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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 ...

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 ...

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 ...

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 ...

TREB Members reported 2,577 sales in December 2008, compared to the 4,646 recorded during the same month in 2007, and the 4,447 recorded in December 2006, TREB President Maureen O’Neill announced today. “Sales for the whole of 2008 were 74,552, compared to the 93,193 recorded in 2007, and the 83,084 recorded during 2006.” The ...

The Greater Toronto Area resale housing market reported 5,155 sales in October, Toronto Real Estate Board President Maureen O’Neill announced. This represents a 35% decline from the 7,915 sales reported in October 2007 and a 25% decrease from the 6,876 transactions that took place during the same period two years ago. In the City of Toronto, ...

Toronto has solidified its spot as North America’s largest condominium market, according to a report that says 259 projects are in the works in the city’s census area. Urbanation, one of the country’s major condominium market research firms, says condo sales skyrocketed over the first nine months of 2007. There were 16,790, ...

Hats off to the Bank of Montreal for starting a practice that all financial institutions should have in place, and could even improve upon.BMO has announced that prospective homebuyers who take out a five-year fixed-rate mortgage and existing homeowners who renew for a five-year fixed rate, by Oct. 31 of this year, will not have to pay basic ...