Canadian Homeowners Tackling Household Debt

Canadian Homeowners Dealing With Debt

The last 10 years have seen a spectacular boost in home equity in Canada. More than half of the increase Canadians’ net worth since 2000 has been from home equity. The wealth of homeowners has been growing in recent years, while that of renter households has declined, according to Canada Mortgage and Housing Corp. (CMHC)…. Read More

Home Renovations May Put Children At Risk

Family in Front of Home

Canada’s $44 billion renovation industry has been the fastest growing part of the housing sector for the last 10 years, but it is risking the health of those living in the houses under construction — particularly children — says a report by the Canadian Environmental Law Association   (CELA). Renovation activities including energy retrofits, if… Read More

First-Time Buyers Move To Get In Ahead Of Higher Interest Rates

Driven by the threat of higher interest rates down the road, first-time buyers are contributing to strong upward momentum in residential housing markets across the country. The RE/MAX First-Time Buyers Report, highlighting trends and developments in nineteen major Canadian centres, found that low interest rates and balanced market conditions have provided significant impetus in 2011,… Read More

Should I Accept This Offer On My Home?

Today’s market can be a difficult one for many sellers to navigate. And while your real estate agent can advise you, the ultimate decision of what offer to accept is entirely up to you. This decision can come with quite a bit of pressure. Even in the most favorable of markets this can be a… Read More

Toronto Area Prices Up 5% in March

Toronto Selling Prices March 2011

The Toronto Real Estate Board reported 9,262 transactions in March, the second best March result on record, though still 11% below the all-time record set in March 2010.  The average selling price for March 2011 was $456,147, up 5% over last March. Here’s a brief video from Jason Mercer, the Toronto Real Estate Board’s Senior Manager… Read More

Banks Boosting Mortgage Rates

Mortgage Rates Rising

Several of Canada’s big banks are raising most of their fixed-term mortgage rates ahead of the busy spring real estate market. Toronto-Dominion Bank (TD-T85.85-0.29-0.34%) said the biggest increases will be for mortgages with terms of five to 10 years, which will all go up by 0.35 of a percentage point starting Tuesday. View full article…. Read More

Home Prices Rise for Second Consecutive Month – Teranet

House prices rising

According to the latest numbers the correction of housing prices late in 2010 seems to have been a short-lived phenomenon, as for the second consecutive month prices increased overall in four of six Canadian metropolitan markets. Canadian home prices in January were up 0.4 per cent from the previous month, according to the Teranet–National Bank… Read More