The Mortgage Market Update for the Week of March 16th, 2016

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For your Reference

Bank of Canada maintains overnight rate at 1/2 percent

RBC Economics – Provincial Outlook Report

 

In the News

Canadian home prices rise in February boosted by gains in Vancouver

Published by Reuters through The Financial Post on Monday March 14th, 2016

Canadian home prices rose in February, driven by a surge in the already-strong Vancouver market, data showed on Monday in the latest sign of a growing divide in the country’s real estate sectors.

Prices gained 0.6 per cent from January, according to data from the Teranet-National Bank Composite House Price Index, the largest increase for the month of February since the 2008-09 recession.

New home prices lifted by costs in Toronto, Vancouver

 By Leah Schnurr for Reuters | Published on BNN.ca on Thursday March 10th, 2016

Canadian new home prices rose in January, driven by higher costs in Vancouver and Toronto, data from Statistics Canada showed on Thursday, highlighting the ongoing strength of the country’s hottest markets.

The national 0.1 per cent price gain fell slightly short of economists’ expectations for an increase of 0.2 per cent. The new housing price index excludes apartments and condominiums, which the government says are a particular cause for concern and which account for one-third of new housing.

What To Expect From Canada’s Real Estate Market This Spring

By Wayne Karl | Published on Huffingtonpost.ca on Wednesday March 9th, 2016

Spring is usually busy season in the housing market, and it will likely be the case this year — though for different reasons in various areas.Daylight Savings Time begins on March 12, and the first day of spring is the following weekend.Plus, Environment Canada said this week that Canada will likely have a milder than normal spring this year.

All of this sets the stage for an active spring real estate market.

  • Opportunity Knocks
  • A welcome pause in the GTA ?
  • Affordability Challenges
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