price increases. ... read more

Carney hikes rates, cites uncertainty ...September 08, 2010

Bank of Canada Governor Mark Carney raised his benchmark interest rate for the third straight time Wednesday, but left himself room to pause at his next scheduled decision by saying that while borrowing conditions in Canada remain "exceptionally stimulative," the overall economic climate is fraught with "unusual uncertainty." ... read more

Not too late to block tax hike ...September 07, 2010

Like millions of school-aged children across Canada, Members of Parliament are returning from vacation to find a stack of information waiting for them. With any luck, it won't be about running in the halls of Parliament and the dress code for Question Period, but instead will contain an earful from entrepreneurs and working people worried about the Harper government's first major tax increase. ... read more

Calgary Housing Sales tumble ...September 2, 2010

An increase in active listings, combined with a cooling in housing demand, has started to push prices down in Calgary's residential real estate market. Data released Wednesday by the Calgary Real Estate Board show single-family home sales fell by just over 32 per cent in August compared with a year ago while condominium transactions plunged by more than 42 per cent. ... read more

The end of Canadian real estate insanity ...September 2, 2010

A New York Times headline caught my eye the other week: Housing Fades as a Means to Build Wealth, Analysts Say. The article went on to report that, while most real-estate experts believe the U.S. housing market will recover from falling off the cliff, many also feel that home ownership will never again produce the rich rewards enjoyed in the second half of the 20th century. There was something about the piece that made me think: Maybe this isn't all bad. But is it true? And does it apply to Canada? ... read more

Condo prices slice under six figures ...Swptember 1, 2010

A slew of Calgary condominiums are selling for less than $100,000. For the first seven months of this year, 17 condos sold for less than that. Not one property went for that low a price in the same period last year. "That's cheaper than rent," real estate agent Dal Dhillon told CBC News on Tuesday in a boxy one-bedroom condo listed at $103,000 and expected to go for less. ... read more

Buyers gainthe edge in local resale housing ...September 1, 2010

Expect a buyer's market for Edmonton-area resale homes in the remainder of 2010 with more balanced conditions next year, says a new report released Tuesday by Canada Mortgage and Housing Corp. CMHC forecasts Edmonton area MLS sales to slide to 17,000 in 2010, with the average sale price at $333,000, up from $320,378 last year, says CMHC's second quarter Housing Market Outlook. ... read more

Housing starts will slow: CMHC ...August 31, 2010

he growth rate for housing construction will slow over the last six months of the year, Canada Mortgage and Housing Corporation said Tuesday in its second-quarter outlook. The federal agency, which bases its outlook starting in June, also forecast the rate of housing starts in 2011 will stabilize and grow at the same rate as the population. ... read more

Housing bublle threatens in six cities: Report ...August 31, 2010

A perfect storm has created a housing bubble in Canada that could lead to a drop in property value of nearly 40% in some markets, according to a report by the Canadian Centre for Policy Alternatives. For the first time in 30 years, house price increases have climbed faster than historic comfort levels in Toronto, Vancouver, Calgary, Edmonton, Montreal and Ottawa, the think-tank said. ... read more

Boomers upsizing their downsiziing plans ...August 31, 2010

While some baby boomers have their sights on the simpler, "lock and leave" condo lifestyle, others are finding that life doesn't always work the way they planned, says Laura Parsons, area manager specialized sales for BMO Financial Group in Calgary. ... read more

Economy sputters in second quarter ...August 31, 2010

Economic growth slowed more in the second quarter than the Bank of Canada and most analysts had anticipated, as imports increased faster than exports, and spending by consumers and governments slowed. ... read more

The four rules of the family CFO ...August 24, 2010

# In Your Life & Your Money, Scott Feher explains how to get your family to agree on a financial plan. Once you have a mission statement, you can start acting as your family's CFO. The job has many dimensions, of course, but there are four basic rules. ... read more

BMO posts Q3 profits below ...August 24, 2010

# Bank of Montreal today posted third quarter results that were below analyst expectations amid poor performance from its capital markets operations and rising loan loss provisions at its U.S. subsidiary. For the three months ended July 31, BMO had net income of $669-million, or $1.13 a share, up 20% from a year ago. ... read more

U.S. home sale diive roils markets ...August 24, 2010

Sales of previously owned U.S. homes dropped more steeply than expected in July to their lowest pace in 15 years, an industry group said Tuesday, implying further loss of momentum in the economic recovery. ... read more

Seven must-have real estate contract conditions ...August 23, 2010

When you formally make an offer on a home you want to buy, you'll fill out a lot of paperwork specifying the terms of your offer. Aside from such obvious things as the address and purchase price of the property on which you're making an offer, there are some items you should be sure to include in your real estate purchase contract. ... read more

