Canadian Mortgage News Daily — April 29, 2021

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Here’s a daily helping of fresh Canadian mortgage news (the italics are the Spy’s 2 cents).

Reader note: RateSpy’s mortgage news is now at → RATESDOTCA.

• Homes Consuming an Ever-Growing Slice of Incomes (RATESDOTCA)

• Why Canada’s housing markets may have topped in February (Yahoo News)

• How changing Canada’s capital gains exemption would hit the sale of your home (Financial Post – Subscription)
  • “A capital gains tax…would erase a stack of cash that could potentially fund years’ worth of spending in retirement.”

• In Vancouver and Toronto, as many as 1 in 5 homeowners own more than one property (The Globe & Mail – Subscription)

• Average Canadian credit score improved during pandemic, Borrowell study finds (Financial Post – Subscription)

• B.C. economist says proposed 1 percent tax on Canadian homes owned by foreigners a “fringe measure” (The Georgia Straight)
  • A 1% tax has no teeth and to critics, seems like window dressing. At best it’s a symbolic warning that, when combined with other policies and oncoming supply, could dampen market psychology.

• U.S. Real Estate Prices Are Growing At The Fastest Rate Since The 2006 Peak (Better Dwelling)

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