Nationally, new homebuilding needs to increase by at least 50 per cent through 2024 — or around 100,000 more housing starts on average annually in 2023 and next year — leading to the highest level of housing starts in history, according to a report released Monday by Desjardins Securities.
https://www.thestar.com/business/2023/02/15/we-have-to-wake-up-here-canada-must-build-record-number-of-new-homes-to-keep-pace-with-immigration-report-finds.html?s=35
https://www.thestar.com/business/2023/02/15/we-have-to-wake-up-here-canada-must-build-record-number-of-new-homes-to-keep-pace-with-immigration-report-finds.html?s=35
thestar.com
‘We have to wake up here’: Canada must build record number of new homes to keep pace with immigration, report finds
Nationally, new homebuilding needs a boost of at least 50 per cent through 2024, according to a recent Desjardins Securities report.
Canadian home sales declined by three per cent on a month-over-month basis to start the year to post their worst January since 2009, according to data from the Canadian Real Estate Association.
https://financialpost.com/real-estate/homes-sales-post-worst-january-since-2009-crea-figures-show
https://financialpost.com/real-estate/homes-sales-post-worst-january-since-2009-crea-figures-show
Financial Post
Canada's housing market just had the worst January since 2009
Canadian home sales declined by three per cent on a month-over-month basis to start the year to post their worst January since 2009, according to data from the Canadian Real Estate Association.
CMHC says annual rate of housing starts slowed 13 per cent in January
https://www.bnnbloomberg.ca/cmhc-says-annual-rate-of-housing-starts-slowed-13-per-cent-in-january-1.1884245
https://www.bnnbloomberg.ca/cmhc-says-annual-rate-of-housing-starts-slowed-13-per-cent-in-january-1.1884245
BNN
CMHC says annual rate of housing starts slowed 13 per cent in January
Canada Mortgage and Housing Corp. says the annual pace of housing starts fell 13 per cent in January.
"More Ontario Residents Turn to Private Mortgages as Mortgage Costs Soar"
Over the past year, the prime lending rate in Canada has soared from just under 2.5% early last year to 6.7%. The increase has sent mortgage interest costs rising 21.2% year over year in January, as per Statistics Canada.
https://ca.investing.com/news/economy/more-ontario-residents-turn-to-private-mortgages-as-mortgage-costs-soar-2915879
Over the past year, the prime lending rate in Canada has soared from just under 2.5% early last year to 6.7%. The increase has sent mortgage interest costs rising 21.2% year over year in January, as per Statistics Canada.
https://ca.investing.com/news/economy/more-ontario-residents-turn-to-private-mortgages-as-mortgage-costs-soar-2915879
Investing.com Canada
More Ontario Residents Turn to Private Mortgages as Mortgage Costs Soar By Investing.com
More Ontario Residents Turn to Private Mortgages as Mortgage Costs Soar
Statistics Canada said Tuesday its consumer price index in February was up 5.2 per cent compared with a year earlier.
https://www.theglobeandmail.com/business/economy/article-canada-inflation-rate-february-2023/
https://www.theglobeandmail.com/business/economy/article-canada-inflation-rate-february-2023/
The Globe and Mail
Canada’s inflation rate eases by most since early in the pandemic, but grocery costs still rising fast
Statistics Canada says the annual rate of inflation declined to 5.2 per cent in February from 5.9 per cent the month before
Several mortgage lenders and brokerages have started slashing fixed rate mortgages by as much as 40 basis points,
https://flip.it/BWXyZC
https://flip.it/BWXyZC
flip.it
Interest rates are unexpectedly dropping on five-year mortgages — and the global banking crisis is partly the cause
Experts says it might be time to lock in a pre-approval rate as a fall in the Canadian five-year bond yield is bringing down certain fixed mortgage rates.Canadian homebuyers are about to get an …
DEPOSIT STRUCTURES
Freehold Towns
$30,000 at Signing
$20,000 at 30 days
$20,000 at 60 days
$20,000 at 90 days
$20,000 at 120 days
$20,000 at 180 days
$20,000 at 210 days
Total Deposit: $150,000
Single Detached
$30,000 at Signing
$25,000 at 30 days
$25,000 at 60 days
$25,000 at 90 days
$25,000 at 120 days
$25,000 at 180 days
$25,000 at 210 days
Total Deposit: $180,000
A clean slate. A fresh start. A chance to create something beautiful. Mila by Madison is the place where inspiration begins. These homes, and the new school they surround, are the start of the rebirth of Midland & Lawrence. For the families who live here, Mila is their chance to be inspired – to start a new and better stage in their lives. For the surrounding area, Mila is a sign of progress, growth, and life.
