Real Estate in the News

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Our weekly wrapup of the important real estate news stories we’re following.

Bank of Montreal lowers interest rate on 5-year fixed mortgage to record low 2.79% –
Spring is in the air and with the busy home sales season ahead of us the Bank of Montreal has lobbed the first volley in the mortgage rate wars. We expect more banks to follow suit in the next few days. Also read “Spring mortgage market kicks off with a new low rate from Bank of Montreal — but you can do better“.

GTA Realtors March Mid-month Resale Housing Figures –
March 2015 mid-month home sales figures released by TREB show a year-over-year increase of 11.8% over the same period in 2014. Listing are also up 8.4%.

Canadian home prices to fall 40-50 per cent, financial author says –
Hilliard MacBeth, author of “When the Bubble Bursts”, is predicting a 40%-50% price drop in the Canadian housing market due to over-borrowing by home buyers because of ultra-low interest rates, the slow growth of household income and the uncertainty of what low oil prices will bring to the market. Also read “Canadians’ net wealth hits new highs, debt bubble a ‘myth’: experts” and “The Present State of Real Estate in Canada“.