The ‘Bank of Mom and Dad’ is no longer just for down payments Parents have moved beyond helping their children with a down payment, with high home prices and interest rates forcing them to co-sign on mortgages themselves. GIRENE GALEA AND ERICA ALINIPUBLISHED OCTOBER 29, 2023UPDATED OCTOBER 30, 2023 Parents have moved beyond helping their…
Posthaste: 3.4 million Canadians will renew their mortgages by 2025 — and they’re worried Royal LePage survey finds many looking at a variety of cost-cutting tactics Gigi Suhanic Published Oct 26, 2023 Many Canadian households will be grappling with higher payments as their mortgages come up for renewal. The days of “rock-bottom rates” are over…
The market might be headed for a hard landing These defensive strategies could protect your portfolio Lawrence Ullman is the chief executive of Ullman Wealth Management Inc., which provides private capital-management services to high-net-worth individuals, endowments, charities and foundations. This year’s market rally has caught many investors off guard. This was supposed to be the…
Canadian luxury housing market enjoys continued demand, confidence “Hyperlocal influences” dominated luxury market dynamics in Canada’s largest cities Consumer demand and confidence in the Canadian luxury real estate market have remained robust despite the sharp rise in interest rates and lingering economic uncertainty, according to an analysis by Sotheby’s International Realty Canada. The report noted…
Markets across Canada experience spring surge Canada’s major housing markets appear to be shifting direction this spring. After a few months of sluggishness, early results from boards indicate that activity has picked up significantly in most markets, and prices have ticked higher. “There were hints for some time the cyclical bottom would be reached this…
New First Home Savings Account launches April 1, but won’t be available until later this year Prospective homebuyers wanting to take advantage of the federal government’s new Tax-Free Savings Account will have to wait longer, despite the program’s official launch date of April 1. All of the Big 6 banks confirmed to CMT that they…
Bond yields plunge. What it means for fixed mortgage rates Bond yields dove over 30 basis points on Friday as economic worries start to replace inflation concerns. Bond yields, which lead fixed mortgage rates, fell to 2.84% on Friday, down from 3.15% on Thursday and well off the 3.59% high reached in mid-June. The decline…
Canadian Home Sales Rebound 57% from April, But Still Down Sharply vs. 2019 After the steepest decline on record in April, Canadian home sales posted a 56.9% rebound in May, while the number of new listings surged 69%. While the resurgence in activity suggests April was likely a bottom for the COVID-19-induced housing decline, there’s…
‘Mortgage Holiday’? Borrowers In Italy, U.K. May Get A Break From Payments, And Canada Could Follow Some U.S. cities are protecting renters with eviction bans during the outbreak. With global stock markets tanking and coronavirus cases rising rapidly in Asia, Europe and North America, politicians around the world are racing to unveil emergency measures to…
RBC widens mortgage lead just as Canada’s housing market shows signs of a revival Domestic mortgage book grew 8.6 per cent in the fiscal first quarter, the biggest year-over-year jump in more than a decade Royal Bank of Canada has widened its lead in mortgages against rival lenders as the nation’s housing market shows signs…
