Tag Archive for Tag: higher interest rates

Tag: higher interest rates 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...

Tag: higher interest rates Toronto is the fastest growing city in the U.S. and Canada, and that may not be good

    Toronto is the fastest growing city in the U.S. and Canada, and that may not be good     Torontonians could find themselves “doubling up” on housing with friends or relatives in the incoming years as the city’s breakneck population growth outstrips the supply of new housing, an urban planning expert is warning.   In an analysis published online this week, researchers Frank Clayton and Eva Shi of Ryerson University’s Centre for Urban Research and Land Development found that Toronto is the fastest-growing city in the U.S. or Canada, and by a long shot. Toronto added more than

View Article...

Tag: higher interest rates Toronto area home sales declined to 10-year low in 2018 and number of listings down

  Toronto area home sales declined to 10-year low in 2018 and number of listings down.   Home sales in Toronto and the surrounding GTA area fell to a 10-year low in 2018, as the number of new listings coming to the market declined and home buyers and sellers faced with a new reality of higher interest rates and stricter mortgage rules including mortgage stress tests.   The Toronto Real Estate Board (TREB) says there were 77,426 residential transactions recorded through its Multiple Listing Service (MLS) system in 2018, down 16.1 per cent from 92,263 sales in 2017. The last time sales were lower than this

View Article...

Tag: higher interest rates Interest Rate up inject to homebuyers’ challenges, more first-time buyers may not qualify

  The interest rate up and third Bank of Canada rate hike this year could shut more first-time buyers out of the Toronto region’s housing market. It will increase hundreds of dollars to some homeowners’ challenge mortgage payments. More first-time buyers may not qualify for mortgage.   The central bank has raised its key lending rate 0.25 to 1.75 per cent on October 24, 2018. Similarly, Canada’s big banks boost their prime rates by a quarter of a percentage point to 3.95 per cent from 3.70 per cent, effective October 25. The bank previously raised rates by 0.25 percentage points

View Article...

Tag: higher interest rates Toronto Condo owners had large capital gains and about half are in negative cash flow

  Toronto Condo owners had large capital gains. Close to 50 per cent of all investors who bought condominiums completed in the Toronto area in 2017 are not making enough rent to cover their carrying costs, despite finding exceptional gains on the value of their properties, a new study reports.   Close to 44 per cent of investors who took possession of new units in 2017 were in negative cash flow — that is their rental income was lower than the amount needed to cover their mortgage payments and condominium fees, according to the study by CIBC and Urbanation, a

View Article...

Tag: higher interest rates Toronto Detached Home Prices Down $200,000 From June, 2017

  Toronto’s detached home is having another rough month. Numbers from the Toronto Real Estate Board( TREB) has been demonstrated that purchaser indecision and substantial downward pressure to the detached home segment in July, 2017. Generally speaking, detached homes across TREB market area demonstrated lower prices, less sales, and more inventory.   Prices Down Up To $205,000 From June, 2017 Detached home prices remain in positive field, but there are indication of big declines. The benchmark price, the price of a typical detached house, fell to $963,900 across TREB, a 6.16% reduction from the month before. This price is still

View Article...