Canadian household credit growth slows for second straight month

But Scotiabank report says total borrowing by individuals rose by 3.7% month over month

Canadian household credit growth slows for second straight monthCanadian household credit growth decelerated in June as the slowing pace of mortgage expansion more than offset an acceleration in consumer credit, according to a new report by Scotiabank Economics. Home equity line of credit loans (HELOCs) remained flat in June, remaining on a weaker trajectory following strong increases through 2017 and 2018, it said.…

Calgary real estate market heating up: report

City could be classified as a sellers’ market in July, along with half of the nearby municipalities: Zoocasa

Calgary real estate market heating up: reportAfter several years of quieter real estate demand and activity, it appears Calgary and surrounding regional markets are in store for an uptick, says a report released on Wednesday by real estate technology firm Zoocasa. A hotter pace is already noticeable in the Calgary real estate market, said the report. “According to new analysis by…

Growing number of households outsourcing meal preparation

Kitchen stoves could soon be following the sewing machine as unnecessary household appliances

Growing number of households outsourcing meal preparationFor many of us, the kitchen has always been a sacred place in our homes, often referred to as the heart of the home. But kitchens seem to be losing their lustre. An increasing number of condos and apartments are being sold and rented without a stove. In pricey Yorkville, one of Toronto’s most expensive…

CMHC nudging more aggressively into housing market

The risk of housing price declines piles onto the risk CMHC already takes on when insuring mortgages

CMHC nudging more aggressively into housing marketCanada’s federal government will soon participate in the property bubble in a direct, equity-owning way through its new First-Time Home Buyer Incentive. But the merits of the program are questionable. Since the end of the Second World War, it’s been federal government policy to help low-income would-be home buyers via Canada Mortgage and Housing Corp.…

App gives real estate relationships a leg up

Tarynn Liv Parker of Listing Llama talks about helping people build a real connection with a realtor before listing or buying a home

App gives real estate relationships a leg upTarynn Liv Parker is CEO of Listing Llama. What is Listing Llama and what does it do? Tarynn: Listing Llama is a free app available in the Apple App Store, Google Play Store and online at listingllama.com. Our free tool helps home buyers and sellers to find the realtor who is right for them. It…

Mortgage restrictions force millennials to abandon home ownership

The result has significantly dampened the Canadian economy. Banks, not legislated stress tests, know best who can pay for houses

Mortgage restrictions force millennials to abandon home ownershipAn uproar is brewing over real estate in Canada, fuelled by a misguided attempt to protect willing homebuyers from themselves. Owners see prices declining, while prospective first-time owners find themselves locked out by mandated stress tests. The federal regulator should ease stress-test requirements – if not eliminate them altogether – before they cause further harm…

Calgary, Edmonton housing markets classified as balanced

Zoocasa report says Canadian real estate is creeping closer to a sellers’ market

Calgary, Edmonton housing markets classified as balancedCalgary and Edmonton have among the lowest rates in the country when it comes to sales-to-new-listings ratios for selling homes, according to Zoocasa, a real estate website providing online advanced search tools and data for consumer. On Thursday, the company released a report ranking the major housing markets across Canada by their ratios. Those ratios…

Two-thirds of non-bank residential mortgages are uninsured

Two-thirds of non-bank residential mortgages are uninsuredStatistics Canada reported Friday that non-bank mortgage lenders held 1.7 million residential mortgages in the fourth quarter of 2018, two-thirds of which were uninsured. At the end of the fourth quarter of 2018, 1.7 million residential mortgages with a total value of $325.5 billion were outstanding, it said, adding that the uninsured mortgages outstanding contributed…

Multi-family housing starts soar in Calgary and Edmonton

Multi-family housing starts soar in Calgary and EdmontonBoth the Calgary and Edmonton regions experienced a significant annual gain in the number of multi-family housing starts in June, according to a report released Tuesday by Canada Mortgage and Housing Corp. But the single-detached market struggled. In the Calgary census metropolitan area, single-detached starts of 310 were down 14 per cent from a year…

Calgary, Edmonton housing most affordable among major centres

RBC report says both cities’ housing markets are on the upswing

Calgary, Edmonton housing most affordable among major centresCalgary and Edmonton continue to be shining lights in comparison to other Canadian cities when it comes to affordability in owning a home. That was evident again on Thursday as RBC Economics released its latest Housing Trends and Affordability Report.  When it comes to the share of income a household would need to cover home…