Three Real Estate Stories in the News for Friday, January 5th, 2018
Reverse Mortgage Debt On Canadian Real Estate Is Rising $1.25 Per Second
Canadians short on retirement funds may be turning to using their home equity. Numbers from Office of the Superintendent of Financial Institutions show that reverse mortgages experienced huge double digit growth in October 2017. That’s good news for reverse mortgage lenders, but bad news for a country increasingly addicted to debt. Check here for more details.
New stress test to affect higher-end of real estate market
Prospective home buyers have a new hurdle to clear in the form of a "stress test" for uninsured mortgages but a local mortgage broker is predicting it will only slow the sales of higher-end homes. Check here for more details.
2018 home sales in B.C. expected to decline, but prices climb, economists say
An upward trend in housing prices isn’t expected to significantly change in British Columbia despite an anticipated slowdown in sales this year, economists say. Check here for more details.
Picture: Evelyn Paris
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Jethro Seymour, Toronto Real Estate Broker. Search Toronto's live MLS listing here.