Article content
And life in a small town has never looked better. Or more expensive.
We apologize, but this video has failed to load.
Try refreshing your browser, or Real estate market continues to soar Back to video
March sales, as reported by the Canadian Real Estate Association (CREA), have set another all-time high record, with the national average sale price showing a 31.6% gain, year over year.
About 76,000 residences changed hands in March across Canada, the highest level of any month in history. That’s 14,000 more than the record set last July.
The biggest year-over-year gains are in Ontario, British Columbia, Quebec and New Brunswick.
Article content
The recent surge in home prices has a federal regulator reminding lenders to stay sharp, but it is also prompting concern that borrowers may be stretching themselves financially and, in some cases, stretching the truth when they apply for a mortgage.
One Canadian mortgage brokerage told the Financial Post it has recently uncovered a rash of suspicious employment letters submitted by individuals trying to obtain loans in the Greater Toronto Area.
We apologize, but this video has failed to load.
Try refreshing your browser, or Amid hot housing market, stretched borrowers may be stretching the truth to get loans Back to video
Jaqui Parchment
We are now in Month 14 of the coronavirus pandemic. For institutional investors like pension plans, this pandemic and its consequences highlight the reality of systemic risk: events like the ongoing pandemic can and do happen and pension plans need to get ready.
Because another systemic risk is at our doorstep: climate change. 2020 was one of the three warmest years on record, despite a cooling La Niña event, according to the World Meteorological Organization. The global average temperature was about 1.2° Celsius above the pre-industrial (1850-1900) level and the six years since 2015 have been the warmest on record, with 2011-2020 being the warmest decade on record, according to the WMO.
OSFI signals no plans to loosen bank buyback, dividend restrictions in near term bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Canada Regulator Eyes Tougher Mortgage Rules Amid Bubble Fears
Theophilos Argitis, Bloomberg News A For Sale sign in front of a home in the York neighborhood of Toronto, Ontario, Canada, on Thursday, March 11, 2021. The buying, selling and building of homes in Canada takes up a larger share of the economy than it does in any other developed country in the world, according to the Bank of International Settlements, and also soaks up a larger share of investment capital than in any of Canadaâs peers. Photographer: Cole Burston/Bloomberg , Bloomberg
(Bloomberg) Canadaâs bank regulator is proposing to tighten mortgage qualification rules to make it more difficult for home buyers to secure financing, a move aimed at easing financial stability risks stemming from a booming real estate market.