Mississauga Real Estate Board News

Mortgage Broker News: Toronto's detached home sales catching up to multi-family activity (2018-08-21)

 Read moTransaction information from the Toronto Real Estate Board covering the period August 1-15, 2018 showed that activity in the detached housing segment is steadily catching up to multi-family sales, especially in comparison to last month’s numbers. The TREB data indicated that detached home sales went up by 12% year-over-year in the City of Toronto and up 17% in the GTA. These were considerable improvements from the Board’s mid-July numbers, which showed detached sales declining by 4% year-over-year in the City of Toronto and increasing by 9% across the GTA. Read more...




MuskokaRegion.com: Muskoka real estate, price hikes and attainable homes: Meet Wendy Webb (2018-08-21)

Wendy Webb, a Bracebridge Realtor became president of the Lakelands Association of Realtors in August. “Now, more than ever, it’s essential to use a Realtor because of the current real estate climate,” she said. “You need a plan, and to have a Realtor a guide you is so important.” The market, she said, offered benefits to homeowners who are witnessing their properties increase in value. But the market also posed new challenges for both buyers and sellers — and Realtors could guide clients through the buying and selling process. Read more...




CBC News: Big banks set to reveal quarterly profits as NAFTA fears and rate hikes loom (2018-08-21)

The big Canadian banks are set to reveal their quarterly earnings over the next week, and investors will take a close look to see whether anxiety over higher interest rates and an uncertain trade environment are hurting the economy's prospects. After all, beneath their staid and boring surface, the five big banks are the churning engine of the Canadian economy, managing loans and investments for consumers, and loaning out money for businesses to expand. More rate hikes are expected, and in theory, higher rates are good news for banks — they get to charge customers higher interest rates for loaning them money. But that's only true if tighter lending conditions don't make it harder for them to drum up new business. Currently, the five biggest banks dominate the Canadian mortgage market, providing nearly two-thirds of mortgages. Read more...




Mortgage Broker News: Should mortgage professionals be prohibited from selling these? (2018-08-21)

While the Financial Services Commission of Ontario amended the rules for mortgage professionals’ involvement with non-qualified syndicated mortgages—including a $60,000 investment cap—not everybody thinks it’s enough. “Since 2016, I have told people over and over again that there is no way that mortgage people should have ever been licensed to sell syndicated mortgages,” said Calum Ross, a leverage wealth expert and VERICO broker with Mortgage Management Group. “Despite the fact that they’re now cracking down on this, the bigger question is why were they ever allowed to sell them, and who’s going to pony up the cheques when a massive amount of investors lose a huge amount of money?” Ross is adamant that syndicated mortgages are beyond mortgage professionals’ depth of knowledge. Read more...




Toronto Sun: Want space in a condo? Move to Barrie (2018-08-21)

So what does $500,000 get you in a condo? It all depends on where you live of course. But the available space can vary a lot, depending where you go in Ontario, according to a market update of the Greater Golden Horseshoe (GGH) area just released by The Altus Group. Given significant affordability challenges in Toronto, along with tighter mortgage rules, prospective home buyers have never been more motivated to look at other markets outside of the city. And your best condo value in the Greater Golden Horseshoe area is? By a country mile, turns out it’s Barrie. For $500,000, you can get 1,401 sq. ft. of condo space (two bedrooms, one den) versus only 521 sq. ft. (one bedroom) in Toronto — almost three times as much space for the dollar. Read more...




Toronto Storeys: Laneway housing new by-laws are officially in effect in Toronto (2018-08-21)

Laneway housing offers 2400 solutions to Toronto’s housing crisis. And now the “Changing Lanes” motion has officially concluded its required appeal periods — without appeals. Changing Lanes can be the game changer Toronto housing needs. Back in June, Toronto Storeys reported that the Toronto and East York Community Council finally approved regulations that would allow homeowners with properties that backed onto laneways to build a small house at the back of their lot. Those small homes could be used as rentals or granny suites. Read more...




