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2180 Steeles Avenue West,
Suite 204, Concord,
ON, L4K 2Z5

  Phone:      905-761-7001 

  Toll Free: 1855-761-7001
  Fax:          905-761-7005
  Email: info@bestmortgagebrokersrates.com


News
12 May 2011

Toronto shows new house price increases


In March Canadian New Housing Price Index was left unchanged, following a 0.4% increase in February.
According to Statistics Canada, there were certain monthly hikes in some of the cities, but they were offset by declines in others. So in the end the national index hasn’t changed.
During the February-March period the largest increases were noted in Saint John, Fredericton and Moncton, N.B. (0.4%).

Toronto, Oshawa, Winnipeg and Regina has also shown price index increases up to 0,3%.
The most notable monthly price declines were recorded in Quebec City (0.7%), Windsor (0.6%) and Edmonton (0.2%).
As compared to the previous year’s results, the index was up 1.9% in March. In February there was a slightly larger hike of 2.1%.  

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11 May 2011

New spring consumer report from CAAMP


Recently a new spring consumer report by Canadian Association of Accredited Mortgage Professionals (CAAMP) was released. It concerns the stability in the Canadian mortgage market.
Here are some of the main report’s items:
•    Today there are $855 billion in mortgages on primary residences and $215 billion in Home Equity Lines of Credit (HELOC).
•    On average, HELOC borrowers have about 65% equity in their houses.

•    HELOC is more popular among middle age homeowners.
•    From $26 billion of annual equity take outs $9.4 billion were used for renovations and $5.0 billion for different investments.
•    During the previous 12 months the average mortgage down payment was 30%.

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10 May 2011

U.S. sees a sharp home value decline


According to Zillow Inc. recent real estate report, in the first quarter of 2011 the U.S. home values fell at the fastest pace since late 2008. The report also says we might see bottom only in 2012.
It turned out the number of homeowners whose mortgage debts age larger than the houses’ current prices is also very high - 28.4%. The last quarter of 2010 showed a bit lower results – 27%. 

Foreclosures also went up: in March one out of every 1,000 houses was in foreclosure.

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14 May 2013

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7676 Woobine Avenue Suite 300 Markham, ON L3R 2N2
2180 Steeles Avenue West, Suite 204, Concord Ontario L4K 2Z5
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