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Index Retreated 1% in October

In October the Teranet–National Bank National Composite House Price Index™ was down 1.0% from the previous month, a second consecutive monthly decline and the largest since September 2010. The retreat was due to a 2.8% drop of the index for the Toronto market, the country’s largest. Indexes were also down on the month for five other metropolitan areas of the Continue Reading

New Canadian Mortgage Stress Test Rules Announced for 2018

New Canadian mortgage rules could make qualifying for a mortgage more difficult. On October 17, 2017, the Office of the Superintendent of Financial Institutions (OSFI) announced new Canadian mortgage rules, to be put into effect on January 1, 2018. The new regulation requires a mortgage stress test, assessing whether borrowers can withstand higher interest rates. The changes being implemented are: 1. Continue Reading

Canadian Economic Growth in 2017: Does That Mean Rates are Going Up?

Canadian economic growth in 2017 went up more than analysts predicted in the past quarter. And, as everyone knows from Economics 101, economic growth is the main lever that elevates and lowers inflation, which in turn dictates mortgage rates. Between January and March 2017, Canada’s GDP expanded by 3.7 percent according to Statistics Canada. That’s at a rate of expansion Continue Reading

Inaugural Teranet Market Insights Report Gives Sneak Peek into Ontario’s Market Share Data

Lenders will love our new Teranet Market Insights report, which features insights into Canada’s housing market. In this inaugural edition, we dive deep into Ontario price and volume dynamics and changes in the Ontario mortgage market over the past three years. Accurate, in-depth, and timely — you’ll want to keep this report bookmarked to return to over and over again. Continue Reading

Are Changes to High-Ratio Mortgage Rules Too Tough for Homebuyers?

Changes to the rules for a high-ratio mortgage may make it tougher for some first-time homebuyers to get one at all. The regulations are meant to ensure everyone who gets one can afford their mortgage should rates increase in the near future. The housing market in Canada continues to sizzle – but are first-time homebuyers financially able to pay for Continue Reading

Potential Purview® Service Disruption

Potential Purview® Service Disruption: Purview® users may experience service disruptions when retrieving Parcel Registers or Instrument Images on the weekend, during the following period: October 14, 2017 at 6 p.m. to October 15, 2017 at 2 a.m. We apologize for any inconvenience this may cause. Have any questions? Call 1.855.787.8439 or email purview@teranet.ca.

The Teranet-National Bank House Price Index™ Retreats by 0.8% in September

In September the Teranet–National Bank National Composite House Price Index™ was down 0.8% from the previous month, the largest monthly decline since September 2010 and the first of any size since January 2016. The retreat was due to a 2.7% drop of the index for the Toronto market, the country’s largest. Indexes for four other metropolitan areas of the composite Continue Reading

New Mortgage Rules: What the Experts are Saying

Last October, and again in early 2017, both the federal and Ontario provincial government introduced new mortgage rules to calm Canada’s hot housing market and make sure borrowers can actually afford their mortgages. What impact – if any – have the new mortgage rules had on housing prices? As far as last October is concerned, according to an article published Continue Reading

Smaller Lenders Can Now Deploy the Same Tools that Banks Have Been Using for Years

Over the last few years, major institutional lenders have become accustomed to relying on technology and conducting more digital-type deals. With major firms, this technology is easy to adopt and cost-effective. However, some smaller institutions have found that implementing such technology has been budget prohibitive when looking at development costs. However, implementing technology that has traditionally been used only by Continue Reading