Latest News
Etobicoke Housing Market Update for Homebuyers
The Toronto Regional Real Estate Board reported that home sales are down by 47% when they compare 2022 to last year. Even taking into consideration that home sales drop during the summer months, July 2022 is down 4% from June of this year. It is not all bad news. Housing prices are higher this year…
Metro home prices continued to fall in July
Home prices continued their downward decline in most of the country’s major metro areas in July, alongside falling sales.
Variable-rate mortgages are about to trigger payment increases
There’s been a lot of discussion recently about how variable-rate mortgage holders could face their “trigger point.” We’re going to explore what that means, and the implications for borrowers.
Home Capital’s Q2 mortgage volumes up over 40%
Despite rising interest rates, alternative lender Home Capital saw its mortgage originations jump over 40% in Q2 compared to last year.
Lauren van den Berg named new MPC CEO
Mortgage Professionals Canada announced today that Lauren van den Berg will take over as President and CEO of the association starting next month. Van den Berg will fill the position left vacant by former MPC CEO Paul Taylor. The change in leadership comes as the association recently achieved the milestone of 15,000 members. Van den…
The Latest in Mortgage News: BoC’s Affordability Index reaches its worst level since 1991
Housing affordability deteriorated to its worst level in over 30 years, according to data from the Bank of Canada.
Home prices post fifth straight monthly drop—now down 23% from February peak
Canada’s national average home prices fell for the fifth consecutive month in July, having now fallen 23% since reaching a peak in February.
Equitable Bank volumes up 36% in Q2, but says activity will slow
Equitable Bank saw conventional loan growth increase 36% year-over-year in the second quarter, but says activity is expected to ease through the remainder of the year.
Inflation eased in July…kind of. What it means for the BoC’s next rate hike
Led by a drop in gas prices, Canada’s annual inflation rate eased to 7.6% in July, according to data released by Statistics Canada.
Rent prices on the rise again
After taking a breather in June, rent prices continued to trend upward in July, rising 2.6% in the past month.