The Canadian mortgage space is already seeing some rates on offer decline heading into the spring market, despite no clear indication yet from the Bank of Canada that interest rate cuts are imminent.
A new report says the average asking price for a rental unit in Canada was $2,193 per month in February, marking a 10.5 per cent jump year-over-year and the fastest annual growth since September 2023.
Greater Toronto Area (GTA) home sales and new listings were up on an annual and monthly basis in February 2024. Selling prices also edged upward compared to a year earlier. Population growth and a resilient regional economy continued to support the overall demand for housing. Higher borrowing costs kept home sales below the February sales record reached in 2021.
Equifax Canada says consumers in Ontario and British Columbia increasingly missed payments on mortgages and credit cards in the fourth quarter of 2023.
Greater Toronto home sales and listings were up in February from last year, but adjusted sales were down from a month earlier, the region's real estate board said Tuesday.
The Bank of Canada is expected to preach patience at its interest rate announcement this week as economists say weakening economic conditions are setting the stage for rate cuts in the coming months.
The cost of living in Toronto went up nearly 20 per cent between 2017 and 2022 – but that’s less than half the increase seen in the city’s housing prices over the last five years, according to a new report.
Home prices in Canada are forecast to gain a bit this year and rise further in 2025 on relentless demand for housing amid scant new supply and prospects for interest rate cuts later in 2024, according to a Reuters poll of experts.
One third of Canadians are considering alternative home ownership models, a new survey has found, as purchasing a home remains out of reach amid an ongoing affordability crunch.
The purchasing power of buyers with a $1 million budget searching for a home in Canada will widely vary depending on the city they are shopping in with those in Toronto getting less square footage and fewer bedrooms than everywhere aside from Vancouver, according to a new report.
Canadian consumer prices eased at the start of this year, with progress on underlying pressures likely to give the Bank of Canada more room to start considering rate cuts in the coming months.
The average asking price for rent in Canada reached $2,196 in January, a 10 per cent increase from this time last year — marking another record high amid a deepening rental crisis.
Following a weak second half of 2023, home sales over the last two months are showing signs of recovery, according to the latest data from the Canadian Real Estate Association (CREA).
Canada is seeing “early signs” of a housing market upturn and Toronto could see prices bottom out this spring, a recent report from the Royal Bank of Canada says.
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