Weights & measures
Filed Under Main Content · Tagged: Amp, Bank Financial Group, Banks, Economist, Economy, Harmonized Sales Tax, House Price, House Prices, Housing Market, July 1, Low Mortgage, Mortgage Rates, National Bank, Pinsonneault, Price Index, Sales Tax, Strategy Group, Teranet, Toronto Housing, Weights Measures
Financial Post-The days of exceptionally low mortgage rates are coming to an end as a number of banks announced higher fixed rates this week.
However, the higher rates may not immediately slow the Toronto housing market.
"I think that higher rates will be somewhat balanced by the fact that, in Toronto, people might rush into the market in order to beat the introduction of the harmonized sales tax [July 1]," says Marc Pinsonneault, senior economist, economy and strategy group, National Bank Financial Group.
Certainly, rising prices had not slowed the rush of buyers to the market in the early part of the year. This week’s Teranet-National Bank National House Price Index, which traces resale numbers, showed a 0.7% increase in house prices in Toronto in January, compared with the previous month. The year-over-year rise was 9.4%…
CIBC, National join list of banks raising rates
Filed Under Main Content · Tagged: Basis Point Increase, Basis Points, Canadian Banks, Cibc Bank, Fixed Rate Mortgage, List Of Banks, Match, Mortgage Rates, National Bank, National Banks, Variable Rate Mortgages, Year Fixed Mortgage, Year Fixed Rate Mortgage
Financial Post- CIBC and National Bank announced Tuesday that they are raising some of their mortgage rates, following announcements the previous day from three other Canadian banks that their home-lending charges were increasing.
In a statement Tuesday, CIBC said it would raise its rate on the benchmark five-year fixed rate mortgage by 60 basis points to 5.85%. It also announced 20 basis point increase to its three-year fixed-rate mortgage, bringing it to 4.35%, as well as a 40 basis point increase to its four-year fixed mortgage, bringing it to 5.34%. The CIBC changes take effect Wednesday.
CIBC’s variable rate mortgages remain unchanged.
Meanwhile, National Bank, after lowering its five- and four-year fixed rates earlier this month, announced Tuesday that it would raise those rates to match the other banks’ increases. Its three-year fixed-rate mortgage will also rise 20 basis points to 4.35%…
CIBC, National join list of banks raising rates
Resale home prices rise for seventh straight month
Filed Under Main Content · Tagged: Calgary, Composite Index, Halifax, House Price, Metropolitan Markets, Montreal, National Bank, Ottawa, Price Changes, Price Index, Repeat Sales, Resale Home, Resale Prices, Rose, Single Family, Teranet, Toronto, Vancouver
Financial Post- Canadian home resale prices rose for a seventh straight month in November on gains in all six major metropolitan markets surveyed, a report released on Wednesday says.
The Teranet-National Bank composite house price index, which measures price changes for repeat sales of single-family homes, showed overall prices were up 0.8% in November from October.
Vancouver led the gains, rising 1.9%, the only market to exceed the national average. Without Vancouver, the composite index would have been up 0.5%, the report said. Toronto and Calgary both recorded gains of 0.6% in November, followed by 0.4% increases in each of Halifax and Ottawa. Montreal posted the smallest rise, up 0.1%…
Resale home prices rise for seventh straight month
Home prices see first annual rise in 10 months
Filed Under Main Content · Tagged: 10 Months, House Price, Lows, National Bank, Price Index, Real Estate Market, Resale Homes, Resale Prices, S Real Estate, Teranet, Vancouver Sun
Vancouver Sun- Resale prices for Canadian homes rose for a sixth consecutive month in October — and were up on an annual basis for the first time in nearly a year — as the country’s real estate market continued to recover from recessionary lows, according to a report released Wednesday.
The Teranet-National Bank resale house price index of major markets increased 1.27% during the month from September. Year-over-year, prices were up 0.57% — marking the first rise in 10 months…
