Population, economic and employment growth all point to a stabilizing of the Canadian condominium market, according to the latest Conference Board of Canada condo report commissioned by Genworth Canada. The Summer 2014 Metropolitan Condo Outlook forecasts that while pockets of higher risk still exist in Toronto and Vancouver, a broad-based downturn is unlikely. “The report [...]
According to the latest statistics from StatsCan, contractors took out building permits worth $8.0 billion in June, up 13.5% from May. The June increase was mainly due to higher construction intentions for institutional and industrial buildings in Quebec and commercial buildings in Alberta. In the residential sector, the value of permits edged up 0.4% to [...]
Owning a rental property can be a profitable investment - but it's not for everyone. It’s important to do the research needed to have a clear understanding of the steps in financing an income property and all the responsibilities that will come with an investment. I’ve provided some information below to help you get started. [...]
Consensus is looking for Canadian housing starts numbers for the month of June to come in near 190k, down from the strong 198.3k in May but still stronger than levels seen earlier this year when a mix of harsh weather and uncertainty weighed on overall levels of construction, driving housing starts to an annualized low [...]
A recent survey of high net worth Canadians, those with investable assets of $500,000 or more, reveals that for this group, having a mortgage may be a considered and deliberate investment strategy. Sixty-seven per cent of those who have a mortgage indicated they have the cash available to pay for their home in-full. "The notion [...]
Making a will is a sensible and worthwhile task that everybody, whatever their age or financial status, should do. However there are some special reasons why Canadian woman should make a will of their own: • Women usually live longer than their husbands, so it's a good idea for each of you to have your [...]
Low interest rates stimulate home purchase, mortgage debt reduction, optimism Canadians are reducing their mortgages by negotiating lower interest rates, making lump sum pre-payments and repaying their mortgages at, on average, two-thirds of their contracted amortization periods. This has created an attractive landscape for new homeowners, as historically low interest rates have attracted increasing numbers [...]
The Canadian mortgage market rests in a delicate balance: CAAMP Housing activity high in three major markets; while most of Canada experiences slowdown First time home buyers continue to enter the Canadian housing market in substantial numbers, encouraged by low interest rates and acting in response to their own favourable economic circumstances, according to the [...]
https://www.youtube.com/watch?v=dupUQz_kzWw Renovation Mortgage - Purchase plus improvements Source: Genworth Canada
Housing starts in Canada were trending at 183,515 units in April compared to 184,602 in March, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. “In April, the trend in housing starts was essentially stable at 183,515 units. [...]
