Billy Ng- Mortgage Services

https://financialpost.com/real-estate/cmhc-scraps-first-time-homebuyer-incentive

CMHC scraps first-time homebuyer incentive CMHC is scrapping its First Time Home Buyers' Incentive. The program will no longer approve new requests after March 31. Find out more.

https://financialpost.com/news/bankruptcies-soaring-especially-canada

Posthaste: Bankruptcies are soaring, but especially in Canada Business insolvencies in Canada jumped the most in 36 years of records in 2023, amid high interest rates and a weak economy. Read more

https://financialpost.com/news/economy/what-bank-of-canada-might-think-about-inflation-data

'Risk of a second wave increasing': What the inflation numbers mean to the Bank of Canada Inflation ticked up in December and economists weigh in on what this means to the Bank of Canada and interest rates. Read more.

https://financialpost.com/news/bank-of-canada-could-still-cut-rates-april-economists

Posthaste: Bank of Canada could still cut interest rates in April, say these economists Bank of Canada could still cut interest rates as early as April, despite this week's inflation 'setback'. Find out why

https://financialpost.com/news/economy/cooler-inflation-raises-odds-bank-of-canada-interest-rate-hold

Cooling inflation raises odds of Bank of Canada interest rate hold Inflation in Canada slowed to 3.1% in October, just above the Bank of Canada's target range. Here is what economists say

https://financialpost.com/real-estate/bank-of-canada-hold-suffocating-mortgage-payments-stay

Bank of Canada hold means 'suffocating' mortgage payments to stick around Inflation is cooling, but the burden of high interest rates is still weighing on homeowners with mortgage payments to stay higher. Read on.

A new report is highlighting the widening gap between the average price of Vancouver real estate and what the average earner can afford.

Mortgages far out of reach for median income earners in Vancouver: report A new report is highlighting the widening gap between the average price of Vancouver real estate and what the average earner can afford.

https://financialpost.com/personal-finance/homeowners-selling-home-mortgage-payments-climb

Homeowners on the brink face tough choice of selling home as mortgage payments climb As more and more homeowners face mortgage renewals at higher interest rates, some are facing the prospect of having to sell. Read more here

https://financialpost.com/opinion/conservative-housing-policy

Opinion: How conservative is the Conservatives’ housing policy? Not very There is nothing conservative about the Conservatives’ proposed housing policy. Read more.

https://financialpost.com/news/economy/bank-of-canada-hikes-done-interest-rates-high-economists

Bank of Canada hikes done, but interest rates to stay high: economists The Bank of Canada will hold its key interest rate near the current level of 5% until the third quarter of 2024, economists say. Read on.

The national housing market slowed last month with sales and prices tumbling between July and August as the Bank of Canada's latest interest rate hike rattled buyers.

National home sales fall 4% between July and August as market slows: CREA The national housing market slowed last month with sales and prices tumbling between July and August as the Bank of Canada's latest interest rate hike rattled buyers.

https://storeys.com/canadian-house-prices-fall-2024-recession/

Canadian House Prices To Fall 10% In 2024 As Economy Slips Into Recession The Canadian economy is on the cusp of a mild recession, with downturned conditions expected to bleed into 2024. Accordingly, prices are on track to slip an additional 10% by early next year. Forecasting released Wednesday by Mortgage Professionals Canada (MPC) and Oxford Economics says that althoug...

https://financialpost.com/investing/bank-of-canada-could-cure-inflation-other-market-thoughts

How the Bank of Canada could cure inflation — and four other market thoughts Market thoughts on how the Bank of Canada could cure inflation, the return of greed and energy stocks' no-show. Read more from Peter Hodson

As housing prices across the country continue to be unaffordable for many would-be homebuyers, an increasing number of Canadians are opting to purchase property with family or friends, according to a recent survey from Royal LePage.

‘Growing in popularity’: More Canadians buying homes with family, friends amid affordability crisis, survey says As housing prices across the country continue to be unaffordable for many would-be homebuyers, an increasing number of Canadians are opting to purchase property with family or friends, according to a recent survey from Royal LePage.

https://financialpost.com/real-estate/canadas-real-estate-market-hot-or-not

Mixed signals: Why it's hard to tell if Canada's real estate market is hot or not right now The Financial Post asked realtors in Vancouver and Toronto to assess whether the housing markets are hot or not. Read more here.

https://www.cbc.ca/news/canada/calgary/calgary-rent-increase-report-1.6951129

Calgary's rental prices climbing faster than anywhere else in the country, report says | CBC News Touted in recent years as one of Canada’s most affordable cities, Calgary’s rental prices are now increasing faster than any other large market in the country.

