Royal LePage’s latest housing market forecast predicts a real estate rebound that will see Canada’s “sluggish” markets in recovery mode by spring following a third straight interest rate cut.
Interest rate cuts by the Bank of Canada in recent months have helped reduce ownership costs for homeowners and buyers and bring about a slight improvement in the overall housing outlook, according to a new analysis by Royal Bank of Canada (RBC) assistant chief economist Robert Hogue.
The federal government is rolling out another set of mortgage changes aimed at addressing the housing shortage, this time focusing on supporting the construction of secondary suites.
Greater Toronto Area (GTA) home sales increased year-over-year in September. Buyers were starting to take advantage of more affordable market conditions brought about by interest rate cuts and lower home prices.
Canada’s banking regulator recently relaxed its mortgage stress test rule partly due to concerns about how the public perceives the agency’s role, according to Peter Routledge, the head of the Office of the Superintendent of Financial Institutions (OSFI).
Markets are increasingly betting on the Bank of Canada delivering a 50-basis point rate cut during its October 23 policy decision, with the odds now sitting at around 53%
Canada’s banking regulator is easing the burden on homeowners trying to switch their lender when renewing their mortgage by dropping the need to reapply the stress test.
As a follow-up to last week’s announcement, the federal government has unveiled a more detailed framework for its updated mortgage rules, which are set to take effect on December 15, 2024.
National home sales increased in June following the Bank of Canada's first interest rate cut since 2020, and activity posted another small gain in August on the heels of the second rate cut in late July, but the bigger picture appears to be a market mostly stuck in a holding pattern.
The total value of building permits surged by 22.1% month-over-month to $12.39 billion in July 2024, far exceeding market expectations of a 2.5% increase, following an upwardly revised 13% decline in the previous month.
While the Bank of Canada may be lowering interest rates, the move is not having an immediate effect on Canada‘s housing market, an economist at one of Canada’s biggest banks says.
Canada’s commercial real estate sector saw positive momentum in the second quarter of the year, according to a new report, which notes further reductions in borrowing costs are expected to drive investor confidence.
Greater Toronto Area (GTA) home sales were down on a year-over-year basis in August 2024. New listings were up slightly over the same period. While the region’s housing market remained well-supplied in August, average home prices only edged slightly lower compared to August 2023.
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