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2180 Steeles Avenue West,
Suite 204, Concord,
ON, L4K 2Z5

Phone:     905-761-7001
Toll Free: 1855-761-7001
Fax:          905-761-7005

Email: mortgageadvisor@rogers.com





News
2 July 2019

Financial difficulties the Canadians are facing

The recent report by Statistics Canada says many Canadian households were late with their debt payment or missed it in 2016.

According to the agency’s Survey of Financial Security, 11% with some kind of debt reported missing or being late with their non-mortgage payment.

Statistics Canada points to certain categories of people who skip a debt payment more often than others:

  • Borrowers aged 55 to 64 years old (8.1% missed payments vs. 3.9% of 24-to-44-year-olds and 4.2% of 45-to-54-year-olds.)
  • Borrowers with a low income (6.8% vs. 2.1% with a high income)
  • Residents of the Prairies (6.8% vs. 3.2% in Ontario and 3.4% in Quebec)
  • Families with one parent (9.4% vs. 2.4% in families with no children and 4% in the category of couples with children)

Debt-to-asset ratio as an indicator of financial troubles

According to the report, a high debt-to-asset ratio is a better sign of a household’s financial trouble than a traditional debt-to-income ratio (which rose to almost a record high level in the first quarter of 2019).

 
28 June 2019

Canada shows a 0.3% economic growth in April

 In April, Canada's GDP was up by 0.3%, following a 0.5% hike seen in March, Statistics Canada says.

The main driver of the increase was a 0.5% hike  in oil and gas extraction, as output rose after production cuts in Alberta which started in January. Higher oil prices supported the expansion.

In addition to it, wholesale trade and the construction sector also showed increases. Meanwhile, manufacturing fell by 0.8%, partially because of temporary shutdowns at certain motor vehicle operations.

The stronger growth points to a sharp direction shift since the start of 2019 and end of 2018. Moreover, it was larger than predicted.

The annual growth of Canada's economy reached 0.4% in Q1, which is the lowest back-to-back quarters result since 2015.

 
27 June 2019

Attempts to estimate immigration's influence on home prices continue

As you know, real estate markets react to demand supported by buyers. Higher population or stronger purchasing power of consumers will probably increase the pressure on home prices and rents. But how can we determine the share of pressure generated by immigration?

This issue has attracted more attention since housing affordability become a strong concern in large Canadian cities.

Significant prices growth in Toronto and Vancouver during 2016-17 led to worries about the influence of foreign money, and provincial governments reacted to it by introducing measures, including a foreign homebuyers’ tax.

Nevertheless, those worries and measures initially concerned the influence of non-resident speculators, and not immigrants who wanted to build their lives here.

 
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News

15 August 2019

Real estate sales kept growing in July The recent report by the Canadian Real Estate Association (CREA) shows the national housing market is reboundi...Read more >>

14 August 2019

GTA shows a detached market rebound The latest report by REMAX and Toronto Real Estate Board shows stronger activity at the detached homes segment of...Read more >>

13 August 2019

Canada lost 24,000 jobs, but the housing sector added 30,000 new positions For those who still have doubts that Canadian real estate drives the natio...Read more >>
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