Investors focus moves to bank earnings ...August 23. 2010

Investors will likely find few reasons to send stock markets higher this coming week as U.S. economic growth data at the end of the week will likely serve as a reminder of how conditions in the world's biggest economy are deteriorating. There are high hopes from a slew of earnings coming from the big Canadian banks. But while they're expected to hand in solid numbers, it could be a stretch for them to improve or even meet the results from the previous two quarters. ... read more

Life insurance can provide tool to many things ...August 23, 2010

Life insurance can be a tool to provide for everything from paying final expenses, retiring a mortgage, income replacement, to a tax sheltered investment, and everything in between. Life Insurance can provide individuals with piece of mind, whether it be protecting their family, estate planning or solving a tax problem. There are many uses for business owners whether it be protecting against the loss of a key person to funding buy-sell provisions of shareholder agreements. Often insurance is the least costly solution to a problem. ... read more

Even experts dazed by mortgage confusion ...August 21, 2010

Last year, mortgage rates were predicted to start rising this year, which resulted in higher than expected homes sales. But, fixed rates have been on the decrease for the past seven weeks, with Canada's major bank staking them down another 0.10% this week. ... read more

Major banks announce cuts to mortgage rates ...August 17, 2010

One day after a report showed Canadian housing sales were down 30 per cent, most major banks announced they were cutting mortgage rates. Most banks trimmed mortgage rated by one tenth of a percentage point, effective Tuesday morning. The move brings the five-year closed rate down to 5.49 per cent. ... read more

U.S. needs to reset mortgage mess ...August 17,2010

Washington faces a mortgage market conundrum. A conference today hosted by the U.S. Treasury is supposed, finally, to start addressing what to do with Fannie Mae and Freddie Mac. But the bunch of fixes proposed by regulators and lawmakers in attempts to make private home loans safer is causing other problems. ... read more

Proposed changes to business mortgage terms ...August 17, 2010

Canada's finance minister is proposing legislation that would make it easier for businesses to negotiate mortgages terms with lenders. Finance Minister Jim Flaherty wants to tweak the Interest Act to reflect companies in all shapes and sizes more favourably. Under the act, only corporations and joint stock companies can negotiate with lenders the penalty for paying off a long-term mortgage sooner than agreed. ... read more

House prices now forecast to stagnate ...August 16, 2010

Canada's housing market is sinking, as expected, having surged in the first half of the year as real estate staged a spectacular post-recession comeback. Sales of existing homes fell 30 per cent in July from a year earlier, while the average resale price dipped 3.5 per cent, the Canadian Real Estate Association said today. ... read more

5 questions for your estate representative ...Aug 12, 2010

Selecting a real estate representative to assist in the largest financial transaction a person will likely ever make is a critical part of the home selling process. In a challenging economic environment where competition among real estate companies is on the rise, choosing the agent that's right for you can be a confusing task. ... read more

Fixed vs Variable ...Jun 12, 2010

With today's prime rate being very low (2.50%) plus a discounted below prime (up to prime less .75%) rate, the adjustable-rate mortgage seems very appealing. Is it for all mortgage consumers, though? When comparing the monthly mortgage payment only with the adjustable versus the fixed rate, the adjustable will always win (because the rate is lower). The variable rate is a higher risk product whereas the fixed rate is a guarantee for a set term. Most of us are aware that with investments, risk is usually the higher-profit option. This is the same with mortgages. The adjustable rate offers a higher risk but has proven to be most cost effective. ... read more

Buyers still enjoy exceptional rates ...Jun 12, 2010

It's far from panic, but there is concern in the marketplace regarding resale housing, and much of this concern is around rising mortgage rates at a time when selling prices are in flux. I've said this before and I'll say it again: home buyers today have it exceptionally good when it comes to mortgage rates. ... read more

8 ways to make money with real estate ...Jun 14, 2010

It's a buyer's market in real estate, and mortgage rates are at an all-time low. Maybe you're thinking of diving into the real estate market, or maybe you already own a home or land. Wondering how you can get the most of it? Here are some unexpected ways you can use real estate to boost your finances. ... read more

Interest rates in perspective ...Jun 08, 2010

When the Bank of Canada raised its Bank Rate by 25 basis points to .75 per cent last Tuesday, there were already a few grumblings from Canadians in the housing sector and elsewhere who thought interest rates should remain at an effective rate of almost zero for time immemorial so they could continue to borrow cheaply. That would be unwise and short-sighted for reasons to be explained. ... read more

Latest housing market numbers on the way ...Jun 07, 2010

On Tuesday, Canada Mortgage and Housing Corp. is slated to release housing-start figures for May. On Thursday, Statistics Canada releases its new-home price index for April. The following week, CREA will release figures on sales of existing homes in May. Some local numbers, such as for Vancouver and Calgary, have already been released, showing growing sluggishness. ... read more

Managing debt while rates grow ...Jun 07, 2010

Canadians have taken advantage of extremely low interest rates to overextend themselves. The Bank of Canada wants to try to prevent inflation by raising interest rates to slow the economy down. How will debtors manage? ... read more

