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Here’s a daily helping of fresh Canadian mortgage news (the italics are the Spy’s 2 cents):
- 5-year fixed mortgage rates drop … slightly (RATESDOTCA)
- Federal budget 2021: Ottawa plans vacant home tax to dissuade foreign speculators, along with billions for affordable housing (The Globe & Mail – Subscription)
- A 1% tax is supposed to dissuade foreign buyers looking for safe offshore assets to park their money? Puh-leeze...
- I fear that we are sitting on top of a housing bubble: Carol Stephenson (BNN Bloomberg)
- “I’m not so sure foreign investment restrictions [are] going to solve the problem.” She may be on to something!
- Big jump in home prices in March (Teranet Home Price Index)
- Prices up for the 7th straight month.
- TD Economics forecasts “some cooling” in real-estate market by second half of 2021 (The Georgia Straight)
- More housing curbs ahead, speculates TD.
- On an unrelated note, the 1.64% 5-year fixed reference in this story is not in fact the lowest rate for a 5-year fixed. Some authors have yet to figure out who actually does quote the lowest rates in Canada.
- The likely impact of the Canada stress test hike (Mortgage Broker News)
- BC industry bodies warn buyers against making unconditional offers (Mortgage Broker News)
- In feverish real estate markets, adrenalized buyers tend to underestimate appraisal risk.
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