March Existing Home Sales in Canada Hit New Record High As New Listings Surge To Unprecedented Levels

April 15, 2021

What is All the Policy Hysteria About? Today the Canadian Real Estate Association (CREA) released statistics showing national existing home sales hit another all-time high in March. What was arguably more noteworthy was that new listings hit their highest level on record in seasonally adjusted terms in March. Prices continued to rise as sales dwarfed the new supply. The number of homes sold across the country […]

OSFI Considers Setting a Minimum Qualifying Rate of 5.25% For Uninsured Mortgages

April 8, 2021

Banking Regulator Aims To Make It Tougher To Get An Uninsured Mortgage With several Big-Five bank CEOs calling for regulatory action to slow the red-hot housing market, it didn’t take long for the Office of the Superintendent of Financial Institutions (OSFI), the governor of federally regulated financial institutions, to respond. In a news release issued today, OSFI proposed an increase in uninsured mortgages’ qualifying rate to […]

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