April building permits point to cooling market ...Jun 04, 2010

Commercial projects cranked up the value of building permits sold in April by 5% as residential property building cooled off, government figures released Friday show. The dollar figure associated with building permits hit $6.7 billion in the month, Statistics Canada said. ... read more

Loonie will fly, though not nealy as high ...Jun 04, 2010

OTTAWA — The loonie will still reach parity with the U.S. dollar, but its climb back from the recent round of risk aversion will be a slow one, and its ascent will carry it lower than previously expected, according to BMO Capital Markets. “We judge.. ... read more

Calgary home sales fall 20% ...Jun 02, 2010

Rising interest rates, tighter mortgage lending regulations and financial market instability have dramatically cooled housing demand in Calgary as nervous consumers stayed on the sidelines in May. According to Calgary Real Estate Board data released Tuesday, both single-family home and condominium sales last month plunged by more than 20 per cent from May 2009. At the same time, listings moved upwards, as did average sale prices. ... read more

Houses prices to fall next year ...Jun 02, 2010

A "demand-driven downturn" will drive house prices lower by the end of 2011, the association which represents the country's 100,000 real estate agents said Wednesday. In an updated market forecast, the Canadian Real Estate Association said the national average resale price will reach a record $325,400 by the end of this year, a gain of 1.6 per cent from current levels. ... read more

Consumers expected to re-do calculations ...Jun 02, 2010

A quarter-point bump in the bank rate might seem minor until you couch it in terms of, say, a new couch - the one Barry Nabatian suggests you're now more likely to forego. "In our local economy I would say housing, furniture, some of the home improvement things," says the retail analyst, listing consumer spending areas that could suffer because of rising borrowing costs ... read more

Mortgage risk and reward ...May 28, 2010

As the Bank of Canada appears closer to moving away from the historically low rates that have been in place since financial markets melted down in 2008, the inevitable is upon Canadian consumers: interest rates are about to rise. And if you happen to be in the market for a mortgage, the question of what to do, lock in or float, looms large. ... read more

Builder offers pre-built homes to beat HST ...May 28, 2010

For new home builders, there's precious little harmonizing about the HST - it might just as well stand for Haunting Sales Tax with builders feeling pressed to sell off inventory. The solution, as sought by Conservatory Group, is to offer already built and pre-finished homes, with free finishes and upgrades at low finance rates, deliverable well before July 1. ... read more

Bad financial predictions? No, just bad timing ...May 27, 2010

A lot of what you were told would happen in the financial world this year looks kind of, well, wrong. You heard for months about how bonds were a trap. As the stock markets have fallen lately, bonds have been beautiful. You also heard about how interest rates were going to rise. In fact, mortgage rates have fallen twice in the past couple of weeks. ... read more

U.S. style collapse not likely in Canada ...May 27, 2010

Canadian homeowners are unlikely to experience a U.S.-style decline in the value of their homes, says a report released today by the Canadian Real Estate Assocation. Instead, home prices will stabilize and will remain stable for some time, said the report. ... read more

Home prices stuck below pre-recession high ...May 27, 2010

House prices in Calgary have risen from their levels a year ago, but remain below their pre-recession peak. Calgary was the only metropolitan region in the country of the six surveyed in March that has yet to top its pre-recession high. "Its prices are down 10.3 per cent from their peak in August 2007," said the Teranet-National Bank house price index, which was released Wednesday ... read more

BMO profit soars ...May 26, 2010

Bank of Montreal, the first big bank out of the gate with second-quarter earnings, said Wednesday that it made $745-million, up $387-million from a year ago. That easily topped analysts' estimates, as the bank set aside less money for troubled loans than it did a year ago. BMO's cash earnings per share came in at $1.28, while the Street was forecasting cash earnings of $1.10 per share. ... read more

Be careful when buying property for adult children ...May 26, 2010

It's one thing to buy your son or daughter a condominium, it's quite another to have their partner or spouse end up owning half of it. A column earlier this month about a new TD Canada Trust survey that found 10% of Canadians are considering buying a condominium for their adult children, up from 5% a year ago, drew plenty of reaction from readers. ... read more

Banks reduce some mortgage rates ...May 21, 2010

Three Canadian banks announced Thursday that they are lowering their five-year closed mortgage rates for the second time this month, effective today. RBC Royal Bank, TD Canada Trust and Bank of Montreal announced that they would lower their five-year fixed-rate closed mortgages by 11 basis points to 5.99 per cent. The cuts this month follow three increases in April that took five-year, fixed rates from 5.25 per cent to 6.25 per cent. ... read more

Current Rates as of 2019-03-22
Duration Posted Bank Rates Our Rates
1 year 3.04 2.44
2 year 3.24 2.54
3 year 3.44 2.74
4 Year 3.89 2.99
5 Year 4.99 2.94
7 year 5.30 3.79
10 year 6.10 3.74
5 Yr - Variable 3.45 2.41
Qualifying rate 0.00 5.14

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