https://storeys.com/homebuyers-in-the-game-prices-despite-interest-rate-hikes/

Canadian Homebuyers “Still In The Game" Despite Rate Hikes A report says that demand remains strong amongst Canadian homebuyers as the post-pandemic housing correction continues to subside.

https://nationalpost.com/pmn/business-pmn/toronto-new-condo-demand-cools-but-prices-seen-firm-as-developers-delay-launches

Toronto new condo demand cools but prices seen firm as developers delay launches TORONTO — Demand for pre-construction condominiums across Toronto has started to soften with rising interest rates, but market- watchers say developers are…

https://financialpost.com/news/rising-mortgage-costs-prices-not-turning-off-canadians-housing-market

Posthaste: Rising home prices, mortgage costs not stopping these Canadians from believing now's the time to buy a house More first-time homebuyers and those who plan to buy soon think it's a good time to buy a house compared to the general population. Read on.

https://financialpost.com/real-estate/canadians-more-interest-property-investing-royal-lepage

One in four Canadians plans to buy investment property in next five years: Royal LePage survey A Royal Lepage survey found that just over a quarter of all Canadians plan to buy an investment property before 2028. Read more here.

https://financialpost.com/real-estate/toronto-condo-market-recovery-will-rebound-last

Toronto's condo market is showing signs of recovery, but does the rebound have staying power? Mortgage payments on a condo in Toronto are now closer to the cost of renting for a lot of potential buyers. Find out more.

https://financialpost.com/real-estate/toronto-housing-market-sales-prices-rise-march

Toronto home prices rise as competition heats up in tight market Toronto housing market may have turned the corner in March as rising competition pushed sales and prices higher. Find out more

A new survey suggests that despite high interest rates and an uncertain economy, confidence in real estate as an investment remains high among Canadians who live in large cities. https://www.cp24.com/news/survey-suggests-urban-canadians-remain-optimistic-about-real-estate-1.6314904

Survey suggests urban Canadians remain optimistic about real estate A new survey suggests that despite high interest rates and an uncertain economy, confidence in real estate as an investment remains high among Canadians who live in large cities.

While Toronto has seen a significant dip in home prices as borrowing costs have gone up over the past year, other places in Ontario are seeing an even more dramatic drop according to a new report released Monday. https://www.cp24.com/news/these-are-the-ontario-communities-that-are-expected-to-see-the-biggest-home-price-declines-1.6301182

These are the Ontario communities that are expected to see the biggest home price declines While Toronto has seen a significant dip in home prices as borrowing costs have gone up over the past year, other places in Ontario are seeing an even more dramatic drop according to a new report released Monday.

https://www.cnn.com/2023/03/15/investing/credit-suisse-shares-saudi-national-bank

Credit Suisse shares crash as Saudi investor rules out more funds | CNN Business Shares of Credit Suisse crashed more than 20% Wednesday to a new record low after its biggest backer appeared to rule out providing any more funding for the embattled Swiss lender.

https://www.cbc.ca/news/canada/toronto/ontario-housing-homes-approved-not-built-1.6774509

Ontario has over a million homes in the pipeline, but needs developers to put shovels in the ground: report | CBC News Ontario has more than 1.25 million potential new homes already in the development pipeline, it just needs to figure out how to convince builders to get shovels in the ground, the experts who manage planning in cities across Ontario say.

https://toronto.ctvnews.ca/will-the-bank-of-canada-raise-mortgage-rates-again-in-2023-here-s-what-industry-experts-predict-1.6216395

Will the Bank of Canada raise mortgage rates again in 2023? Here's what industry experts predict The Bank of Canada raised its key overnight lending rate seven times last year, increasing it to 4.5 per cent in December in an effort to tame Canada’s runaway inflation.

加國11月通脹微降至6.8% 食品雜貨價升11.4%超上月 | 明報加拿大 https://mingpaocanada.app.link/2mXbPJi2Yvb

加國11月通脹微降至6.8% 食品雜貨價升11.4%超上月 | 明報加拿大 【明報專訊】由於汽油價格下降，加拿大上月通脹率降至6.8%﹐但食物和房租的成本則繼續上漲。

https://www.bankofcanada.ca/2022/12/fad-press-release-2022-12-07/

Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%.

Several real estate industry observers say the housing market isn't roaring back, despite October delivering the first month-over-month uptick in home sales since February. https://www.cp24.com/news/canadian-october-home-sales-up-from-september-first-monthly-increase-since-february-1.6153446

Canadian October home sales up from September, first monthly increase since February Several real estate industry observers say the housing market isn't roaring back, despite October delivering the first month-over-month uptick in home sales since February.