Real Estate in the News

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GTA Realtors® Release Monthly Resale Housing Figures
Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area REALTORS® reported 7,385 home sales through TREB’s MLS® System in November 2015 – up by 14 per cent compared to November 2014. This result also represented the best result on record for the month of November. Sales through the first eleven months of 2015 amounted to 96,401.

House prices could fall 26% if oil hits $35 and stays for 5 years: CMHC
CMHC chief executive Evan Siddall presented that scenario to a Canadian Association of New York luncheon on Monday, saying house prices could decline by 26 per cent if that happened.

Bank of Canada keeps benchmark rate at 0.5% with economy unfolding as expected
The Bank of Canada says its trend-setting interest rate will remain unchanged because the economy is adjusting as expected to the bite of low commodity prices and weaker-than-expected demand from the United States.

Banking group warned government about mortgage risk sharing plan, documents show
The Conservative government had been looking at ways to reduce taxpayer exposure to the housing market, and the idea of forcing banks to pay a deductible on mortgage insurance claims was one of the ideas that it had floated.

Bursting real estate bubble, closing costs worry Ontario consumers
A survey by the Real Estate Council of Ontario (RECO) says almost seven in 10 boomers and seniors in the province are concerned about getting the most value from their current home, while almost half (48 per cent) worry about the real estate bubble bursting.

Ontario considers mandatory home energy ratings before selling property
The energy audits would pinpoint spots where homes waste heat and electricity. The property would be given a rating number similar to what consumers see on home appliances.

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