The Bank of Canada will likely hold interest rates steady next week as it waits to see how last month's surprise cut is absorbed by the economy, though analysts expect the central bank to lower rates once more by mid-year, a Reuters poll found.
When determining a house's affordability or potential value as an income property, investors will likely bee-line to the price tag, but it’s actually the month-to-month expenses that you should be considering.
Homeowners recently sighed with relief when a recent Canada Mortgage and Housing Corporation study found that the percentage of foreign-owned condos in Canada’s biggest cities is typically less than 2.5%.
The Alberta housing slump picked up steam last month but new data from Toronto and Vancouver shows falling oil prices are having little impact on sales in Canada’s two most expensive cities. While sales in Calgary and Edmonton are plummeting, Toronto home prices are up almost 5%, with realtors predicting more increases to come amid near record-low interest rates.
Households in Canada’s two most western provinces have the highest averages for mortgage debts on principal residences. According to newly updated provincial data from Statistics Canada, the amount of mortgage debt averaged $241,800 for BC households while Alberta followed with an average of $205,200.
OTTAWA - The looming threat of sliding oil prices forced the Bank of Canada to drop its trend-setting interest rate Wednesday, a surprising move that shows just how much the country's economic outlook has soured in a matter of months.
TORONTO - Vancouver has been ranked among the most unaffordable real estate markets in a recent international report, leaving economists concerned about the potential impacts of rising mortgage rates on the city's homeowners.
According to the StatsCan data, 2.4 million immigrants have made the GTA their home since before 1941. The maps confirm for the first time what we’ve known anecdotally for years — that the GTA is home to the world.
A decade-long housing boom that brought considerable economic benefits to the GTA belies a number of problems in the marketplace, including less affordability for more people, according to a TD Economics report released Monday.
The GTA is fast becoming the New York of the north and even if house prices cool over the next few years, relief will be “modest,” at best, for beleaguered homebuyers, says TD Economics in a report released Monday.
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