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How Big is the Canadian Real Estate Bubble?

Before you can speculate about the size of a Canadian real estate bubble, you have to acknowledge there is one at all. While some experts say there is, and while even the government has taken measures that signal there is, the Canadian economy continues to thrive. Many economists say there isn’t a housing bubble — the market is just slowing Continue Reading

Index Retreated 1% in October

In October the Teranet–National Bank National Composite House Price Index™ was down 1.0% from the previous month, a second consecutive monthly decline and the largest since September 2010. The retreat was due to a 2.8% drop of the index for the Toronto market, the country’s largest. Indexes were also down on the month for five other metropolitan areas of the Continue Reading

New Canadian Mortgage Stress Test Rules Announced for 2018

New Canadian mortgage rules could make qualifying for a mortgage more difficult. On October 17, 2017, the Office of the Superintendent of Financial Institutions (OSFI) announced new Canadian mortgage rules, to be put into effect on January 1, 2018. The new regulation requires a mortgage stress test, assessing whether borrowers can withstand higher interest rates. The changes being implemented are: There Continue Reading