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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

3 December 2018

What challenges are waiting for the GTA housing market next year?

Although this year, the GTA real estate market has already faced numerous challenges, the next one may bring new difficulties to deal with.

At the beginning of 2018, the market was hit by a new mortgage stress test, following months of attempts to adjust to the Ontario government’s Fair Housing Plan.

Today, it shows historically low rental vacancy rates, weak housing activity, and growing interest rates.

Let’s take a closer look at the possible challenges of 2019.

A sharp lack of available rental units

As more people move to Toronto, the rental market just can’t meet the demand.

According to the Canada Mortgage and Housing Corporation (CMHC), the rental vacancy rate in Toronto is only 1.8% now.

28 November 2018

Reverse mortgage debt level keeps growing in Canada

According to the new report from the Office of the Superintendent of Financial Institutions (OSFI), total reverse mortgage debt load among Canadians rose from $3.035 billion in August to almost $3.07 billion in September.

OSFI says one of the reasons for such an increase was National Bank’s rise by about $427 million in reverse mortgage debt in November 2017.

In OSFI’s opinion, in case senior borrowing rates are true, the reverse mortgages debts will keep growing during the next several years.

27 November 2018

Canada’s real estate market will hardly support the GDP growth soon

This week, Canada’s GDP growth report for the third quarter will be released. Many economists believe that the real estate market hasn’t provided the necessary support for the national economy this time.

“Although the second quarter showed a certain growth increase, the pace has slowed since that moment”, - says CIBC economist Royce Mendes. “Household spending is already affected by interest rate hikes. In addition to it, the housing market is also influenced by the stricter mortgage rules”.

As you know, the central bank raised its key lending rate to 1.75% last month. Many expect another increase in 2018.

The rate hikes have been pushing certain potential buyers out of the market, decreasing home sales all over Canada.

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14 December 2018

Canadian biggest banks tighten mortgage market conditions following a rules change Canada’s largest banks are tightening their approach to the nation...Read more >>

13 December 2018

Many Canadians believe they will buy their dream house someday Although the pressure from higher interest rates and growing prices is rising, 41% of ...Read more >>

12 December 2018

Not all economists expect an active year for Canada’s real estate market Numerous economists provide their forecasts on the national real estate mark...Read more >>
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