REM Online: Save time by automating your marketing (2018-08-21)

Do you feel like you’re spending way too much time marketing and not enough time on other aspects of your business? (Or your life?) One of the many benefits of using marketing tools like email and social media is the ability to automate. Once the systems are set up they work in the background and help nurture prospects through the sales funnel, leaving you more time to do more important things. Read more...




Canadian Real Estate Wealth: Point2 Homes says more people searching for homes (2018-08-21)

One of Canada’s leading property search websites has seen a strong growth in visits in the year to July 2018. Points2 Homes says that it reached a record 6 million visits in the month, a 47% rise in a year, based on Google Analytics data. It also says that it generated 39% more leads for real estate agents. Canadian-based visits accounted for 40% of the total led by Toronto, Ottawa, Calgary, Vancouver, and Saskatoon. US traffic was close behind. Read more...




Canadian Real Estate Wealth: Confidence in the economy, real estate is growing (2018-08-21)

Canadians are becoming more confident in the outlook for the economy, real estate prices, and their finances. The weekly Bloomberg Nanos Canadian Confidence Index recorded a 56.58 reading last week, up from 55.87 a week earlier and 54.31 four weeks ago. The 2018 low was in mid-July (54.21). The sub-indexes on personal finances and job security; and expectations for the economy and real estate prices; were both higher last week. Read more...




Real Estate Professional: Why 1 in 5 professionals could be a risk for lenders (2018-08-21)

Thousands of Canadian professionals may present a risk to mortgage lenders due to the transient nature of their work. A report published Tuesday by the Canadian Centre for Policy Alternatives Ontario warns that despite high levels of education, credentials, skills, and even experience, 22% of Canadian professionals are in precarious jobs. That means no steady income, pension, sick pay and benefits. Read more...




Canadian Real Estate Wealth: Good news for Toronto landlords, bad news for renters (2018-08-20)

A new report from Rentals.ca reveals that, in the one-bedroom category, Toronto rents have surpassed Vancouver’s, but the latter’s two-bedroom units are still Canada’s most expensive. “Toronto has been a hot market,” said Matt Danison, CEO of Rentals.ca. “The prices keep going up and up and up. Toronto and Vancouver are always battling for the top rents in the country; it’s always neck and neck. Toronto overtook Vancouver for the month July.” The average one-bedroom in Toronto costs $1,862 to rent, while in Vancouver it’s a hair lower at $1,833. A two-bedroom unit in Vancouver rents for an average of $2,583 a month, and for $2,193 Toronto. Read more...




REM Online: Brian Rushton: Century 21 and Zillow (2018-08-20)

Earlier this year, Century 21 Canada announced an exciting partnership with Zillow, the largest online real estate network in the U.S. We’re thrilled to lead the way as Zillow’s first Canadian partner. However, often with innovation and change comes uncertainty, and we know many of you have questions around what Zillow coming to town means for us, our clients and the industry. So, I want to tell you why we are partnering with Zillow and clarify a few major misconceptions and inaccuracies I’ve heard bubbling within the industry. Read more...




CP24: Canadian banks to report strong quarter amid housing stability, interest rate hikes (2018-08-20)

Canada's biggest banks are expected to report yet another strong quarter as the country's housing market shows signs of stability and rising interest rates add to their bottom line. Royal Bank of Canada is the first lender to report its fiscal third-quarter results on Wednesday, and most analysts are expecting "solid" growth across the industry, with estimates of earnings-per-share growth as high as 10 per cent year-over-year. "We believe the earnings environment sets up well for a strong second half... With the Canadian housing market behaving itself, investors can turn their attention away from that and towards earnings, which have been supported by (profit) margin expansion, operating leverage, and growth in the expansion segments," said Robert Sedran, an analyst with CIBC Capital Markets in a research note. Read more...




CBC News: U.K.'s Purplebricks comes to Canada in a bid for real estate disruption: Don Pittis (2018-08-20)

An international online property powerhouse has purchased one of the world's top web-based, commission-free real estate companies in a bid to shake up the Canadian home-selling industry. Last month's successful $51-million bid for Quebec-based duProprio means "For Sale" signs bearing the name Purplebricks will soon start popping up across Canada, says the company's president, Michael Bruce. Also watch for some major advertising campaigns. Traditional Canadian real estate agents scoff at the idea Bruce can disrupt how homes are sold here with his discount model that charges a flat fee for the services of a real estate agent rather than a sales commission. But from a standing start in 2012, Purplebricks has taken over about five per cent of the British market and has expanded to Australia, the U.S., and now Canada. Read more...




