May 29, 2015
CMHC Releases First Quarter Results
Canada Mortgage and Housing Corporation (CMHC) released today its first quarter financial report as well as complementary Mortgage Loan Insurance and Securitization Business Supplements.
CMHC provides mortgage loan insurance and securitization guarantee programs to facilitate access to mortgage financing and to contribute to the stability of the financial system. Consistent with our mandate, CMHC is present in all markets and through all economic cycles. During the first quarter, CMHC provided mortgage loan insurance for over 50,000 units across the country....
May 29, 2015
Bank of Canada stays on the sidelines
The Bank of Canada announced on May 27th, 2015 that it was keeping its trend-setting overnight lending rate at 0.75 per cent.
Economic growth in the first quarter was weaker than the Bank expected, but it “expects a return to solid growth in the second quarter.” It still believes that exports and business investment will pick up and that the Canadian economy will grow by just under 2 per cent this year.
The Bank thinks the economic fallout from low oil prices will be neatly limited to the first quarter. If it proves to be longer lasting, the Bank may downgrade its economic outlook again...
May 28, 2015
CMHC Survey Provides Valuable Insights into Mortgage Consumers
Canada Mortgage and Housing Corporation (CMHC) released today its Mortgage Consumer Survey. The annual survey, the largest and most comprehensive of its kind, provides insights into the behaviours, attitudes and expectations of Canadians when acquiring, renewing or refinancing a mortgage.
“CMHC’s mortgage consumer survey provides valuable information around the habits of active Canadian mortgage consumers” said Nathalie Fredette, Vice-President, Client Relationship Management. “These insights allow mortgage professionals to better ...
May 27, 2015
Bank of Canada maintains overnight rate target at 3/4 per cent
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cent.
Inflation in Canada continues to track the path outlined in the Bank’s April Monetary Policy Report (MPR). Total CPI inflation is near the bottom of the Bank's 1 to 3 per cent inflation control range, largely due to the transitory effects of sharply lower energy prices. Core inflation remains above 2 per cent, boosted by the pass-through effects of past depreciation of the Canadian dollar, as well as certain...
May 25, 2015
CMHC Expects Provincial Disparities in Housing Market Activity for 2015 and 2016
According to CMHC’s second quarter 2015 Housing Market Outlook, Canada Edition1, housing markets will remain stable with housing starts moderating slightly in 2015 and 2016. There are, however, a number of risks and vulnerabilities that can affect the market outlook for Canada and each province. To account for these risks and vulnerabilities, CMHC produces forecast ranges for resale and new home markets.
“Lower oil prices are contributing to disparities between provincial housing markets. A slowdown in housing starts and resale transactions in oil-producing provinces such as Alberta...
May 22, 2015
Results of CMHC’s Survey of Condominium Owners in Toronto and Vancouver
Canada Mortgage and Housing Corporation (CMHC) released the results of its 2014 Condominium Owners Survey (COS) for Toronto and Vancouver today.
The COS is part of CMHC’s program of work on better understanding the role and prevalence of investors in Canadian housing markets.
The report includes survey insights on what motivates condo purchases, how long owners hold on to their units, and the borrower profile of condominium owners whose primary dwelling is a freehold or condominium unit but who also own at least one secondary unit that is a condominium.
For reporting purposes, such households...
May 15, 2015
Canadian home sales up again in April
- National home sales rose 2.3% from March to April.
- Actual (not seasonally adjusted) activity stood 10% above April 2014 levels.
- The number of newly listed homes was little changed from March to April.
- The Canadian housing market overall remains balanced.
- The MLS® Home Price Index (HPI) rose 4.97% year-over-year in April.
- The national average sale price rose 9.5% on a year-over-year basis in April; excluding Greater Vancouver and Greater Toronto, it increased by 3.4 %.
The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations rose...
May 14, 2015
Hottest April for Home Sales in a Decade
The British Columbia Real Estate Association (BCREA) reports that a total of 9,952 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April, up 28.7 per cent from the same month last year. Total sales dollar volume was $6.3 billion, a 45.5 per cent increase in comparison to the previous year. The average MLS® residential price in the province rose to $634,744, a 13 per cent increase since last April.
“Last month was the strongest April for home sales in a decade,” said Cameron Muir, BCREA Chief Economist....
May 13, 2015
Just Listed: 612 9266 University, Burnaby, SFU
Spacious Open Plan
2 bed, 2 bath, 842sqft
Clean & Move-In Ready
Priced at $348,800
Take-in the beautiful green space, mountain top & City light views from this 2bed/2bath, 842sqft home. Located in Aurora, a concrete building in UniverCity; Vancouver’s premier lifestyle neighborhood. Features: open layout, quality finishing, stainless apps, granite counters, laminate floors & plenty of cupboard/counter & closet space. The spacious master has 3pc ensuite, walk-in & a view. The 2nd bed is well sized. Enjoy BBQs on the fully covered balcony....
May 11, 2015
New Listing: The Hub 101 9009 Cornerstone Mews, Burnaby, SFU
101 9009 Cornerstone Mews
2 bed & den, 2 bath, 1094sqft
Unique and rarely available concrete town home conveniently located in the heart of UniverCity! Steps to shopping, transit, SFU campus & all this area has to offer. This south facing 2level/2bed & den/2bath home offers an abundance of light. Enter through the bottom level which has a den, plenty of storage & laundry. The spacious main level features: laminate floors, euro-inspired kitchen, large windows, plenty of cupboard & counter space, well sized master bed w/4 pc ensuite, 2bed ...
May 4, 2015
Home buyer demand outpacing supply across the Metro Vancouver housing market
Strong home buyer demand coupled with below average home listing activity has created seller's market conditions within the Metro Vancouver* housing market.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 4,179 on the Multiple Listing Service® (MLS®) in April 2015. This represents a 37 per cent increase compared to the 3,050 sales recorded in April 2014, and a 2.9 per cent increase compared to the 4,060 sales in March 2015.
Last month’s sales were 29.3 per cent above the 10-year sales average...