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mortgage

Rent hits another record high in January as average asking price reaches $2,196

by Anas Siddiqui
Rent hits another record high in January as average asking price reaches ,196

The average asking price for rent in Canada reached $2,196 in January, a 10 per cent increase from this time last year — marking another record high amid a deepening rental crisis. According to data released …

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January home sales jump 22 per cent from last year’s weak start

by Anas Siddiqui
January home sales jump 22 per cent from last year’s weak start

January home sales jumped 22 per cent compared with a year ago, the largest year-over-year increase since May 2021, according to The Canadian Real Estate Association. The association says the …

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Bank of Canada says government efforts to curb housing crisis will help ‘gradually’

by Anas Siddiqui
Bank of Canada says government efforts to curb housing crisis will help ‘gradually’

The Bank of Canada says record levels of immigration are driving up the cost of housing and recent government efforts to cut the number of non-permanent residents and encourage home building …

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LoanDepot outage drags into second week after ransomware attack

by Edgar Davis
LoanDepot outage drags into second week after ransomware attack

LoanDepot customers say they have been unable to make mortgage payments or access their online accounts following a suspected ransomware attack on the company last week. The mortgage and loan …

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Gasoline prices help drive inflation up to 3.4%

by Anas Siddiqui
Gasoline prices help drive inflation up to 3.4%

Canada’s annual inflation rate jumped to 3.4 per cent in December, according to data released by Statistics Canada on Tuesday. That’s after both October and November saw inflation hold steady at 3.1 per …

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National home sales in 2023 lowest since 2008 despite December ‘bounce,’ CREA says

by Anas Siddiqui
National home sales in 2023 lowest since 2008 despite December ‘bounce,’ CREA says

Canada’s housing market is seeing some of the lowest annual sales volumes in more than a decade, according to the latest statistics from the Canadian Real Estate Association, even though …

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A wave of defaults has real estate lawyers urging presale buyers to be cautious

by Anas Siddiqui
A wave of defaults has real estate lawyers urging presale buyers to be cautious

In 2021, Sudip Sehgall put down an $81,990 deposit on a yet-to-be-built townhouse in Surrey, B.C. While it was under construction, he occasionally visited the site to watch it grow. …

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Maltais’ short-handed goal lifts Toronto over New York for 1st PWHL win

by Virginia Chavez
Maltais’ short-handed goal lifts Toronto over New York for 1st PWHL win

Emma Maltais’ short-handed goal in the third period spoiled New York’s first home game in the Professional Women’s Hockey League as Toronto secured its first win with a 3-2 victory …

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What does 2024 have in store for the Canadian economy?

by Anas Siddiqui
What does 2024 have in store for the Canadian economy?

It’s been a long time since economic data in Canada showed very much promise. The last 18 months have been defined by a cost of living crisis and a slowing …

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Some mortgage rates are dropping, but renewed loans could keep economy slow

by Anas Siddiqui
Some mortgage rates are dropping, but renewed loans could keep economy slow

As some Canadian lenders expect central banks, such as the Bank of Canada, to lower influential interest rates in 2024, borrowers can expect a late Christmas present with lower rates on …

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