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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 breaking mortgage news is now at → RATESDOTCA.
- What rising inflation means to the loonie and the timing of a Bank of Canada rate hike (Financial Post – Subscription)
- Canadians need more than basic housing market knowledge from their professional realtor, new study finds (Newswire)
- “51% of Canadians feel that REALTOR®’s commissions are their only priority.”
- How prevalent are non-resident owners in major Canadian markets? (Mortgage Broker News)
- Non-resident ownership continues to be an overblown scapegoat for supply mismanagement. Per CMHC, only four Census Metropolitan Areas (CMAs) had non-resident condo ownership above 1% for example:
- Toronto (2.6%)
- Montréal (1.8%)
- Vancouver (1.3%)
- Halifax (1.3%)
- Non-resident ownership continues to be an overblown scapegoat for supply mismanagement. Per CMHC, only four Census Metropolitan Areas (CMAs) had non-resident condo ownership above 1% for example:
- Small towns join the real estate big leagues as pandemic turns tables on price growth (Financial Post)
- Torontonians can get a house at half price, simply by commuting 100+ kilometers a day!
- Toronto New Home Prices Fall Up To $48,000, As Supply Eases Pressure (Better Dwelling)
- New study reveals the extent of Ontarians’ home-moving intentions (Mortgage Broker News)
- Canada’s high unemployment may help low mortgage rates stick around (Calgary Sun)
- Despite this story, a temporary dip in mortgage rates would do nothing to improve a typical mortgagor’s buying power, not with the new 5.25% minimum stress test rate starting in six days.
- Canadian consumer confidence climbs to fresh record (BNN Bloomberg)
- Is it better to rent or own a home? It depends. (BNN Bloomberg)
- It always depends.
- Pandemic-driven Exodus from Ontario’s Urban Centres Overstated: Right at Home Realty Survey (Yahoo Finance)
- History tells us we face low inflation risk, despite some runaway prices (Real Estate News EXchange)
- They also said that in 1940, 1963 and 1971. History tells us a lot, about history.
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