OREA In the News

Mortgage Broker News: Canadian home sales boosted by price growth slowdown, stricter rules

The recent decline in Canadian real estate prices and tougher regulations that will take effect on January 1 are impelling sales. Brokers reported a 3.9% jump in transactions in November, the Canadian Real Estate Association said in its data release late last week. This represented the second biggest increase in two years, as well as the fourth consecutive rise in transactions (the longest streak since early 2016).

 

Mortgage Broker News: CREA slashes 2018 sales forecast amid tighter regulations

The Canadian Real Estate Association (CREA) has cut its home sales forecast for next year due to the impact of tighter mortgage regulations that come into effect New Year’s Day, which are expected to rein in spending for some buyers. CREA said in an updated projection late last week that the banking regulator’s revised mortgage underwriting guidelines, which include a stress test for uninsured mortgages, will reduce sales activity across the country, particularly in and around Toronto and Vancouver.

 

CTV: Condos and climbing prices: 5 real estate trends to expect in 2018

With tighter mortgage regulations coming in January, some uncertainty surrounds the real estate market in 2018. Real estate expert Karyn Filiatrault spoke with CTV’s Your Morning on Monday, to share the five real estate trends she expects in 2018:

 

 

 

Advisor.ca: REMIND CLIENTS: CONSIDER MORTGAGE PRE-APPROVAL AHEAD OF NEW RULES

If your client is looking to buy a new home, she might want to get pre-approved by New Year’s Eve.

New mortgage rules are effective January 1, 2018, for homebuyers with down payments of 20% or more (uninsured mortgages). If your client receives mortgage pre-approval before Jan. 1, 2018, and she purchases a home before her pre-approval expires, she won’t be affected by the new rules, says TD Bank in an infographic.


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