Toronto Star: Whether buying or selling, due diligence is key in real estate: Ask Joe (2018-08-20)

Last week I touched on the distinction between patent and latent defects in a home, and when they should be disclosed — with the proviso that buyers and sellers alike should seek the advice of a real estate lawyer on the subject. To recap: a patent defect is a problem with a home that is easily observable, such as a broken window, a missing door or a visibly leaking basement. Sellers are not required to disclose patent defects to potential buyers, so it’s the responsibility of the buyer to find them. That’s why I encourage buyers to hire an experienced home inspector or specialized inspector, if the need arises, and to make any offers conditional upon the successful completion of a home inspection. Read more...




Mortgage Broker News: Moody's reveals impact of collapsed housing market on Canadian banks (2018-08-20)

Canadian banks are well positioned should a housing collapse, like the one that catalysed the Great Recession, occur here. With ever-rising housing prices and increased mortgage lending, especially in Toronto and Vancouver—the two most expensive markets in the country—the fallout from a collapsed housing market would be substantial. However, according to Moody’s Investors Service, while the losses would be high, government, regulators, and Canadian banks have instituted protective measures, including larger capital buffers, over the last couple of years that would avert a calamitous economic event because of the latter’s ability to absorb losses. Read more...




Toronto Storeys: Toronto has the most cranes in North America – which means the most development (2018-08-20)

It may not be a glorious sight, but the sight shows a bright future: Right now, Toronto has the most construction cranes in North America — which indicates massive development. Toronto has an estimated 97 active construction cranes as of July 2018, according to the recent Rider Levett Bucknall Index (RLB Crane Index). This means the city has more than double the number of cranes of Chicago, four times as many as San Francisco, and about five times as many cranes as New York City. In fact, Seattle, which places second for the number of cranes, sits far behind Toronto at 65. From Toronto’s 97 cranes, 85 are for the construction of condos, residential buildings and/or mixed-use properties. The remaining cranes are for commercial developments. Read more...




Toronto Star: Do the homeowners or photographers own the rights to photos of the property? (2018-08-20)

When the sellers of a home hire a stager to help market and sell it, who owns the rights to the before and after photographs — the homeowners, the listing agent or the home stager? Can the photos be used without the owners’ permission? Those were the questions posed to me by my clients when they saw before and after photos of their condominium used without their permission on the website of a popular local magazine. Read more...




MSN: The future of living: The homes millennials are choosing (2018-08-20)

Nestled among the hipster hangouts of Copenhagen’s Meatpacking District, a team of 20- and 30-something design entrepreneurs is reimagining the future of how we live. In a renovated former fishery, Space10 is furniture giant Ikea’s lab for testing prototypes and ideas for better and more sustainable ways of existing: from insects and algae replacing meat to indoor gardens for city dwellers. Among the new frontiers for Space10 is “co-living.” An umbrella term for housing shared by two or more people who are not related, the idea is experiencing a revamp driven by young professionals in cities, who may be more digitally connected yet feel lonelier than ever. From New York and London to New Delhi and Shanghai, millennials are increasingly blurring the lines between home, work and play — sharing spaces to save money and time as well as make new friends. Read more...




Canadian Insider: BILD empowers 15 families living in need of decent, affordable housing to become first-time homeowners (2018-08-20)

In response to the growing need for affordable housing in the Greater Toronto Area, BILD has raised over one million dollars for Habitat GTA since 2003. BILD hosts annual events to raise funds and engage their members to connect with Habitat GTA's mission and cause. For their 15-year anniversary, BILD will host five events in 2018, with a goal of raising $80,000. Funds raised in 2018 will go toward building a Habitat home for the Bhuttooah family at Habitat GTA's 13-home project at McLaughlin Road North in Brampton. Read more...




