Canadian Real Estate News Headlines (May 10th 2019)
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I provide you with Canada’s news headlines for real estate news for today.
Government down payment loan program coming up short, say Island realtors
Six months into a government loan program aimed at helping more Islanders buy their first-time homes, P.E.I.'s Real Estate Association said it's hoping for some changes.
The association said the program isn't working as well as they had hoped. Their concerns centre around the eligibility requirements of household income and the purchase price of the home.
Canadian tenant portal expanding in the US
Canadian workplace experience platform, Lane announced its expansion into the US on the heels of $2.5 million in funding from Alate Partners, Panache Ventures and Colliers/Techstars.
The funding will be used for new hires and office openings in the US, including New York and Los Angeles, slated for the third quarter of this year. Lane has leased 1,550 s/f of office space at 350 7th Avenue in Williamsburg that is expected to move into “soon.”
Mortgage Rates Steady as Bank of Canada Holds Interest Rate
The Bank of Canada meets every six weeks to revise the interest rate. Typically, officials aim to reduce the rate when the economy is slow and in need of an incentive. When it is strong and growing quickly, they tend to raise rates to keep this growth under control.
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