There is no need to worry about paying those higher mortgage payments when purchasing your next home. After last week, when the Department of Finance changed the insured mortgage rules, we watched to see how those changes would affect the average Prime Mortgage and we saw that those changes did...
A number of reports were recently released that paint a brighter picture for Vancouver's housing market. A strong boost in multi-family building has helped to keep momentum going as new construction is holding steady. Many are seeing this as a sign of good things to come for Canadian real estate.
The Canada Mortgage and Housing Corporation (CMHC) has recently reported that so far this year in the Vancouver Census Metropolitan Area (CMA) there were 11,477 units that have started construction, an increase of 21 per cent over the same period in 2010.
According to a recent Reuters article, Finance Minister Jim Flaherty said that he continues to monitor the country's housing market, which has some "hot spots", but said the situation remained stable. "We have seen some moderation in the housing market in Canada," Flaherty said.
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