Hello everyone,
Here are today’s Canadian real estate news headlines.
Toronto Real Estate Now Has The Fastest Growing Gap Between Sales And New Listings
A recent report by the Canadian Real Estate Association (CREA) shows the declining home sales and more new listings in October. Despite this, only 6 out of 27 major markets are in “buyer’s market” territory, according to Better Dwelling.
Check here for more details.
Haider-Moranis Bulletin: Canadians’ addiction to debt adds risk to real estate market
“A recent report by the Bank of Canada identifies the high-risk borrowers who are more vulnerable to economic shocks, such as a sudden loss in income or a rapid increase in mortgage rates. The highly indebted young borrowers have low-ratio mortgages, which are usually uninsured and have loan-to-value ratios below the 80 percent threshold. But that’s of little comfort: Their mortgage credit is large relative to their incomes, with loan-to-income ratios more than 450 percent”, according to Financial Post.
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New mortgage rules could disqualify 10% of buyers says Bank of Canada
The new mortgage stress tests could disqualify about 10% of prospective home buyers with larger down payments, according to the Bank of Canada.
Check here for more details.
Picture: Verne Ho
Davisville Village Home Sales Statistics for October 2017
Leaside & Bennington Heights Sales Statistics for October 2017
Find out what your home is worth here!
Jethro Seymour, Toronto Real Estate Broker. Search Toronto’s live MLS listing here.