Freehold Towns
$30,000 at Signing
$20,000 at 30 days
$20,000 at 60 days
$20,000 at 90 days
$20,000 at 120 days
$20,000 at 180 days
$20,000 at 210 days
Total Deposit: $150,000
Single Detached
$30,000 at Signing
$25,000 at 30 days
$25,000 at 60 days
$25,000 at 90 days
$25,000 at 120 days
$25,000 at 180 days
$25,000 at 210 days
Total Deposit: $180,000
A clean slate. A fresh start. A chance to create something beautiful. Mila by Madison is the place where inspiration begins. These homes, and the new school they surround, are the start of the rebirth of Midland & Lawrence. For the families who live here, Mila is their chance to be inspired – to start a new and better stage in their lives. For the surrounding area, Mila is a sign of progress, growth, and life.
Canada House Market
DEPOSIT STRUCTURES Freehold Towns $30,000 at Signing $20,000 at 30 days $20,000 at 60 days $20,000 at 90 days $20,000 at 120 days $20,000 at 180 days $20,000 at 210 days Total Deposit: $150,000 Single Detached $30,000 at Signing $25,000 at 30 days…
PROJECT DETAILS
Developer: Madison Group
Location: 2740 Lawrence Avenue East, Scarborough
Intersection: Midland Ave and Lawrence Ave East
Units: 65 Townhomes & 35 Single Detached Homes
Building Type: Townhouse and Single Detached Home
Unit Size: Townhomes from 1917-2023 sq.ft., Single Detached from 2036-2413 sq.ft.
MAIN HIGHLIGHTS
5 min walk to Lawrence East Station
10 min drive to Highway 401 and DVP
10 min walk to Thomson Memorial Park
15 min drive to Scarborough Town Centre
15 min drive to Scarborough Bluffs
Located within the area is the newly completed David and Mary Thomson Collegiate Institute
Developer: Madison Group
Location: 2740 Lawrence Avenue East, Scarborough
Intersection: Midland Ave and Lawrence Ave East
Units: 65 Townhomes & 35 Single Detached Homes
Building Type: Townhouse and Single Detached Home
Unit Size: Townhomes from 1917-2023 sq.ft., Single Detached from 2036-2413 sq.ft.
MAIN HIGHLIGHTS
5 min walk to Lawrence East Station
10 min drive to Highway 401 and DVP
10 min walk to Thomson Memorial Park
15 min drive to Scarborough Town Centre
15 min drive to Scarborough Bluffs
Located within the area is the newly completed David and Mary Thomson Collegiate Institute
Bank of Canada holds interest rate, but get ready for higher for longer
"We are encouraged that inflation is declining, and we are seized with the importance of staying the course and restoring price stability for Canadians.
Inflation is coming down quickly and is forecast to be around 3% this summer. The economy is expected to grow modestly even as inflation comes down. This is good news, but it is not job done."
https://financialpost.com/news/economy/bank-of-canada-holds-interest-rate-april-2023
"We are encouraged that inflation is declining, and we are seized with the importance of staying the course and restoring price stability for Canadians.
