Canada Archives - Page 10 of 11

03Mar

CMHC to Increase Mortgage Insurance Premiums – Effective March 17,2017

[Source: CMHC - January 17, 2017] CMHC is increasing its homeowner mortgage loan insurance premiums effective March 17, 2017. For the average CMHC-insured homebuyer, the higher premium will result in an increase of approximately $5 to their monthly mortgage payment. “We do not expect the higher premiums to have a significant impact on the ability of Canadians to buy a home,” said Steven Mennill, Senior Vice-President, Insurance. “Overall, the changes will preserve competition in the mortgage loan insurance industry and contribute [...]

Canada, Vancouver Real Estate

08Feb

Vancouver’s economy is on fire

[Source: BIV.com, January 27, 2017] Economic growth in B.C., particularly Vancouver, was so strong in 2016, it has nowhere to go but down, according to the Conference Board of Canada. But even with an expected cooling of the real estate market, lower expected GDP growth of about 3% and job growth of 23,000 per year for the next two years, Vancouver is expected to continuing sharing “superstar” status with Toronto, Alan Arcand, associate director of municipal studies for the Conference Board, [...]

Canada, Quarterly Economic Update, Vancouver Real Estate

08Feb

Saving money with a semi-detached house (aka: Duplex in BC)

[Source: Moneysense.ca, February 8th, 2017] For buyers dead-set on moving into a single family house, there seems to be little room to budge. The price-tag for detached urban homes is out of reach for many, but that’s doesn’t mean a move to a condo apartment is the right step. For some buyers, no amount of amenities or nearby transit stops are enough to give up on a private backyard, more living space or the freedom to renovate. Lengthy commute times be [...]

Canada, Toronto, Ontario, Vancouver Real Estate

08Feb

Will Vancouver recover from ‘policy shock’?

[By: Chana Fay Charach, February 8, 2017] Vancouver is one of the most watched real estate markets in Canada and possibly internationally as well. Over the last couple of years, we have experienced extraordinarily heated conditions to say the least. Not only was there a rapid rise in values in many areas but also a significant number of sales. However, in the later part of 2016, things cooled off after numerous government policy changes were implemented. “From a real estate perspective, [...]

British Columbia, Canada, International Influence, Quarterly Economic Update, Vancouver Real Estate

18Jan

Bank of Canada announces rate- January 18, 2017

[Source: The Canadian Press, January 18, 2017] The Bank of Canada is holding its benchmark interest rate at 0.5 per cent and providing a deeper assessment of the risks associated with the big economic unknowns of a Trump presidency. The central bank is keeping its key interest rate in place with the Canadian economy showing signs of improvement but it also warns of the significant uncertainty tied to potential policy changes by the United States, its largest trading partner. This is the [...]

Bank of Canada announcements, Canada, Economic Outlook, International Influence

17Jan

CMHC to hike mortgage insurance premiums March 17, 2017

Canada Mortgage and Housing Corp. is hiking mortgage insurance premiums for home buyers. The Crown corporation said the increases will amount to an average of $5 a month more for new borrowers. "We do not expect the higher premiums to have a significant impact on the ability of Canadians to buy a home," said Steven Mennill, CMHC' senior vice-resident of insurance in a news release. "Over all, the changes will preserve competition in the mortgage loan insurance industry and contribute [...]

British Columbia, Canada, Vancouver Real Estate

16Jan

Bought your first home? Don’t hurry the renovations

Pat Giles and his wife bought a house a year and a half ago. They’re already thinking about renovating the kitchen. A brand new kitchen is a tempting prospect, but it is neither a short nor a cheap renovation. Mr. Giles, 36, is keenly aware of this. He’s associate vice-president of real-estate secured lending with Toronto-Dominion Bank, and regularly talks about renovation financing with colleagues across Canada. He’s following the same advice he and his colleagues give to clients. “For us, [...]

British Columbia, Canada, Toronto, Ontario, Vancouver Real Estate

07Dec

How not to slaughter your personal finances this holiday season

[Source: The Globe and Mail, December 7, 2016] For reasons I’ll discuss in an upcoming column, I see 2017 as an expensive year for Canadian households. One way to prepare is to go easy on your spending this holiday season. This edition of the newsletter is devoted to the idea of combining fun and frugal. First off, we should acknowledge that Canadians are world leaders in binge shopping in December. Next, let’s agree that a present for your spouse is probably [...]

British Columbia, Canada, Vancouver Real Estate

07Dec

Bank of Canada sees stronger global growth, keeps rates steady

[Source: The Globe and Mail, December 7, 2016] The Bank of Canada is keeping its key overnight rate at 0.5 per cent, pointing to a stronger global economy coupled with continued uncertainty regarding international trends. Donald Trump’s election win in the United States has created expectations in financial markets that Republicans in Washington will inject new fiscal stimulus into a U.S. economy that is near full capacity, a development the bank says has pushed Canadian bond yields “significantly” higher. The bank says [...]

British Columbia, Canada

27Nov

OPINION: Homeowner Property Rights in Vancouver

[Source: Shpoa, Fall 2016] Given the recent controversies arising over such issues as 'affordable' housing, heritage preservation, 'green' objectives and densification, many homeowners are affected by new laws and regulations that are, in some cases, devaluing their properties by limiting redevelopment options and disturbing the overall composition of the neighborhoods in which they live. Questions are arising about the legality of measures being taken by various levels of government, to serve their political agendas, and to the degree to which property [...]

Canada, Vancouver Real Estate