Brokers say they are experiencing longer than average turnaround times with the banks, suggesting it could be a result of a flooded market due to collective client fears that rates will continue to increase. “I would divide the segment into two parts; the adjudication part with the banks in general is probably twice or three […]

Toronto real estate numbers for July were the best since 2009, with total sales up 16 per cent compared to last year, according to statistics released today by the Toronto Real Estate Board.   “Last month’s sales represented the best July since 2009 and was the third-best July result on record,” said Dianne Usher, president […]

Interest rates continue to go up – and this time, it is Scotiabank and RBC following TD Canada Trustby announcing increases to special discounted rates.   TD Canada Trust increased its special 5-year closed residential rate 10 bps to 3.39 per cent on Wednesday – a discount off the posted rate. This was quickly followed […]

RBC’s announced rate hike Friday is a signal the big bank is laying down its weapon of choice at least for the time being, say brokers.   “They’re realizing that competing on rate is a losing game, and want to see how the market will react,” says Paolo Di Petta, a broker with EQRON Mortgage. […]

Here’s a story you can share with your clients who only want to talk about rate. Omer Quenneville loves to tell the story of the two clients who bought identical condos in the same building – and especially loves to remind the client who didn’t listen just how wrong he was.   “Do I love […]

Majority (60%) of Canadian Homeowners Admit to Mistake Making When Buying a Home; Renovations (15%), Small Down Payments (14%), and No Home Inspection (13%) Among Top Concerns Affordability (46%) and Saving for Large Down Payment (32%) Top Reasons for Not Buying Until Now for First-Time Buyers Monday, April 29, 2013 Toronto, ON – When it […]

News Release: April 3, 2013 LOWER INVENTORY KEEPS HOME PRICES IN CHECK AS ‘SLOW BUT STEADY’ MARKET CONTINUES (Surrey, BC) – In March, the Fraser Valley Real Estate Board processed 1,128 sales on its Multiple Listing Service® (MLS®), a 20 per cent decrease compared to the 1,412 sales during the same month last year, and […]

Lost decade predicted for Canadian housing market 7 Home prices boom is now a bust; future increases will mirror rate of infl ation Think of it like an elastic ( being stretched). The snap back is going to be a lot harder.GRANT CONNORNATIONAL BANK FINANCIAL After years of growth, economists say the real estate boom is […]

News Release: March 4, 2013 POSITIVE SIGNS FRASER VALLEY HOUSING MARKET IS STARTING TO MOVE (Surrey, BC) – Sales on Fraser Valley’s Multiple Listing Service® (MLS®) in February experienced a typical ‘early spring’ surge, increasing by 48 per cent in one month going from 617 sales in January to 913 last month. However year-over-year, they […]

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