Real Estate News, Articles, Reports, Analysys & Trends

10/2/2023 | Posted in Home Owners by Paul Solomons
SHARE

With interest rates increasingly expected to stay higher for longer, many of the homeowners who locked in low rates years ago are likely bracing themselves for financial pain ... More

Homeowners brace for mortgage payment shock amid higher-for-longer rate outlook

9/27/2023 | Posted in Mortgage News by Paul Solomons
SHARE

Canadian banks have approximately $250 billion in mortgages with repayment terms set at 35 years or longer

... More

Banking regulator working with lenders to stamp out ultra-long mortgages

9/29/2023 | Posted in Canada Living by Paul Solomons
SHARE

Millions of Canadians want to achieve their dream of homeownership, but affordability remains out of reach for many, and changing that will be a slow journey according to ... More

Housing affordability has improved but there's no quick fix, says RBC

9/29/2023 | Posted in Mortgage Interest Rates by Paul Solomons
SHARE

Mortgage providers across the country have been busy raising rates over the past week, and it could continue next week with as bond yields continue to rise.

... More

Latest in mortgage news: Mortgage rates keep surging higher

9/22/2023 | Posted in Mortgage Interest Rates by Paul Solomons
SHARE

Fixed mortgage rates could surge higher in the coming week after Government of Canada bond yields—which lead fixed mortgage rates—shot up to a 16-year-high.

... More

Fixed mortgage rates expected to surge as bond yields reach 16-year high

9/22/2023 | Posted in New Developments by Paul Solomons
SHARE

August activity at more than 60% below the region's 10-year average sales level

... More

GTA new home sales activity hovers near-record lows

9/19/2023 | Posted in Canada Living by Paul Solomons
SHARE

Canadians are paying more for housing as of August 2023 than in the past three decades, Statistics Canada data shows.

... More

Canadian housing costs have hit 30-year high, StatCan data shows

9/19/2023 | Posted in Toronto Real Estate by Paul Solomons
SHARE

Multiplexes will now be permitted to be built across Toronto after being approved by councillors on Wednesday in a bid to create more housing options.

... More

Council votes to permit multiplexes in all Toronto neighbourhoods

9/15/2023 | Posted in Canadian Housing Market by Paul Solomons
SHARE

Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were down on a month-over-month basis in August 2023.

... More

Canadian Home Sales Fall Back in August

9/14/2023 | Posted in Mortgages and Real Estate by Paul Solomons
SHARE

Canadian mortgage borrowers continued to see their interest costs climb in the second quarter, which have now soared over 80% since the Bank of Canada started raising interest ... More

Mortgage interest costs now up over 80% since the start of the BoC's rate hikes

9/12/2023 | Posted in Real Estate Investments by Paul Solomons
SHARE

Investors in Canada’s residential real estate market accounted for a larger share of mortgaged purchases than repeat homebuyers in recent years despite rising interest ... More

Investors have increased their share of mortgaged homebuyers

9/8/2023 | Posted in Home Buyers by Paul Solomons
SHARE

It’s no secret that Canada’s banking regulator has its sights set on fixed-payment variable-rate mortgage products. And OSFI chief Peter Routledge reiterated that ... More

OSFI seeks to address problem of fixed-payment variable-rate mortgages

9/6/2023 | Posted in Interest Rates by Paul Solomons
SHARE

The Bank of Canada held its key interest rate steady at five per cent today, citing recent evidence that suggests the economy is weakening.

... More

Bank of Canada holds key rate steady at 5 per cent, says economy is weakening

9/6/2023 | Posted in GTA Real Estate by Paul Solomons
SHARE

Higher borrowing costs, continued uncertainty about the economy and Bank of Canada decision making, and the constrained supply of listings resulted in fewer home sales in ... More

Higher Borrowing Costs Continue to Impact Housing Market in August

9/5/2023 | Posted in Toronto Real Estate by Paul Solomons
SHARE

Housing affordability in Toronto would remain strained even in the event of a deep economic recession, a new Desjardins analysis has found, highlighting the challenge ahead in ... More

Toronto housing market would stay unaffordable even in deep recession: report

9/1/2023 | Posted in Canadian Economy and Interest Rates by Paul Solomons
SHARE

Economists say the latest GDP data from Statistics Canada showing a contraction in the economy suggests the Bank of Canada's rate hiking campaign may be coming to an ... More

Economists see Bank of Canada holding on rates after surprise GDP contraction

9/4/2023 | Posted in Financial Health by Paul Solomons
SHARE

Higher living costs are pushing more and more Canadians into debt, according to a new report.