Inflation is coming down quickly and is forecast to be around 3% this summer. The economy is expected to grow modestly even as inflation comes down. This is good news, but it is not job done."
https://financialpost.com/news/economy/bank-of-canada-holds-interest-rate-april-2023
Financial Post
Bank of Canada holds interest rate, but get ready for higher for longer
The Bank of Canada left its benchmark interest rate unchanged at 4.5 per cent and released updated forecasts that suggest Canada will avoid a recession, although the economy’s unexpected strength — the result of pent-up demand for services and a surge in…
"Fed lifts rates by 0.25%, signals June pause amid shift to data-dependent stance"
https://ca.investing.com/news/economy/fed-lifts-rates-by-025-signals-june-pause-amid-shift-to-datadependent-stance-2981232
https://ca.investing.com/news/economy/fed-lifts-rates-by-025-signals-june-pause-amid-shift-to-datadependent-stance-2981232
Investing.com Canada
Fed lifts rates by 0.25%, signals June pause amid shift to data-dependent stance By Investing.com
Fed lifts rates by 0.25%, signals June pause amid shift to data-dependent stance
Toronto sales jumped by 27 per cent in April from March. New listings also rose but not enough, and demand-supply conditions are now as tight as they were before the correction
https://flip.it/UMFZg9
https://flip.it/UMFZg9
flip.it
Posthaste: Looks like Canada's housing market has finally turned the corner
Good Morning!The speed of Canada’s housing market correction last year surprised forecasters. Now its recovery is too.There had been signs that the market would hit its bottom this spring, but “April …
Bank of Canada hikes interest rate to 4.75%
The rise brings the policy rate to the highest it’s been since April 2001
https://financialpost.com/news/economy/bank-of-canada-hikes-interest-rate?utm_medium=Social
The rise brings the policy rate to the highest it’s been since April 2001
https://financialpost.com/news/economy/bank-of-canada-hikes-interest-rate?utm_medium=Social
Financial Post
Bank of Canada unexpectedly hikes rate to 4.75% — and economists see room for more
The Bank of Canada surprised markets by ending its pause and hiking its key interest rate a quarter percentage point to 4.75 per cent on June 7.
The annual inflation in the United States stood at 3.0% in June, the US Bureau of Labor Statistics
The U.S. central bank skipped raising rates in June. The Fed has hiked its policy rate by 500 basis points since March 2022, when it embarked on its fastest monetary policy tightening campaign in more than 40 years.
https://www.reuters.com/markets/us/us-consumer-prices-rise-modestly-june-core-inflation-slowing-2023-07-12/
https://www.reuters.com/markets/us/us-consumer-prices-rise-modestly-june-core-inflation-slowing-2023-07-12/
Reuters
US economy shifts into disinflation mode; consumer prices rise modestly
Consumer prices registered their smallest annual increase in more than two years.
Bank of Canada raises its key interest rate to 5%, the highest level in 22 years. Here’s what’s next - The Globe and Mail
https://www.theglobeandmail.com/business/article-bank-of-canada-interest-rate-live-july/
https://www.theglobeandmail.com/business/article-bank-of-canada-interest-rate-live-july/
The Globe and Mail
Bank of Canada raises its key interest rate to 5%, the highest level in 22 years. Here’s what’s next
At Wednesday’s news conference, Governor Tiff Macklem said he’s prepared to raise interest rates further to get inflation under control
Annual pace of housing starts in Canada surged in June to slightly reverse downward trend
https://www.theglobeandmail.com/business/economy/article-canadian-housing-starts-jump-41-in-june-in-largest-increase-in-10
https://www.theglobeandmail.com/business/economy/article-canadian-housing-starts-jump-41-in-june-in-largest-increase-in-10
The Globe and Mail
Annual pace of housing starts in Canada surged in June to slightly reverse downward trend
The CMHC says the seasonally adjusted annual rate of housing starts in Canada totalled 281,373 units in June, up from 200,018 in May
Canada’s inflation rate falls to 2.8%, lowest since early 2021
https://www.cbc.ca/news/business/canada-inflation-rate-june-1.6909635
https://www.cbc.ca/news/business/canada-inflation-rate-june-1.6909635
CBC
Canada's inflation rate falls to 2.8% | CBC News
Canada's inflation rate fell to 2.8 per cent in June, its lowest level in more than two years.
Big interest rate cuts ahead from the Bank of Canada if 2001 is any indication
https://financialpost.com/news/economy/big-bank-of-canada-interest-rate-cuts-ahead
https://financialpost.com/news/economy/big-bank-of-canada-interest-rate-cuts-ahead
Financial Post
Big interest rate cuts ahead from the Bank of Canada if 2001 is any indication
They say that actions speak louder than words, and this definitely applies when it comes to the Bank of Canada.