Monthly Archives: April 2019

Month: April 2019 Toronto housing slowdown reasons Bank of Canada showed

  Toronto housing slowdown reasons Bank of Canada showed   The Bank of Canada found the prices of the housing market went up way out of affordability range for buyers. The Bank estimated. that between 2015 and 2018, the rising cost of home ownership would have lowered annual home sales nationwide by a hefty 56,000 if the “housing bubble” effect was not present in the market.   The Bank estimated that Only a fraction of that — 10,000 sales — would have been due to the mortgage stress test, All the rest would have been due to rising prices and

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Month: April 2019 TREB Released March, 2019 Resale Market Figures

  TREB Released March, 2019 Resale Market Figures   Toronto Real Estate Board announced that Greater Toronto Area REALTORS® reported 7,187 residential sales through TREB’s MLS® System in March 2019. This result was close to 7,188 sales reported in March 2018. For the first quarter of 2019, sales were down by one per cent (1%) compared to Q1 2018.   The ‘OSFI stress test’ has an impact as to home buyers’ ability to qualify for a mortgage. TREB is still arguing that the stress test provisions and mortgage lending guidelines generally, including allowable amortization periods for insured mortgages, should be

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Month: April 2019 TREB Released February, 2019 Resale Market Figures

  TREB Released February, 2019 Resale Market Figures   Toronto Real Estate Board announced that Greater Toronto Area REALTORS® reported 5,025 homes sold through TREB’s MLS® System in February 2019. This sales total was down by 2.4 per cent on a year-over-year basis. Sales were also down compared to January 2019 following preliminary seasonal adjustment.   “The OSFI mandated mortgage stress test has left some buyers on the sidelines who have struggled to qualify for the type of home they want to buy. The stress test should be reviewed and consideration should be given to bringing back 30 year amortizations

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Month: April 2019 Canada housing market has grown riskier, IMF has reported

  Canada’s housing market has grown riskier over the past two years, with risk levels similar to those seen during the financial crisis a decade ago, the International Monetary Fund (IMF) said in a report released this week.   But there is good news: The measures Canadian policymakers have taken over the past several years — particularly foreign buyers’ taxes and tough new mortgage rules — are the right ones to prevent a debt crisis, the report suggested..   In its latest Global Financial Stability Report, the Washington-based agency dedicated to global financial co-operation said the U.S. and Canadian housing

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