... More

Household debt levels set new record high in Q2

9/4/2023 | Posted in Interest Rates by Paul Solomons
SHARE

This is despite a projected slight drop in the BoC’s policy rate by the end of 2024 or early 2025

... More

Sustained low interest rates no longer possible, says former BoC governor

8/28/2023 | Posted in Canadian Housing Market by Paul Solomons
SHARE

The Bank of Canada's June and July interest rate increases essentially put a stop to the housing market’s recovery, says analyst.

... More

No end in sight to housing affordability crisis, says BMO's Guatieri

8/28/2023 | Posted in Canadian Housing Market by Paul Solomons
SHARE

Interest rates and borrowing costs may be surging - but Canadian home prices are continuing to rise at a rapid clip, according to new data.

... More

What's next for home prices in Canada?

8/24/2023 | Posted in GTA Real Estate by Paul Solomons
SHARE

Single-family home sales up 11% this year, but can't make up for condo sales decline, July report states.

... More

GTA condo sales down 51% from 2022 levels: BILD

8/23/2023 | Posted in Mortgage Interest Rates by Paul Solomons
SHARE

Despite interest rates potentially being at or near a peak, borrowers aren’t betting on rate cuts anytime soon.

... More

Fixed rates back as top mortgage product of choice: National Bank

8/22/2023 | Posted in GTA Real Estate by Paul Solomons
SHARE

Fuelled by a drop in prices, there was a “short burst of home-buying activity” in the Greater Toronto Area (GTA) during this year’s second quarter, but it was ... More

Detached home prices declined in all but four of Toronto's neighbourhoods last quarter: report

8/18/2023 | Posted in New Developments by Paul Solomons
SHARE

Many Canadian homebuyers waiting patiently for construction to finish on their pre-sale unit are being met with cancellation notices from developers. The building environment ... More

1 in 5 homebuilders are nixing projects amid high rates. Here are your rights

8/18/2023 | Posted in Real Estate Market by Paul Solomons
SHARE

Home prices posted the second-highest increase ever recorded in a single month after the one observed in July 2006, according to the latest Teranet-National Bank composite ... More

Real estate report: Second highest home price increase ever recorded in a single month

8/15/2023 | Posted in Commercial Real Estate by Paul Solomons
SHARE

A new report by Colliers Canada predicts the national office vacancy rate could peak at approximately 15 per cent by the end of 2024 as the rise of hybrid work models prompt ... More

Office vacancy rate could peak in 2024 as hybrid work models gain popularity: report

8/14/2023 | Posted in Recreational Properties by Paul Solomons
SHARE

The pandemic-era robustness observed in Canada’s recreational real estate segment has moderated amid mounting borrowing costs coupled with reduced demand, according to a ... More

Recreational property market activity is slowing down

8/14/2023 | Posted in Home Buyers by Paul Solomons
SHARE

Originally introduced to mitigate borrower default risks in the event of rising interest rates, some brokers now argue that Canada’s mortgage stress test is no longer ... More

Canada's mortgage stress test: Obsolete or still doing its job?

8/15/2023 | Posted in Canadian Housing Market by Paul Solomons
SHARE

Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were only slightly changed on a month-over-month basis in July 2023.

... More

Canadian Home Sales See Little Change From June to July

8/12/2023 | Posted in Rental Market by Paul Solomons
SHARE

Amidst continued interest rate hikes and economic challenges, the average asking price for a rental unit in Canada reached another new record of $2,078 in July, according to a ... More

July sees unprecedented spike in average Canadian rental unit asking prices: report
Ask Paul Solomons

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