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Total sales for 2011 amounted to 89,347 – up four per cent in comparison to 2010, reported TREB.“Low borrowing costs kept buyers confident in their ability to comfortably cover their mortgage payments along with other major housing costs,” said TREB President Richard Silver. “If buyers had not been constrained by a shortage ...
Greater Toronto REALTORS® reported 4,337 transactions through the TorontoMLS® system in January 2011. This result was 13 per cent lower than the record result reported in January 2010.
The average selling price for January 2011 sales was $427,037, representing an increase of over four per cent compared to the average of $409,058 reported ...
Canadians will be spared a U.S.-style wave of foreclosures when the housing market corrects and interest rates rise, according to a report from DBRS Ltd. examining Canada’s $1-trillion mortgage market.
DBRS expects housing prices to fall and acknowledges that the soaring trajectory of consumer debt is worrying. But the debt-rating ...
The average Canadian's debt-to-income ratio amounted to 145% after the home prices hiked five times, the average persons' after-tax income.
The report from Vanier Institute said that the mortgage arrears were up by 50%, although the absolute number of arrears was still ultra-low by international standards.
The media suggests increase in ...
Greater Toronto REALTORS reported 3,079 existing home transactions in the first two weeks of December compared to 1,487 in 2008. The strong growth represents both increased home ownership demand and the fact that we are comparing the recovery phase of the sales cycle this December with the contraction phase experienced last winter.
Toronto housing starts have risen for three months in a row, CMHC says in a report released this week.
The seasonally adjusted annual rate of total housing starts rose 13% in October from the month prior, Canada Mortgage and Housing Corp. says, to a total of 34,200 units. Single-detached starts have remained stable, but condo starts have once ...
There are more signs of stabilization in the local real estate market.
Interest rates are at a record low for a five-year, fixed-term mortgage, still the most popular product among homeowners. Some banks are offering rates as low as 3.75%, if the buyer locks in for a full five years. But variable rates, tied to prime, have also continued to drop ...
When the Toronto and GTA housing market was hot, bidding wars forced many buyers to put in offers without conditions to increase their chances of being accepted. This, combined with unprecedented increases in home prices, scared many first-time buyers out of the market.
But the economic downturn changed all that. As housing prices ...
Gloomy economic predictions are making us a lot more depressed than we need to be. That's a view expressed by several policy analysts in the latest issue of Policy Options, a Montreal-based journal.With so much attention in Canada paid to American news, it's easy to see why Canadians have been spooked.
But while things are difficult here ...