Saturday, July 16, 2022

Mortgage Rates & Mortgage Broker News in Canada

Mortgage Rates & Mortgage Broker News in Canada

Home prices fall for the fourth straight month

Posted: 15 Jul 2022 10:42 AM PDT

Average home prices in Canada fell for the fourth consecutive month in June, while home sales were down in three-quarters of all markets. The average (not seasonally adjusted) home price fell to $665,850 in June, according to data from the Canadian Real Estate Association (CREA). That’s down 6.4% from the previous month and nearly 18% from February. Compared to a year ago, prices are down 1.8%. On a seasonally adjusted basis, the MLS Home Price Index, which strips out month-to-month […]

Canadian rent prices were flat in June, but could rise further as demand grows

Posted: 14 Jul 2022 08:30 PM PDT

The average rent in Canada took a breather in June, dropping slightly compared to May, according to data from Rentals.ca. The flat reading follows a 3.7% monthly increase in May. Average rents are still 9.5% higher than they were last year, but are down 3.5% compared to pre-pandemic June 2019. Five Canadian cities have seen rent prices for all property types soar over the past year by more than 20%: Vancouver: $2,926 (+25%) Toronto: $2,463 (+20%) Calgary: $1,752 (+26%) London, […]

Reaction to the Bank of Canada’s 100-bps shocker

Posted: 13 Jul 2022 12:01 PM PDT

Having been behind the inflation curve for many months, the Bank of Canada today tried to get ahead of it by delivering a surprise 100-bps rate hike.

The Latest in Mortgage News: CMHC sees chance of a recession if BoC policy rate hits 3.5%

Posted: 12 Jul 2022 08:33 PM PDT

As the Bank of Canada continues to hike interest rates, the country's housing agency sees the chance of a recession growing the higher rates go.
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Mortgage – HousingWire

Mortgage – HousingWi...