26 Feb

Interest Rates & Commodity Prices Surge On Economic Rebound Optimism

Mortgage Tips

Posted by: Patrick Lofto

In an unprecedented move, bond yields are spiking around the world. Yields globally are now at levels last seen before the coronavirus spread worldwide. At the same time, commodity prices are surging, including energy, metals and minerals, agricultural products and lumber. The Biden administration’s $1.9 trillion stimulus package has triggered fears that if the US economy […]

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15 Jan

2020 Was a Blockbuster Year for Housing

General

Posted by: Patrick Lofto

2020 Was a Blockbuster Year for Housing Despite the fears leading into the pandemic last Spring, 2020 marked a record number of home resales as new listings lagged and prices climbed. December housing data released by the Canadian Real Estate Association (CREA) today shows national home sales surged 7.2% month-over-month (m-o-m) at a time of […]

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16 Dec

2021 Realestate Projections

General

Posted by: Patrick Lofto

The national average house price is expected to increase by 9.1 per cent — to $620,400 — in 2021, the Canadian Real Estate Association (CREA) said today. Shortages of supply, particularly in Ontario and Quebec, are expected to result in strong price growth, while Alberta and Saskatchewan are anticipated to see average prices pick up following several years […]

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15 Sep

Record Home Sales in August

Latest News

Posted by: Patrick Lofto

  Today’s release of August housing data by the Canadian Real Estate Association (CREA) showed a blockbuster August with both sales and new listings hitting their highest levels in 40 years of data–exceeding the record July activity levels. This continues the rebound in housing that began four months ago. National home sales rose a further 6.2% […]

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17 Aug

Strong July for the housing market

General

Posted by: Patrick Lofto

Today’s release of July housing data by the Canadian Real Estate Association (CREA) showed a blockbuster July with both sales and new listings hitting their highest levels in 40 years of data. This continues the rebound in housing that began three months ago. National home sales rose 26% month-over-month (m-o-m) in July, which translates to […]

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15 Jun

Record Gains in Canadian Home Sales and Listings in May

General

Posted by: Patrick Lofto

There was good news today on the housing front. Home sales surged by a record 56.9% in May from April’s unprecedented collapse. Data released this morning from the Canadian Real Estate Association (CREA) showed national home sales recovered roughly one-third of the COVID-induced loss between February and April (see chart below). On a year-over-year (y-o-y) basis, sales […]

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12 Jun

CMHC Makes It Harder To Qualify For An Insured Mortgage

General

Posted by: Patrick Lofto

Once again, the Canadian Mortgage and Housing Corporation (CMHC) is tightening the criteria to get a mortgage with less than a 20% down payment. Any potential home buyer with less than a 20% down payment must purchase default insurance on their loan and have a minimum down payment of 5%. CMHC is a federal Crown […]

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