Real Estate Professional: Larger monthly payments are saddling an already indebted consumer base (2018-08-17)

Loans that were accumulated during the record-low interest rates of past years have become lifelines for Canadian households trying to remain solvent, but paying off this debt is almost certainly the biggest challenge that Canadian borrowers will face in the near future, according to a recent study using data from Equifax. The analysis conducted by the Canada Mortgage and Housing Corporation found that average monthly housing payments were much higher in Q1 2018 compared to Q4 2017. Read more...




Mortgage Broker News: Apartments remain a top residential choice in Toronto (2018-08-17)

Elevated housing prices kept the apartment segment near the top of Toronto home buyers’ preferences so far this year, according to a new report by real estate investment services company Marcus & Millichap. The firm’s “July 2018 Toronto Multi-family Spotlight” report noted that apartments for both residential and commercial use have exhibited continuous activity despite regulatory changes. “Rent controls put in place recently have yet to slow investor demand or rent growth as was previously feared. Strong rental demand and improving property performance will keep sales activity elevated this year, particularly in areas near employment hubs with transit connectivity,” according to the study. Read more...




Mortgage Broker News: Stats indicate adjustment to B-20 (2018-08-17)

Real estate sales in Canada are trending upward and it’s likely an indication that consumers have come to grips with B-20. Canadian Real Estate Association sales statistics for July show  national home sales rose 1.9% over the previous month—and according to REMAX’s regional executive vice president, that means buyers have finally adjusted to stricter qualification rules. “It certainly looks like consumers are slowly becoming accustomed to the B-20 mortgage qualification guidelines,” said Elton Ash. “It’s occurring a little later than we thought, and that seems to be the reason why inventory levels are dropping in the Toronto area.” Read more...




Real Estate Professional: Office market is solid but demands are changing (2018-08-17)

Things are looking positive for Canada’s office real estate market but a new report highlights the changing demands of tenants that may require a rethink by landlords. Avison Young says that size, physical form, and operational function of office space all need to be considered in meeting demand from tech companies, co-working spaces, and young, innovative businesses. The report looks at 67 markets including major centres in Canada, the U.S., Mexico, the United Kingdom, Germany and Romania. These include Calgary, Edmonton, Halifax, Lethbridge, Montreal, Ottawa, Regina, Toronto, Vancouver, Waterloo Region, and Winnipeg. Mark E. Rose, chair and CEO of Avison Young, says that despite the volatility in financial markets, geopolitics, and economies, the commercial real estate sector is generally functioning under relatively sound fundamentals. Read more...




Real Estate Professional: Barriers still in place for women (2018-08-17)

Although a growing number of women can be counted among top producers and brokers of record, brokerage ownership remains preponderantly male-dominated. “When it comes to brokerage ownership, I don’t think we’ve seen a trend in the direction we need,” said Kathleen Black, president and CEO of Black Coaching & Consulting. “We’re still underrepresented in those areas, and when it comes to top team leaders expanding to the size teams are capable of, we’re also underrepresented. There are many more expectations when it comes to women leaders and they’re much harder on themselves. Sometimes it’s difficult to do what you need to do to scale your business effectively.” The paucity of women is even more pronounced in the commercial sector where most agents are men—never mind brokerage owners. Read more...




REM Online: Not all leads are created equal (2018-08-17)

Lead generation is the No. 1 one challenge I hear from real estate agents every day. It’s a challenge in many highly competitive industries. I face a similar challenge in my industry and over the past 10 years of running a business through highs and lows, I can safely say that not all leads are created equal. What do I mean by this? As I’ve said, not all leads are created equal and there are a bazillion opinions on the subject of lead generation. It’s no surprise really, since pretty much every business on the planet needs to attract customers. And that is fundamentally what lead generation is – the process of attracting potential customers to your business on a consistent and predictable basis. And the right leads are easier to convert so you spend less time chasing and more time selling. Read more...




