Real Estate News, Articles & Corporate Announcements

11/29/2023 | Posted in Mortgage News by City Heights Realty
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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

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

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12/5/2023 | Posted in GTA Real Estate by City Heights Realty
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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

Real Estate & Mortgage News

11/28/2023 | Posted in GTA Real Estate by City Heights Realty
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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

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11/21/2023 | Posted in Mortgages and Real Estate by City Heights Realty
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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

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

Real Estate & Mortgage News

11/20/2023 | Posted in Canadian Economy and Interest Rates by City Heights Realty
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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

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11/15/2023 | Posted in Canadian Housing Market by City Heights Realty
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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

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

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11/14/2023 | Posted in Rental Market by City Heights Realty
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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

Real Estate & Mortgage News

11/9/2023 | Posted in Mortgages and Real Estate by City Heights Realty
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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

Real Estate & Mortgage News

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

Real Estate & Mortgage News

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

Real Estate & Mortgage News

11/3/2023 | Posted in Canadian Economy and Interest Rates by City Heights Realty
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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

Real Estate & Mortgage News

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

Real Estate & Mortgage News

11/2/2023 | Posted in GTA Real Estate by City Heights Realty
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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

Real Estate & Mortgage News

11/1/2023 | Posted in Canadian Economy and Interest Rates by City Heights Realty
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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

Real Estate & Mortgage News

10/31/2023 | Posted in Mortgages and Real Estate by City Heights Realty
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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

Real Estate & Mortgage News

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

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

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10/20/2023 | Posted in Mortgage News by City Heights Realty
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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

Real Estate & Mortgage News

10/18/2023 | Posted in Home Owners by City Heights Realty
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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

Real Estate & Mortgage News

10/18/2023 | Posted in Mortgage News by City Heights Realty
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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

Real Estate & Mortgage News

10/17/2023 | Posted in Canadian Housing Market by City Heights Realty
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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

Real Estate & Mortgage News

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

Real Estate & Mortgage News

10/12/2023 | Posted in Home Owners by City Heights Realty
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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

Real Estate & Mortgage News

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

Real Estate & Mortgage News

10/13/2023 | Posted in Canadian Housing Market by City Heights Realty
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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

Real Estate & Mortgage News

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

Real Estate & Mortgage News

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