OREA In the News

Huffington Post: First-Time Buyers Giving Up On Toronto’s Housing Market, Poll Shows 

The reality of high house prices, rising interest rates and tougher new mortgage rules is sinking in for Canada's largest housing market, where first-time buyers are showing all the signs of fatigue. According to an Ipsos survey carried out for the Toronto Real Estate Board(TREB), far fewer first-time buyers will be lining up to get on Toronto's property ladder this year than was the case last year. The news comes as preliminary data for January shows Toronto's housing market slowing considerably at the start of this year, in the wake of interest rate hikes and a new mortgage qualification "stress test" at the major banks. 

Globe and Mail: Ontario regulator revokes broker licenses in syndicated mortgage case 

An Ontario regulator has revoked the mortgage broker licences of five companies and individuals associated with the Tier 1 group of companies after an investigation into syndicated mortgage investment pools they were promoting to investors. Brian Mills, Ontario's Superintendent of Financial Services, has revoked the mortgage brokerage licences of First Commonwealth Mortgage Corp., Tier 1 Mortgage Corp., Jude Cassimy, David Balkissoon and Bhaktraj Singh. 

Advisor: WIDESPREAD GROWTH—INCLUDING IN FINANCIAL SERVICES—BOOSTS GDP 

Real gross domestic product (GDP) increased 0.4% in November, says StatsCan, with growth reported in 17 of 20 industrial sectors. The finance and insurance sector grew 0.3% in November, after four consecutive months of decline. Financial investment services, funds and other financial vehicles were up 0.5%, says StatsCan, as market activities involving securities, mutual funds and trusteed pension assets increased. 

Reuters: Canada economy picks up in Nov with broad-based growth 

The Canadian economy accelerated in November by the most in six months, with activity broad-based across a number of sectors including manufacturing and keeping the Bank of Canada on track to raise interest rates again before long. Gross domestic product rose by 0.4 percent from October's flat reading, Statistics Canada said on Wednesday, in line with economists' expectations and the biggest increase since May 2017. 

Globe and Mail: Economy firing 'on all cylinders’ as Canada sees best growth in six months 

Positive signs from a key Canadian economic indicator and an upbeat statement from the U.S. central bank injected a double-dose of optimism about the strength of the North American economy Wednesday – feeding expectations that further interest-rate increases are coming by spring, on both sides of the border. Statistics Canada reported that November real gross domestic product grew 0.4 per cent month over month, the biggest one-month increase since May. It was an impressive rebound from October's flat reading and partly reflected a strong recovery in the country's manufacturing sector, after the return of two major auto plants from October shutdowns. 

Canadian Real Estate Magazine: Canadian housing market still vulnerable says CMHC 

The Canadian housing market still has high levels of vulnerability according to the latest report from CMHC. The agency says that, for the 6th consecutive quarter, there is evidence of overvaluation and price acceleration, despite improvement in some metros.The Housing Market Assessment published Tuesday highlights the risk of overvaluation and price acceleration in Toronto, Hamilton, Vancouver and Victoria. 

Toronto Star: Toronto at risk of overvaluation despite slowed price growth 

The Canada Mortgage and Housing Corporation (CMHC) released its Housing Market Assessment (HMA), announcing Canada’s housing markets as highly vulnerable for the sixth consecutive quarter, mostly due to strong evidence of overvaluation and price acceleration. The HMA is supposed to serve as an “early warning system,” but the markets have been highly vulnerable for half a year now. There’s been major policy changes in the hottest markets, Toronto and Vancouver, including mortgage stress tests, rent control, and foreign buyer taxes, but the risk status hasn’t changed. What does this say about the way the government is intervening?


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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