According to a recent report from Re/Max Canada, the surge in housing activity in the first half of the year was driven by buyers looking to upsize their homes, taking advantage of a period of stability in interest rates. This surge came after a housing correction that hit its “trough” in January when the Bank …
A new report released by the Canadian Centre for Policy Alternatives (CCPA) reveals that minimum wage earners across Canada are struggling to keep up with rental costs due to increasing interest rates and a lack of affordable housing. The report analyzes housing markets in Canada using the concept of a “rental wage” – the hourly …
As the summer heat settles in Canada, cottages are becoming more affordable, but rising inflation and interest rates are putting a damper on the plans of first-time buyers, according to real estate experts. With the Bank of Canada recently raising its key interest rate and the possibility of future hikes, it’s worth considering whether now …
This article is part of Global News’ Home School series, an informative resource for Canadians on the housing market. Finding your dream home can be a challenging process, but crafting a convincing bid doesn’t have to be. In this article, we’ll explore how to create a bid that sellers won’t ignore, covering everything from bid …
Decrease article font size Increase article font size In June, the housing market in Canada experienced a slowdown due to the Bank of Canada’s interest rate hikes and an increase in new listings, according to the Canadian Real Estate Association. Compared to April, home sales only saw a 1.5% increase in June, with gains in …
The Bank of Canada’s decision to raise interest rates for the second time is expected to have a cooling effect on the national housing market, which saw a surge in activity during the spring. However, experts are warning that the supply of homes for sale is too tight for significant price drops. Concerned about a …
This article is part of Global News’s Home School series, designed to provide Canadians with essential information about the housing market that they may not have learned in school. For first-time homebuyers, it can be overwhelming to search for available properties online. Listings vary greatly from one neighborhood to another, and without answers to important …
The housing market in Canada will not be fully suppressed by the Bank of Canada’s interest rate hikes, according to a new report from Desjardins. The report emphasizes that the housing market rebounded strongly since March, coinciding with the pause in rate increases that ended recently. Although another interest rate increase is expected in July, …
According to a new report published by Royal LePage, a quarter of first-time homebuyers in Canada are relying on financial assistance from sources outside of their immediate families to make their mortgage payments. This trend is attributed to rising home prices and higher interest rates, which make it increasingly difficult for young Canadians to afford …
In May, Canada’s housing market experienced continued growth, but experts believe that the Bank of Canada’s decision to raise interest rates could slow down the rebound. The Canadian Real Estate Association (CREA) reported that sales increased in 70% of local markets last month. Compared to the previous month, sales activity rose by 5.1%, and there …