Real Estate News, Articles & Corporate Announcements
11/29/2023 | Posted in Mortgage News by City Heights Realty
SHARE
The Liberal government last week unveiled a “new” Canadian Mortgage Charter aimed at ensuring lenders offer relief to mortgage borrowers who are struggling to make ... More

12/4/2023 | Posted in Canadian Economy and Housing Market by City Heights Realty
SHARE
US 'drives the bus' on long-term interest rates – but BoC likely to push ahead with cuts, suggests economist ... More

12/5/2023 | Posted in GTA Real Estate by City Heights Realty
SHARE
High borrowing costs and uncertain economic conditions continued to weigh on Greater Toronto Area (GTA) home sales in November 2023. Sales were down on a year-over-year basis, ... More

11/28/2023 | Posted in GTA Real Estate by City Heights Realty
SHARE
Home prices in the Greater Toronto Area are expected to slide once again next year, according to a new report from one of the country’s largest real estate brokerages. ... More

11/21/2023 | Posted in Mortgages and Real Estate by City Heights Realty
SHARE
From a crackdown to short-term rentals to new investments to create more housing supply, the federal government made housing a key component of its Fall Economic Statement ... More

11/23/2023 | Posted in Mortgages and Real Estate by City Heights Realty
SHARE
High interest rates have applied the brakes to Canada’s mortgage market, which saw growth slow to a 22-year low in September. ... More

11/20/2023 | Posted in Canadian Economy and Interest Rates by City Heights Realty
SHARE
Without that boost in spending, the central bank’s key overnight lending rate would be about 3 per cent instead of the current 5 per cent, according to Scotiabank ... More

11/15/2023 | Posted in Canadian Housing Market by City Heights Realty
SHARE
Statistics released today by the Canadian Real Estate Association (CREA) show national home sales declined on a month-over-month basis in October 2023. ... More

11/15/2023 | Posted in Mortgages and Real Estate by City Heights Realty
SHARE
Surging interest rates are weighing down on current homeowners – and further turbulence is on the horizon ... More

11/14/2023 | Posted in Rental Market by City Heights Realty
SHARE
The average asking rent in Canada has increased by about $175 over the past six months, and is now nearly 10% higher compared to a year ago. ... More

11/9/2023 | Posted in Mortgages and Real Estate by City Heights Realty
SHARE
Residential mortgage debt in Canada totalled $2.14 trillion as of August this year, up by 3.4% compared with the same month in 2022 as the value of uninsured mortgages outstanding ... More

11/7/2023 | Posted in Canadian Economy and Interest Rates by City Heights Realty
SHARE
Experts are anticipating the BoC benchmark interest rate to retreat to 4% by the end of next year ... More

11/9/2023 | Posted in Canadian Economy and Interest Rates by City Heights Realty
SHARE
The Bank of Canada’s No. 2 official urged preparation for interest rates staying elevated for longer. ... More

11/3/2023 | Posted in Canadian Economy and Interest Rates by City Heights Realty
SHARE
Canada’s unemployment rate ticked up two basis points to 5.7% in October, suggesting the Bank of Canada can now remain “firmly on the sidelines,” economists say. ... More

11/4/2023 | Posted in Rental Market by City Heights Realty
SHARE
Rental prices in Canada reached a new high with the average asking price of $2,149 per month, according to a new report. ... More

11/2/2023 | Posted in GTA Real Estate by City Heights Realty
SHARE
Lack of affordability and uncertainty remained issues for many would-be home buyers in the Greater Toronto Area (GTA) in October 2023. As a result, sales edged lower compared to ... More

11/1/2023 | Posted in Canadian Economy and Interest Rates by City Heights Realty
SHARE
Bank of Canada governor Tiff Macklem says the central bank held its key interest rate at five per cent in part because of the effect a wave of upcoming mortgage renewals is ... More

10/31/2023 | Posted in Mortgages and Real Estate by City Heights Realty
SHARE
Canadian homeowners are facing a significant payment shock on their mortgages unless interest rates decline in the coming years, according to a new Royal Bank of Canada (RBC) ... More

10/25/2023 | Posted in Canadian Economy and Interest Rates by City Heights Realty
SHARE
The Bank of Canada delivered its second straight rate hold today, but signalled that it remains concerned about inflationary risks and price pressures. ... More

10/19/2023 | Posted in Commercial Real Estate by City Heights Realty
SHARE
'Turbulence' is the best way to describe the current challenges, according to executive ... More

10/20/2023 | Posted in Mortgage News by City Heights Realty
SHARE
Many in the mortgage industry reacted with surprise after learning about a little but very important nugget buried in an OSFI report released earlier this week. ... More

10/18/2023 | Posted in Canadian Economy and Interest Rates by City Heights Realty
SHARE
The overnight rate could settle around 3%, according to leading economist ... More

10/18/2023 | Posted in Home Owners by City Heights Realty
SHARE
Police forces and legal experts in Ontario are pushing for the provincial government to make legislative changes that would reduce elaborate fraud scams targeting homeowners. ... More

10/18/2023 | Posted in Mortgage News by City Heights Realty
SHARE
Canada’s banking regulator has revealed its decision on initial public consultation regarding its B-20 guidelines, indicating in a statement yesterday that it will not ... More

10/17/2023 | Posted in Canadian Housing Market by City Heights Realty
SHARE
Home resales fell by 1.9 per cent across Canada in September, the third month in a row that resale rates have dropped, according to a new report by RBC. ... More

10/16/2023 | Posted in Commercial Real Estate by City Heights Realty
SHARE
Altus Group research finds commercial tax rates 3x higher than residential in more than half of cities surveyed ... More

10/12/2023 | Posted in Home Owners by City Heights Realty
SHARE
Canada’s banking regulator says the sustained increases in interest rates over the past 18 months have challenged some borrowers’ ability to pay and led to a ... More

10/5/2023 | Posted in New Developments by City Heights Realty
SHARE
The number of new single-detached houses under construction in the first half of 2023 was down 25% compared to last year. ... More

10/13/2023 | Posted in Canadian Housing Market by City Heights Realty
SHARE
Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were down on a month-over-month basis in September 2023. ... More

10/7/2023 | Posted in Mortgages and Real Estate by City Heights Realty
SHARE
Upcoming mortgage renewals at high interest rate levels will potentially drive the Canadian economy into a more severe downturn than anticipated. ... More

At Your Service
Thinking of buying or selling a property, or have a question regarding the real estate market? Fill out the form below and we'll get back to you promptly.