3/1/2021 | Posted in Mortgages and Real Estate by Terra Realty
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CIBC Deputy Chief Economist Benjamin Tal said many Canadians aren’t prepared for a shock to their mortgage rates as a result of volatility in the bond market. ... More

Real Estate & Mortgage News

  2/26/2021 | Posted in Home Owners by Terra Realty
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Nearly half of Canadians aged 25 to 35 own their home; one quarter of these homeowners have purchased a property since the onset of the COVID-19 pandemic, while 52% say remote ... More

Real Estate & Mortgage News

  2/24/2021 | Posted in Canadian Housing Market by Terra Realty
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Canada's top central banker said Tuesday that the economy would continue to need monetary stimulus, likely until 2023, even though there are already signs it could be ... More

Real Estate & Mortgage News

  2/14/2021 | Posted in Home Buyers by Terra Realty
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The share of renters who are planning to buy has quadrupled, and what they want to buy is changing. ... More

Real Estate & Mortgage News

  2/12/2021 | Posted in Home Buyers by Terra Realty
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Immigration to Canada fell to the lowest level since 1998. ... More

Real Estate & Mortgage News

  2/4/2021 | Posted in Home Buyers by Terra Realty
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Got 34 years to save up for a house? The threshold every buyer has to meet to own a home ― the minimum down payment ― has reached Canada’s highest level on ... More

Real Estate & Mortgage News

  2/2/2021 | Posted in Canadian Housing Market by Terra Realty
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Despite quickly rising home prices and the uncertainty unleashed by the COVID-19 pandemic, a majority (80%) of Canadians still believe home ownership is a good investment. ... More

Real Estate & Mortgage News

  2/2/2021 | Posted in Mortgage Interest Rates by Terra Realty
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While Canada’s economy recorded its largest-ever annual drop of 5.1% last year, it’s also on track to post a comeback in Q4, which could force the Bank of ... More

Real Estate & Mortgage News

  2/2/2021 | Posted in Mortgages and Real Estate by Terra Realty
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Lenders "have never seen as many as they have now". ... More

Real Estate & Mortgage News

  1/27/2021 | Posted in Home Buyers by Terra Realty
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Plan ahead when buying a home to save yourself time and stress. ... More

Real Estate & Mortgage News

  1/20/2021 | Posted in Mortgages and Real Estate by Terra Realty
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Canadian Mortgage Debt Increased 7.4% in November compared to a year earlier, pushing total up to nearly $1.66 trillion, according to StatsCan. ... More

Real Estate & Mortgage News

  1/11/2021 | Posted in Canadian Housing Market by Terra Realty
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Affordability and space limitations continue to impact purchase decisions as only 14% of Canadians polled would consider buying a home in a major metropolitan area. ... More

Real Estate & Mortgage News

  12/21/2020 | Posted in GTA Real Estate by Terra Realty
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People ditched their condos, there was an exodus to the suburbs and an uptick in home renovations ... More

Real Estate & Mortgage News

  10/3/2020 | Posted in GTA Real Estate by Terra Realty
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There is an alarming trend that is quite rampant in the Toronto area, and it’s causing havoc on real estate transactions. Perhaps other cities in Canada are experiencing the ... More

Real Estate & Mortgage News

  9/28/2020 | Posted in Home Buyers by Terra Realty
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In light of the past six months of COVID-19-triggered uncertainty, home sales in Canada have been shockingly brisk as a combination of FOMO and low interest rates keep drawing ... More

Real Estate & Mortgage News

  9/22/2020 | Posted in New Developments by Terra Realty
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Shortages for lumber and other building materials are driving up construction costs this year. ... More

Real Estate & Mortgage News

  9/18/2020 | Posted in Home Buyers by Terra Realty
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Record-low interest rates appear to be a major factor. ... More

Real Estate & Mortgage News

  8/12/2020 | Posted in Canadian Economy and Housing Market by Terra Realty
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The head of Canada’s housing authority implored the nation’s lenders to “reconsider” offering mortgages to highly leveraged households, saying excessive ... More

Real Estate & Mortgage News

  8/10/2020 | Posted in Mortgage News by Terra Realty
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Effective this week, it gets a little easier to buy a house or refinance. ... More

Real Estate & Mortgage News

  7/13/2020 | Posted in Mortgages and Real Estate by Terra Realty
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Renewal and refinance activity has spiked since lockdowns were lifted according to a recent report. ... More

Real Estate & Mortgage News

  7/9/2020 | Posted in Canadian Housing Market Predictions by Terra Realty
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Strong June home sales data from Toronto and Vancouver finally gave wary homebuyers and industry professionals the dose of good news that they’d sorely needed. ... More

Real Estate & Mortgage News

  6/30/2020 | Posted in Mortgages and Real Estate by Terra Realty
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While mortgage rates have been tumbling steadily over the last couple of months, many are now in record-setting territory, with certain 1- to 5-year fixed rates now available for ... More

Real Estate & Mortgage News

  6/23/2020 | Posted in Mortgage Interest Rates by Terra Realty
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Low interest rates will be the norm for the foreseeable future, Bank of Canada Governor Tiff Macklem said earlier this week. ... More

Real Estate & Mortgage News

  6/12/2020 | Posted in Mortgages and Real Estate by Terra Realty
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Many Canadians will attempt to purchase new homes before the adjusted rules take effect on July 1. ... More

Real Estate & Mortgage News

  6/4/2020 | Posted in Home Buyers by Terra Realty
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Canada’s housing agency is tightening rules to make it more difficult for higher-risk borrowers to qualify for mortgage insurance. ... More

Real Estate & Mortgage News

  5/24/2020 | Posted in Home Buyers by Terra Realty
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The Bank of Canada is set to reduce its qualifying rate ten basis points, from 5.04 to 4.94 percent according a new report. ... More

Real Estate & Mortgage News

  5/16/2020 | Posted in Canadian Economy and Housing Market by Terra Realty
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Thanks to a reduction in some Big-Bank posted rates in recent days, Canada’s mortgage stress test rate will fall as early as next week. ... More

Real Estate & Mortgage News

  3/31/2020 | Posted in Mortgage Interest Rates by Terra Realty
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Canada’s mortgage rates are creeping up even though the country’s central bank has slashed borrowing costs to combat the COVID-19 pandemic. ... More

Real Estate & Mortgage News

  3/18/2020 | Posted in Mortgage News by Terra Realty
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Canada’s largest banks are coordinating their approach to the COVID-19 coronavirus outbreak to protect their employees and customers. ... More

Real Estate & Mortgage News

  2/19/2020 | Posted in Mortgages and Real Estate by Terra Realty
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The Office of the Superintendent of Financial Institutions (OSFI) has announced that it is considering a new benchmark rate to determine the minimum qualifying rate for uninsured ... More

Real Estate & Mortgage News