Toronto.com: Etobicoke tenants protest to demand better treatment from landlords (2018-08-17)

As a longtime tenant of Humberview Towers, Frank Yearwood has learned to always keep a 20-gallon jug of water under the counter in case of an emergency water shortage — an occurrence he alleges has taken place all too frequently during his seven-year tenancy at the north Etobicoke high-rise. “Sometimes there’s no hot water, and sometimes you get no water at all. And I would say at least half the tenants in the building have the same problem,” Yearwood said of the living conditions at 2677 Kipling Ave. during an interview with The Etobicoke Guardian on Aug. 14. “When I called one evening last year to find out why I didn’t have any water, the super said to me, ‘OK, Frank, give me 10 minutes and I’ll turn it back on.’ “They’re turning the water off on us! We pay our rent to be happy, not to be miserable, and (the landlords) are taking no responsibility for what they’re doing. Enough is enough.” Read more...




Daily Commercial News: A carbon tax will cost households, hurt housing and not affect the world’s climate (2018-08-17)

While the OECD’s overall short-term outlook for Canada is quite positive, it highlights a number of serious risks. First, the OECD expressed the view (shared by others including ourselves) that uncertainty about global trade in general and about Canada’s trade prospects posed a significant risk to the economy’s near term health. Second, highly leveraged first-time home buyers are vulnerable to the impact of the higher interest rates. Read more...




Times Colonist: Canada is third most overvalued country for real estate: Economist (2018-08-16)

 Canada has been ranked the world's third most overvalued country in the world for real estate, at 56 per cent higher than it should be based on typical incomes, according to a global house price index by The Economist. Canada was beaten only by New Zealand and Australia in the rankings by the U.K.-based financial publication’s research team. Looking at 22 major global cities, of which Metro Vancouver was the only Canadian city, The Economist reported that Vancouver real estate is valued at 65 per cent higher than it should be, based on local incomes. In terms of real estate values versus median household incomes, Metro Vancouver was deemed the fifth most overvalued of 22 major global cities studied, after Hong Kong, Auckland in New Zealand, Paris, and Brussels in Belgium. Read more...




REM Online: How property taxes impact real estate affordability (2018-08-16)

Just as market conditions vary dramatically across Canada’s major urban centres, so too can homeownership carrying costs. While monthly mortgage payments will indisputably take up the largest chunk of a homeowner’s shelter budget, the costs for utilities and property taxes are also important considerations for prospective home purchasers. In a competitive offer situation, though, it can be easy to overlook the financial impact these associated costs can have on homeowners, and the fact that in the nation’s most heated markets, property taxes are poised to rise over time alongside home values. Read more...




Huffington Post: Home sales in Canada rise modestly as CREA warns of continuing hard times for buyers (2018-08-16)

The Canadian Real Estate Association says home sales in July were up 1.9 per cent compared with June. The increase was led by the Greater Toronto Area, while more than half of all local housing markets reported an increase in sales from June to July. Compared with a year ago, sales in July were down 1.3 per cent due to fewer sales in major urban centres in British Columbia. CREA chief economist Gregory Klump suggested Canadian homebuyers would continue to struggle with the tougher new environment for homebuyers. Read more...




Mortgage Broker News: Why were so many borrowers renewing with the same lender last year? (2018-08-16)

According to a Canada Mortgage and Housing Corporation analysis, mortgage renewals with different lenders in Toronto declined dramatically in 2017 compared to the year before. Tania Bourassa-Ochoa, a senior economic researcher with CMHC, theorizes that the 25.7% decline can be attributed to the B-20 rule changes in 2016. Read more...




Yahoo Finance: Canada’s big banks building a ‘capital cushion’ in case of a housing crash: Moody’s (2018-08-16)

Canada’s biggest banks are better equipped to weather a domestic housing price downturn than they were two years ago, even though total mortgage-related losses would be larger, and the nation’s two riskiest provinces account for a bigger chunk of mortgage portfolios, according to a new report. Moody’s Investors Service found that Canada’s seven largest lenders built up more robust capital cushions between 2016 and 2018, reserves that would come in handy during the credit rating agency’s hypothetical housing crash scenarios. “Our analysis shows banks’ capital ratios have substantially increased since 2016, which enables them to absorb higher expected losses in their growing mortgage exposures,” Moody’s Vice President Jason Mercer wrote in a news release on Wednesday. Read more...




