Hello, everyone.
I provide you with Canada’s news headlines for real estate news for today.
Realtors brace for next mortgage crackdown amid shadow banking fear
According to BNN,
The real estate industry is “holding its breath” as regulators look to extend tough mortgage rules in the face of a sharp slowdown in the country’s largest market.
Canada’s banking regulator, the Office of the Superintendent of Financial Institutions, is taking aim at the uninsured mortgage market – where homeowners make a down payment of 20 per cent or more. OSFI is proposing stringent stress tests for those borrowers, in line with what’s already happening in the insured market.
The detail is here.
Increase in new home prices reaches 7-year high in Metro Vancouver
According to CBC News,
Despite efforts by government and regulators to curb Metro Vancouver’s hot housing market, new home prices have continued to climb in the past year.
Recently released data from Statistics Canada shows the overall price of brand new houses and townhomes in the region has soared 6.2 per cent in the 12 months since June 2016.
The detail is here.
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Jethro Seymour, Toronto Real Estate Broker, Looking For Best Davisville Real Estate Listings? Contact Me!
Also published on Medium.
