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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

6 February 2019

TREB predicts moderate improvement of market conditions in 2019

Toronto Real Estate Board (TREB) President Garry Bhaura released the fourth annual market outlook report, following quite a challenging year for the real estate market. TREB expects moderate improvement of sales and average home prices this year.

"While we don’t predict record activity, we still believe it will be a better year for sales and home prices reported by GTA REALTORS® through TREB's MLS® System. Many homebuyers who were pushed out of the market by different rules changes, e.g. the OSFI’s mortgage stress test, have reviewed their positions at the market in terms of the home type, its location and the price range. The poll made by Ipsos for TREB shows that the number of intending buyers went up," - noted Mr. Bhaura.

Here are some of the key points from TREB’s report and Ipsos’ survey:

  • This year, 83,000 sales are expected through TREB's MLS® System. It’s a modest gain from 77,375 sales seen in 2018.
5 February 2019

Mortgage growth fell to its lowest level in 17 years

In December, mortgage growth went down to its lowest mark in 17 years, putting even more pressure on Canada’s big banks to focus on other business sectors.

The central bank says residential mortgage growth was only 3.1% and reached $1.55 trillion. It’s the slowest result since May 2001, and twice smaller than two years ago.

“The main profit source for Canadian banks will be reduced”, — said Craig Fehr, investment strategist at Edward Jones & Co., whose firm controls $30.8 billion in Canada. “Often, it’s the largest and most profitable business of these big banks”.

4 February 2019

Calls for less strict mortgage stress test are growing

The Office of the Superintendent of Financial Institutions (OSFI) is facing more calls from banks and mortgage industry lobbyists to ease a stress test, created to reduce risky lending. However, according to three reliable sources, the regulator will probably stay put in terms of changes so far, Reuters says.

Supporters of the change say easing the test may restrain the housing slowdown and cut the number of borrowers who have to address private lenders. Nevertheless, one source says the regulator is not eager to interfere with the test, implemented only 13 months ago.

As you know, OSFI introduced the new rules last January, demanding from banks to test borrowers’ ability to pay off mortgages at an interest rate 2% higher than their contract one.

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22 February 2019

Home prices growth in Canada may remain moderate during the next two years The recent Reuters survey of analysts shows that once hot real estate mark...Read more >>

21 February 2019

Political leaders offer more measures on improving housing affordability NDP Leader Jagmeet Singh explained how his party could improve hou...Read more >>

20 February 2019

Should we expect a rate hike from the central bank in March? With today’s economic challenges – weak real estate market, difficulties with oil and tr...Read more >>
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