Dated Archives: June 11, 2019

Day: June 11, 2019 In Toronto stepping up from Renting To Buying A Condo Is Getting Harder

    In Toronto stepping up from Renting To Buying A Condo Is Getting Harder     Runaway price growth for single-family homes is a thing of the past in Toronto and Vancouver today, thanks to rising interest rates and tougher mortgage rules. But with prices still high, buyers have turned to other options. Or really the one other option that exists in buying the condos.   “Trouble is, this stronger demand for condos resulted in sharper price gains and affordability erosion,” Royal Bank of Canada economists Craig Wright and Robert Hogue wrote in their latest affordability report, released on

View Article...

Day: June 11, 2019 Bank of Canada may follow Fed with rate cuts later this year, traders bet

    Bank of Canada may follow Fed with rate cuts later this year, traders bet   The Bank of Canada is likely to join the U.S. Federal Reserve with an interest rate cut this year to deal with the fallout from rising trade tensions, according to trading in the swaps market.   Investors are betting Canadian policy makers will follow an expected U.S. rate cut in September. The chances of a Bank of Canada match at the Oct. 30 meeting jumped above 50 per cent Tuesday, up from about 25 per cent last week, according to data compiled by

View Article...

Day: June 11, 2019 Toronto Real Estate TREB Published May, 2019 Resale Market Figures

    Toronto Real Estate TREB Published May, 2019 Resale Market Figures     Toronto Real Estate Board President announced that Greater Toronto Area REALTORS® reported 9,989 transactions through TREB’s MLS® System in May 2019. This result represented a substantial increase of 18.9 per cent over the 15-year low in May 2018, Please note that the result was still below the average for month of May sales for the previous ten years, which stands at almost 10,300.   The year-over-year uptick in sales experienced so far in the second quarter of 2019 suggests that the share of likely home buyers

View Article...

Day: June 11, 2019 OSFI moves up domestic buffer to 2% in growing household debt risk for big banks

  OSFI moves up domestic buffer to 2% in growing household debt risk for big banks     OSFI, the federal banking regulator, is increasing the domestic stability buffer for the country’s systemically important banks to 2.00 per cent from 1.75 per cent.   The Office of the Superintendent of Financial Institutions said Tuesday that on balance the systemic vulnerabilities remain elevated while economic conditions continue to be accommodative.   OSFI noted that specific vulnerabilities covered by the buffer continue to include Canadian consumer debt, asset imbalances in the Canadian market and Canadian institutional debt.   Increases to the buffer

View Article...

Day: June 11, 2019 Canadian mortgage rates decreases to the lowest level in 2 years

    Canadian mortgage rates decreases to the lowest level in 2 years   House prices may be as high as ever in Toronto in June, 2019, but Toronto homebuyers are being offered some of the lowest mortgage rates seen in 2 years as lenders battle to drum up new business.   Rates on a standard five-year fixed-rate mortgage have fallen to their lowest level in two years, according to rate comparison website, Ratehub.ca.    Borrowers just about everywhere across the country can take their pick of offerings well below three (3) per cent at the moment, says James Laird, the site’s

View Article...