Housing market

UK mortgage scheme could drive up home prices

Officials from Britain’s Office for Budget Responsibility say a newly announced mortgage guarantee scheme risks driving up home prices, reports ft.com. The Help to Buy scheme was proposed as part of last week’s Budget. Its goal is to decrease the shortage in housing, and increase the supply of low-deposit mortgages for creditworthy borrowers. Read more. […]

March 27, 2013

1 min read

Industry

BMO raises mortgage rates

BMO is raising its five-year residential mortgage rates by 10 basis points. Effective March 29, 2013, the new interest rate will be 3.09%. “Protect yourself from rising rates by locking in for five years and become mortgage-free faster by choosing a maximum amortization of 25 years,” says Ernie Johannson, senior vice president, personal banking Canada, […]

By Staff |March 26, 2013

1 min read

Economic Indicators

U.S. cities experience real estate boom

What’s behind America’s real estate boom? College-educated professionals, says Forbes. These people want to live in urban areas close to shopping and entertainment. This is why homebuilders are focusing on the downtown cores of American cities, including Denver, CO, and Birmingham, Ala. Both cities have experienced population, job and economic growth. And these are some […]

March 26, 2013

1 min read

Economic Indicators

Fewer Canadians will buy homes: RBC

Four-in-10 Canadians (40%) planning to enter the housing market over the next two years will be first-time homebuyers, finds an RBC poll. The rest are taking a wait-and-see approach, with 15% likely to buy in the next two years, down from 27% last year. This is the biggest year-over-year drop. Read: Say goodbye to mortgage […]

By Staff |March 26, 2013

3 min read

2 reasons mortgage rates are artificially inflated

Finance Minister Flaherty’s attempts to cool the hot housing market may be for naught — especially now that most banks are offering mortgage rates under 3%, says the Globe and Mail. So why does Ottawa continue to keep rates artificially inflated? 1) Rate obscurity Discouraging banks from publicly advertising rates that are under 3% keeps […]

March 18, 2013

1 min read

Home sales down in February

National home sales activity edged back down on a month-over-month basis in February 2013 following an increase in January, according to statistics released today by the Canadian Real Estate Association (CREA).

By Staff |March 15, 2013

2 min read

New home prices rise

It’s getting more expensive to buy a brand new home in some Canadian cities. The New Housing Price Index (NHPI) rose 0.1% in January, following a 0.2% increase in December, says Statistics Canada. On a year-over-year basis, the NHPI rose 2.2% in the 12 months to January, following a 2.3% increase the previous month. Read: […]

By Staff |March 14, 2013

1 min read

Housing market

UK mortgage scheme could drive up home prices

BMO raises mortgage rates

U.S. cities experience real estate boom

Fewer Canadians will buy homes: RBC

Say goodbye to mortgage wars

2 reasons mortgage rates are artificially inflated

No housing bubble, says Scotia

Home sales down in February

Right time for fixed mortgages: poll

New home prices rise