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Posts Tagged ‘Finance’

April Real Estate Newsletter

Friday, April 6th, 2018

 


Making your Real Estate needs my Priority

Dave Dry
Realtor, Century 21 Masters
Website: www.davedry.com
Blog: blog.davedry.com
Direct: 780 446 3727
Fax 1 866 217 4642

201, 10555-172 Street, NW, Edmonton, AB   T5S 1P1

Ph: 780.483.2122

110 – 5 Giroux Road, St. Albert, AB T8N 6J8

Ph: 780.460.8558

105, 4302-33 Street, Stony Plain, AB T7Z 2A9

Ph: 780.963.2285

 

Unisured mortgages on the rise as rules tighten

Tuesday, March 20th, 2018

Canada’s uninsured mortgage market reached an eight-year high in January as government steps to reduce taxpayer exposure to the housing market gain traction, according to data from the country’s banking regulator.

Mortgages that don’t require homeowner insurance surged 19 per cent from a year ago, accounting for about 53 per cent of the $1.13 trillion (US$864 billion) of home loans at Canada’s federally regulated banks, data from the Office of the Superintendent of Financial Institutions show. Insured home loans fell 6.5 per cent from a year ago.

Uninsured mortgages have taken an increasing share of the nation’s housing loans since 2012 as the government moved to reduce the chances of the kind of taxpayer-funded bank bailouts that happened after the U.S. housing crash a decade ago.

Still, the slowdown of residential mortgage volumes continues, with banks posting a 5.3 per cent increase from January 2017, down from a recent high of 6.6 per cent in May, the data show. The trend reflects the sentiments of executives of Canada’s Big Six banks, who commented on a cooling mortgage market in recent weeks after reporting earnings results for the first quarter.

Uninsured mortgages have taken an increasing share of the nation’s housing loans since 2012. Ernest Doroszuk/Toronto Sun/Postmedia Network

“The slowdown in mortgage growth has been evident since the middle of last year, reflecting the impact of prior policy measures, as well as three interest rate hikes by the Bank of Canada,” DBRS Ltd. said in a March 19 note.

In January, OSFI made it more difficult for those with more than a 20 per cent down payment to qualify for loans. The measures, known as B-20 guidelines, requires borrowers to qualify at the greater of the Bank of Canada’s five-year benchmark rate or 2 percentage points higher than the offered mortgage rate. Prospective borrowers have increasingly been turning to alternative lenders to qualify.

“With new mortgage rules taking effect on January 1, home sales have showcased two straight months of declines,” Barclays Plc analyst John Aiken said in a March 16 note to clients. “While stronger home sales at the end of 2017 could still buoy mortgage growth in the second quarter, we anticipate new mortgage origination volume could be tested in the back half of the year.”

Bloomberg.com

Taken from: http://business.financialpost.com/real-estate/mortgages/uninsured-mortgages-soar-to-8-year-high-even-as-canadas-housing-market-cools March 20 2018

 

 

 

 

 

Making your Real Estate needs my Priority

 

 

 

 

 

Dave Dry

Realtor, Century 21 Masters
Website: www.davedry.com
Blog: blog.davedry.com
Direct: 780 446 3727
Fax 1 866 217 4642

 

201, 10555-172 Street, NW, Edmonton, AB   T5S 1P1

Ph: 780.483.2122

 

110 – 5 Giroux Road, St. Albert, AB T8N 6J8

Ph: 780.460.8558

 

105, 4302-33 Street, Stony Plain, AB T7Z 2A9

Ph: 780.963.2285

 

March Real Estate Newsletter

Tuesday, March 6th, 2018

 

Making your Real Estate needs my Priority

Dave Dry
Realtor, Century 21 Masters
Website: www.davedry.com
Blog: blog.davedry.com
Direct: 780 446 3727
Fax 1 866 217 4642

201, 10555-172 Street, NW, Edmonton, AB   T5S 1P1

Ph: 780.483.2122

110 – 5 Giroux Road, St. Albert, AB T8N 6J8

Ph: 780.460.8558

105, 4302-33 Street, Stony Plain, AB T7Z 2A9

Ph: 780.963.2285

February 2018 Real Estate Newsletter

Friday, February 9th, 2018

Making your Real Estate needs my Priority

Dave Dry
Realtor, Century 21 Vantage Realty Ltd
Website: www.davedry.com
Blog: blog.davedry.com
Office: 780 483 2122
Direct: 780 446 3727
Fax 1 866 217 4642

January 2018 Real Estate Newsletter

Thursday, January 4th, 2018

Making your Real Estate needs my Priority

Dave Dry
Realtor, Century 21 Vantage Realty Ltd
Website: www.davedry.com
Blog: blog.davedry.com
Office: 780 483 2122
Direct: 780 446 3727
Fax 1 866 217 4642

 

November 2017 Real estate Newsletter

Wednesday, November 1st, 2017

Making your Real Estate needs my Priority

Dave Dry
Realtor, Century 21 Vantage Realty Ltd
Website: www.davedry.com
Blog: blog.davedry.com
Office: 780 483 2122
Direct: 780 446 3727
Fax 1 866 217 4642

 

October 2017 Real Estate Newsletter

Tuesday, October 3rd, 2017

 

Making your Real Estate needs my Priority

Dave Dry
Realtor, Century 21 Vantage Realty Ltd
Website: www.davedry.com
Blog: blog.davedry.com
Office: 780 483 2122
Direct: 780 446 3727
Fax 1 866 217 4642

September 2017 Real Estate Newsletter

Wednesday, September 6th, 2017

Making your Real Estate needs my Priority

Dave Dry
Realtor, Century 21 Vantage Realty Ltd
Website: www.davedry.com
Blog: blog.davedry.com
Office: 780 483 2122
Direct: 780 446 3727
Fax 1 866 217 4642

August 2017 Real Estate Newsletter

Tuesday, August 15th, 2017

Making your Real Estate needs my Priority

Dave Dry
Realtor, Century 21 Vantage Realty Ltd
Website: www.davedry.com
Blog: blog.davedry.com
Office: 780 483 2122
Direct: 780 446 3727
Fax 1 866 217 4642

July 2017 Newsletter

Monday, July 10th, 2017

 

Making your Real Estate needs my Priority

Dave Dry
Realtor, Century 21 Vantage Realty Ltd
Website: www.davedry.com
Blog: blog.davedry.com
Office: 780 483 2122
Direct: 780 446 3727
Fax 1 866 217 4642

 

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