OREA In the News

CBC: More protection proposed for investors in beefed-up syndicated mortgage rules 

Canadian securities regulators want to change the rules that govern the selling of controversial syndicated mortgages in order to better protect investors. In a syndicated mortgage, a borrower will seek out a group of two or more private lenders to invest money in a property, instead of going to the bank. 

  

Toronto Star: Toronto condo construction strong as buyers seek affordability 

The Canada Mortgage and Housing Corporation (CMHC) released its housing starts report for February 2018, announcing that new home construction has held steady compared to the previous month. On a national level, housing starts trended at 225,276 units, compared to 224,572 in January. The trend is a six month moving average of seasonally adjusted annual rates (SAAR). “The national trend in housing starts has been very stable since November 2017, masking offsetting trends for multi-unit and single-detached dwellings,” says Bob Dugan, CMHC’s chief economist. “Multi-unit starts have trended higher in recent months in most major urban centres while single-detached starts have trended lower.” 

 

 

Mortgage Broker News: National housing starts hold steady in February 

New data from the Canada Mortgage and Housing Corporation (CMHC) showed that the 6-month moving average in housing starts’ seasonally adjusted annual rates was at 225,276 units last month, compared to 224,572 units in January 2018. “The national trend in housing starts has been very stable since November 2017, masking offsetting trends for multi-unit and single-detached dwellings,” CMHC chief economist Bob Dugan said. “Multi-unit starts have trended higher in recent months in most major urban centres while single-detached starts have trended lower.” 

 

Better Dwelling: Canadian Real Estate Debt Passed 76% Of GDP, Here’s The New Problem We Have 

Canadian real estate buying may be slowing down, but the long-term problems are just starting to brew. Numbers from the Bank of Canada (BoC) show that mortgage debt is ballooning as interest rates make minor upticks. Mortgage debt is now at the highest ratio compared to the economy it has ever been. Even though the debt service ratios are manageable, it’s created a complex problem that almost certainly won’t be a happy ending. 

 

Globe and Mail: New rules stem Chinese real estate investment 

China's restrictions on foreign real estate purchases sharply slowed Chinese investment in Canadian offices, hotels and other large properties late last year - even before Beijing's dramatic seizure of Anbang Insurance Group, whose buying spree had driven up prices. Since the Chinese government unveiled new rules in August to keep capital in the country, Chinese appetite for big property acquisitions has waned noticeably and the size of deals has shrunk, say deal makers in the sector. 


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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