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Hose down Toronto and Vancouver housing markets, OECD urges
The Globe and Mail
Last updated
“This would damp residential investment and private consumption, and could threaten financial stability.”...
Scotiabank curbs mortgages in Vancouver, Toronto as prices soar: ‘We’re a little concerned’
Bloomberg News | June 1, 2016 2:26 PM ET
Hot housing markets in Vancouver and Toronto prompted Bank of Nova Scotia to ease off on mortgage lending in those cities, Chief Executive Officer Brian Porter said.
“We’re a little concerned about housing prices in the greater Vancouver area and Toronto,” Porter, 58, said Tuesday in an interview on Bloomberg TV Canada. “We just took our foot off the gas the last couple quarters in terms of mortgage growth for the reasons I cited, in terms of Vancouver and Toronto.”...
CMHC's exposure to housing market inches down to $520 billion
May 31, 2016 4:11 PM ET
CBC News
Canada's national housing agency says it managed to ratchet down its exposure to the country's mortgage market in the first quarter of the year.
The Canada Mortgage and Housing Corporation said Tuesday had $520 billion worth of mortgages on its books as of the end of March. That's a slight reduction from $526 billion at the end of 2015.
By law, the CMHC can't hold any more than $600 billion and last year the agency said it would take steps to reduce its exposure as it got near the threshold.
Anyone looking to buy a home in Canada with less than 20 per cent down must get CMHC insurance, which is paid for by the borrowers but pays out to the lender in case of default. All in all, the agency says 38.1 per cent of all outstanding Canadian mortgages had CMHC insurance on them at the end of March...
Hose down Toronto and Vancouver housing markets, OECD urges
The Globe and Mail
Last updated
“This would damp residential investment and private consumption, and could threaten financial stability.”...
Scotiabank curbs mortgages in Vancouver, Toronto as prices soar: ‘We’re a little concerned’
Bloomberg News | June 1, 2016 2:26 PM ET
Hot housing markets in Vancouver and Toronto prompted Bank of Nova Scotia to ease off on mortgage lending in those cities, Chief Executive Officer Brian Porter said.
“We’re a little concerned about housing prices in the greater Vancouver area and Toronto,” Porter, 58, said Tuesday in an interview on Bloomberg TV Canada. “We just took our foot off the gas the last couple quarters in terms of mortgage growth for the reasons I cited, in terms of Vancouver and Toronto.”...
CMHC's exposure to housing market inches down to $520 billion
May 31, 2016 4:11 PM ET
CBC News
Canada's national housing agency says it managed to ratchet down its exposure to the country's mortgage market in the first quarter of the year.
The Canada Mortgage and Housing Corporation said Tuesday had $520 billion worth of mortgages on its books as of the end of March. That's a slight reduction from $526 billion at the end of 2015.
By law, the CMHC can't hold any more than $600 billion and last year the agency said it would take steps to reduce its exposure as it got near the threshold.
Anyone looking to buy a home in Canada with less than 20 per cent down must get CMHC insurance, which is paid for by the borrowers but pays out to the lender in case of default. All in all, the agency says 38.1 per cent of all outstanding Canadian mortgages had CMHC insurance on them at the end of March...
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