Mortgage Lending Rules In Canada Continue To Tighten
Jun22

Mortgage Lending Rules In Canada Continue To Tighten

On 6/21/2012 several changes to mortgage lending rules that are aimed to address the high level of household debt in Canada, were outlined by Finance Minister Jim Flaherty. • The maximum amortization period for a mortgage with government-backed mortgage insurance (through Canada Mortgage and Housing Corporation, CMHC) has decreased to 25 years from 30 years. • The maximum amount that can be borrowed against a home has decreased to 80%...

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Variable Vs Fixed Rate Mortgage
Jan28

Variable Vs Fixed Rate Mortgage

Although rates have increased from their historical lows since the height of the financial crisis, they still remain relatively low. For those thinking about renewing or getting a new mortgage, the age old question of which type of mortgage to go with comes to mind.  Is a Fixed Rate Mortgage (FRM) or Variable Rate Mortgage (VRM) better?  Lets look at some considerations: . Mortgage Types Variable Rate Mortgage (VRM): A variable rate...

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Mortgage Lending Rules In Canada Tighten
Jan22

Mortgage Lending Rules In Canada Tighten

This week (1/17/2011) Finance Minister Jim Flaherty, outlined several changes to mortgage lending rules that are aimed to address the high level of household debt in Canada. • The maximum amortization period for a mortgage with government-backed mortgage insurance (through Canada Mortgage and Housing Corporation, CMHC) has decreased to 30 years from 35 years. • The maximum amount that can be borrowed against a home has decreased to...

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Office Real Estate Continues To Recover In Third Quarter
Nov29

Office Real Estate Continues To Recover In Third Quarter

North American office real estate companies have been seeing stronger leasing activity and increased occupancy rates.  This has added to stronger third quarter 2010 results (and 9 month results) for real estate investment trusts and corporations.  Heavy acquisition activity has also continued within the industry. . Brookfield Properties Corporation - Brookfield Properties Corporation [BPO/tse:BPO], one of North America’s largest...

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Retail Real Estate Sector See Further Recovery
Nov18

Retail Real Estate Sector See Further Recovery

North American commercial retail real estate companies have seen steadily improving results, through leasing and occupancy rates.  They reported stronger third quarter 2010 results (including 9 month results), with dividend increases starting to be seen.  In addition, debt levels have also decreased, while the stronger corporations and REITs have continued mall expansion (new developments) & acquisitions. . Calloway Real Estate...

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Competition Bureau Reaches Landmark Agreement with Canadian Real Estate Association

On Thursday, September 30, 2010, the Canadian Real Estate Association (CREA) and the federal competition authorities reached an agreement in principle.  The agreement allows sellers to choose which services they want from a real estate agent, and to pay for only those services. In February 2010, the The Bureau challenged the rules imposed by the CREA on real estate agents who list residential properties using the Multiple Listing...

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Mid-Year Update On Canadian Real Estate Market Outlook 2010

The Seasonally adjusted national home sales from the Multiple Listing Service (MLS) Systems of Canadian real estate boards declined 6.8% in July, from the previous month.   A decline of 30% (non-seasonally adjusted) in July compared to the previous year’s sales volume, was in large part due to the significant decrease in BC (-14.1%) and Ontario (-8.0%).  The HST (harmonized sales tax) went into effect on July 1, 2010.  The...

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Update on Canada’s Real Estate Market 2010

In Canada the housing sector has been very heated with demand outstripping supply across the country within the last six months. The underlying supply/demand fundamentals are currently very strong, with housing starts below long-term demographic needs.  At a national level, a February 2010 REMAX report examined real estate trends and developments across the country in 16 markets to find that inventory levels remained very tight. The...

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RCMP Probes Shire International Real Estate Investment Ltd

I found an interesting article in the news last week regarding Shire International, a limited partnership real estate firm based in Calgary, Alberta (Canada).  The RCMP (Royal Canadian Mounted Police), the Canadian version of the FBI, is investigating allegations against the firm in regards to fraud. A while back, there was a posting related to Shire on a popular Canadian forum, that I used to post on when I had a bit more time.  See...

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Ontario Provincial Energy Audit (Bill 150) Passed

Energy Minister George Smitherman’s proposed legislation, Bill 150, the Green Energy and Green Economy Act, has been passed in legislation.  The bill would make an energy audit compulsory for the sale and some leases of every residential property in Ontario, including houses, apartments, and condominiums.  Commercial and industrial is not included.  The legislation proposes that home sellers provide information via standardized...

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