Mortgage stress test takes a bite out of new mortgages

Accounted for an estimated 50 to 60 per cent, or between $13-$15 billion, of the overall decline

Mortgage stress test takes a bite out of new mortgagesThe mortgage stress test, B-20, accounted for an estimated 50 to 60 per cent, or between $13-$15 billion, of the overall decline in mortgage originations (the process by which a borrower applies for a new loan, and a lender processes that application) throughout 2018, according to a new report released Tuesday by CIBC Economics. The…

House prices falling across Canada

Calgary and Edmonton hit hard, according to report from real estate association

House prices falling across CanadaHouse prices are falling across the country, with significant declines in March in the Calgary and Edmonton regions. According to its regular monthly report, the Canadian Real Estate Association said the aggregate MLS benchmark price across Canada of $617,200 was down by 0.47 per cent year over year during the month. The report said the…

Non-traditional home buying approaches on the rise

More solo Canadians are buying property; down payments are trending up: RBC

Non-traditional home buying approaches on the riseMore Canadians are taking a non-traditional approach to buying a home and many say being house poor may be the reality of home ownership, says the annual RBC Home Ownership Poll, which was released on Monday. “We're seeing a fundamental contrast in who's at the buying table,” said Nicole Wells, vice-president of home equity financing…

Creating the right environment for real estate success

Shami Sandhu talks about what makes Realty ONE Group different and why those differences work well for buyers and agents

Creating the right environment for real estate successShami Sandhu is president and regional director of Realty ONE Group of Western Canada. What is the Realty ONE Group and what do you do? Sandhu: Realty ONE Group is a full-service lifestyle real estate brand that has experienced rapid growth since Kuba Jewgieniew started the company in 2005. Unlike existing traditional models, we don’t…

We need a big-picture perspective on house prices and mortgages

Taking on more debt is not a good thing. In fact, it could be devastating for the Canadian economy

We need a big-picture perspective on house prices and mortgagesThe future, when it arrives, isn’t always what we imagined. Technology hasn’t yet brought us vacation trips to the moon or Mars. But it has brought us Twitter, where even world leaders communicate in 140 character blocks. Does this affect our brains? Can we no longer hold more than one simple idea in our heads…

RE/MAX partners with online real estate brokerage Redfin

Redfin’s new Canadian real estate site brings its industry-leading search experience to most provinces

RE/MAX partners with online real estate brokerage RedfinReal estate powerhouse RE/MAX is partnering with technology-powered real estate brokerage Redfin to reach consumers through the Redfin Partner Program. In a news release, the two companies said that in areas where Redfin doesn’t have capacity to serve customers, Redfin refers customers to approved partner agents at other brokerages, including participating RE/MAX agents. When the…

National housing market faces shakeup

Ben Myers of Bullpen Research & Consulting talks about how markets are changing across the country

National housing market faces shakeupBen Myers is president of Bullpen Research & Consulting Inc. What does your research tell you about today's consumer and what they’re looking for in a new home? Myers: Location remains the top priority for buyers, that hasn't changed. However, different demographic segments have much different priorities after location. In speaking with realtors and developers,…

Canadian MLS sales take steep drop in February

The housing sector is on track to further reduce waning Canadian economic growth: CREA report

Canadian MLS sales take steep drop in FebruaryMLS home sales in Canada dropped 9.1 per cent in February from January, reaching the lowest level since November 2012, according to a report released Friday by the Canadian Real Estate Association. The month-over-month decline was the largest recorded in Canada since the introduction of the mortgage stress test in January 2018. “The number of…