Canadian Real Estate Wealth: Is the impact of the stress test starting to fade? (2018-08-16)

National home sales improved in July with a 1.9% rise in sales compared to the previous month. CREA says that although sales have been trending higher over the past three months now, they are still running below the levels seen a year earlier. A major factor in this year’s weaker activity has been the B-20 mortgage guideline changes at the start of the year, specifically the introduction of mortgage stress tests. "This year's new stress-test on mortgage applicants continues to weigh on home sales but its effect may be starting to fade slightly in Toronto and nearby markets," said CREA President Barb Sukkau. "The degree to which the stress-test continues to sideline home buyers varies depending on location, housing type and price range.” Read more...




Windsor Star: Bank of Montreal launches blockchain-based pilot for fixed-income transactions (2018-08-16)

The Bank of Montreal’s capital markets arm says it has successfully launched a pilot involving the use of blockchain in a Canadian dollar debt deal transaction. BMO Capital Markets says the fixed-income issuance transaction included the bank as the issuer and the Ontario Teachers’ Pension Plan as the buyer of $250 million of one-year floating rate deposit notes. The bank says the pilot transaction was booked as a traditional issuance through the Canadian Depository for Securities but mirrored on a blockchain platform. Read more...




Homes Magazine: Survey finds majority of Canadians aren’t living in their ideal home (2018-08-16)

A new survey commissioned by CENTURY 21 Canada found most Canadians aren’t getting close to their ideal living situation until well into their 50s. The survey of 1,000 Canadian adults living in eight metropolitan centres across the country found that, when asked how close their current living situation is to their ideal, 41 per cent ranked their situation as close to their ideal (8 – 10 on a 10-point scale), while 43 per cent ranked their situation moderately close to their ideal and 16 per cent far from their ideal. Read more...




CTV News: Online searches for payday loans exceed mortgage searches, new data shows (2018-08-15)

A search analytics firm has found that the number of online searches for payday loans far outranked mortgage-related queries over the past year in Canada. New data from SEMrush shows that payday loans came in first out of 10 different types of loans, garnering an average search volume of 29,000 a month on search engines such as Google. That's more than 50 per cent above what would-be borrowers wracked up in mortgage searches, which hit 18,800 a month between June 2017 and June 2018. Read more...




Huffington Post: Here's Where House Prices Have Risen And Fallen Across Canada (2018-08-15)

These are uncertain times in Canada's housing markets. The house-price boom is over in Toronto, but no one's really sure where the market is headed next. In Vancouver, solid price growth over the past year has been replaced by a deep sales slump this summer. The overall market is showing "neither strength nor deep weakness," says National Bank economist Marc Pinsonneault. Read more...




Canadian Real Estate Magazine: There were fewer new mortgages in 2017 CMHC data shows (2018-08-15)

There was a slight decline in the volume of new mortgage loans in 2017 according to an analysis of consumer credit data from CMHC. The corporation says that it looked at new mortgages originated for new owners, repeat buyers, refinances, multiple mortgage holders, and renewals with a new lender. Renewals with an existing lender are not included as they can’t be detected as new due to the non-changing open dates. The analysis shows that in 2017 there were 959,074 new mortgages, down 6.5% decline from 2016. Read more...




Mortgage Broker News: Average monthly payments now much higher compared to last year (2018-08-15)

Paying off the debt accumulated during the long afternoon of rock-bottom interest rates would likely be the biggest challenge for Canadian borrowers in the next few years, according to a joint analysis by Equifax and the Canada Mortgage and Housing Corporation. A combination of rising interest rates and the larger debt loads of recent years have pushed average monthly housing payments much higher in Q1 2018 compared to Q4 2017, Better Dwelling reported. The CMHC and Equifax warned that this is just the beginning as interest rate growth is trending towards more normal levels, coming off from the record lows of the past few years. Read more...





  • Picture
  • Picture
  • Picture
  • Picture
  • Picture
  • Picture
  • Picture
  • Picture
  • Picture
  • Picture
  • Picture
Mississauga Real Estate Board
3450 Ridgeway Dr #1
Mississauga, ON L5L 0A2, Canada
Phone: 905.608.6732
Fax: 905.608.9988