The Ravine on York Mills
The Ravine is Phase 1 of a multi-building development bordering on the pristine ravine area on York Mills at the 404. Sales start Saturday April 2, 2016 in an exclusive Realty Point Open House event.

Three U.S. Trends That Could Push Canadian Mortgage Rates Higher
We look at three developing U.S. trends which have the potential to both push our mortgage rates higher, and to do so more quickly than expected.

Playing Home Price Hopscotch in U.S. and Canada
For the nation as a whole, the year-over-year increase in the average resale price has been +16.4%. Three cities have contributed the largest bumps: Vancouver (+25.6%); Toronto (+14.9%); and Victoria (+11.3%).

Buyers suffer most in bidding wars—observer
An industry observer noted that the recent upswing in the phenomenon of low-ball listings—in which properties are initially registered at 5 to 10 per cent below their market value—has precipitated intense bidding wars that have led to an uncontrollable upward spiral in Vancouver real estate prices.

Realty Point Upcoming Seminars

• Saturday, April 2, 2016 – New Agent Orientation Training Seminar

For more information and to register click here.
Location:
Realty Point
240 Duncan Mill Road, 6th Floor, Toronto ON, M3B 3S6
Free Saturday parking on-site.

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The homes now dominating top-tier markets
$4 million-plus properties are in such high demand in Vancouver and the Greater Toronto Area (GTA), they now represent the fastest growing sector in both cities’ housing markets.

Analysts: Chain reaction of increases in bank-funded mortgage rates possible
Experts said that the mortgage rate hikes effective this week, spurred in part by a beleaguered economy and a struggling petro-currency, would entail greater expense on the part of the banks.

Chinese controls on capital could affect Canadian property: Don Pittis
The Shanghai correspondent for the Financial Times, Gabriel Wildau, reported that China is moving to step up capital controls in an effort to stem the flood of cash out of the country.

Toronto condo market to remain vibrant in 2016
Factors such as low vacancy rates and an extremely dynamic market shield the Greater Toronto Area (GTA) from the shockwaves of the global oil crashes

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Federal government increases minimum down payment for homes over $500,000
Homebuyers will now have to put 10 per cent down on the portion of the home purchase price over $500,000.

465,000 people may miss start of Ontario’s low-income energy rebate
The lights go out on Ontario’s provincewide energy rebate Dec. 31 — and fewer than seven per cent of the eligible low-income households have applied for the discount program intended to replace it, CBC News has learned. Have you passed information about this rebate program to your clients?

CMHC says annual pace of housing starts picks up in November to 211,916
The Canada Mortgage and Housing Corp. said Tuesday the annual pace increased to 211,916 units in November compared with 197,712 units in October. That compared with the 197,300 that had been expected by economists, according to Thomson Reuters.

Brokers scoff at O’Leary’s housing take
“Based on O’Leary’s track record, everyone should run out right now and buy houses,” Dave Larock, a broker with Integrated Mortgage Planners wrote in the comments section of MortgageBrokerNews.ca. “This is the same guy who told everyone to lock in to a fixed-rate mortgage in 2012 when they were offered at 3.00%, predicting that anyone who didn’t would get ‘slammed.’” Also read “Housing starts rise unexpectedly, fuelling boom“.

Ottawa may want to consider targeted steps to cool mortgage borrowing: report
Steps that could be considered included raising required credit scores, capping total debt-service ratios at lower levels, increasing qualifying interest rates or varying the minimum down payment by the size of the mortgage.

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Stephen Harper pledges higher RRSP withdrawal limit for 1st time homebuyers
Increasing the upper limit to the Home Buyer’s Plan is a great idea, allowing more Canadians to purchase their first home. Also read “Harper pledges to track foreign property ownership“.

What the Current Canadian and U.S. Employment Trends Mean for Our Mortgage Rates
The latest Canadian employment data was less encouraging, showing a shift in momentum away from full-time work toward more part-time work, but that trend was offset by rising wages and signs of renewed export growth. Also read “Ultra-low interest rates are here to stay says mortgage lender” and “The Fed Will Probably Raise Interest Rates Twice in 2015“.

Mortgage brokers calling for tighter regulations in wake of alleged fraud
Bad press for mortgage brokers and fraudulently completed mortgage applications cast a long shadow on the industry.

July housing starts slip from June: CMHC
Despite the 5.9% drop in urban housing starts supply continues to meet demand. Also read “Value of Canadian building permits jumps nearly 15 per cent in June, says Stats Canada“.

CMHC Releases Quarterly Results of its House Price Analysis and Assessment Framework for Canada and 15 Markets
Of particular interest in this report : “In the case of Toronto, strong price acceleration in 2015 reflects a larger share of sales of pricier homes. The rise in house prices have not been matched by growth in personal disposable income, giving rise to a modest risk of overvaluation”.