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The Latest in Mortgage News: Housing Affordability Reaches Worst Level in 31 Years

The Latest in Mortgage News: Housing Affordability Reaches Worst Level in 31 Years

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The Latest in Mortgage News: Housing Affordability Reaches Worst Level in 31 Years
The Latest in Mortgage News: Housing Affordability Reaches Worst Level in 31 Years
The Latest in Mortgage News: Housing Affordability Reaches Worst Level in 31 Years
The Latest in Mortgage News: Housing Affordability Reaches Worst Level in 31 Years
Canadian Mortgage Trends Canadian Mortgage Tr... | 2 years ago
Housing affordability in Canada has deteriorated to its worst level in 31 years, according to RBC Economics.
Housing affordability in Canada has deteriorated to its worst level in 31 years, according to RBC Economics.
The Latest in Mortgage News: BoC's Affordability Index reaches worst level since 1991 - Mortgage Rat...
The Latest in Mortgage News: BoC's Affordability Index reaches worst level since 1991 - Mortgage Rat...
The Latest in Mortgage News: BoC's Affordability Index reaches worst level since 1991 - Mortgage Rat...
The Latest in Mortgage News: BoC's Affordability Index reaches worst level since 1991 - Mortgage Rat...
Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago
Housing affordability deteriorated to its worst level in over 30 years, according to data from the Bank of Canada. The BoC released the first-quarter results of its Housing Affordability Index (HAI) this past week, which rose sharply compared to the previous quarter. The data shows a household must now devote 42.8% of its disposable income to housing-related expenses. Thatโ€™s up from 39.7% in Q4 2021 and 34.7% a year earlier. The Index measures the share of income needed for housing costs su...
Housing affordability deteriorated to its worst level in over 30 years, according to data from the Bank of Canada. The BoC released the first-quarter results of its Housing Affordability Index (HAI) this past week, which rose sharply compared to the previous quarter. The data shows a household must now devote 42.8% of its disposable income to housing-related expenses. Thatโ€™s up from 39.7% in Q4 2021 and 34.7% a year earlier. The Index measures the share of income needed for housing costs su...
Housing affordability had its worst decline "in a generation" - Mortgage Rates & Mortgage Broker New...
Housing affordability had its worst decline "in a generation" - Mortgage Rates & Mortgage Broker New...
Housing affordability had its worst decline "in a generation" - Mortgage Rates & Mortgage Broker New...
Housing affordability had its worst decline "in a generation" - Mortgage Rates & Mortgage Broker New...
Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago
The first quarter marked the fifth consecutive deterioration in housing affordability, and the worst drop yet, according to National Bank of Canada. โ€œOver the last 12 months, the worsening in affordability was the nastiest in 40 years,โ€ NBC economists noted in the bankโ€™s quarterly Housing Affordability Monitor. The report tracks housing affordability in 10 major census metro areas by measuring the average down payment amount required for an average purchase and the monthly mortgage payme...
The first quarter marked the fifth consecutive deterioration in housing affordability, and the worst drop yet, according to National Bank of Canada. โ€œOver the last 12 months, the worsening in affordability was the nastiest in 40 years,โ€ NBC economists noted in the bankโ€™s quarterly Housing Affordability Monitor. The report tracks housing affordability in 10 major census metro areas by measuring the average down payment amount required for an average purchase and the monthly mortgage payme...
Mortgage demand reaches lowest level in two decades
Mortgage demand reaches lowest level in two decades
Mortgage demand reaches lowest level in two decades
Mortgage demand reaches lowest level in two decades
housingwire housingwire | 1 year ago
Borrowers' demand for mortgage loans decreased for the fourth consecutive week to the lowest level in more than two decades, according to the MBA. The post Mortgage demand reaches lowest level in two decades appeared first on HousingWire.
Borrowers' demand for mortgage loans decreased for the fourth consecutive week to the lowest level in more than two decades, according to the MBA. The post Mortgage demand reaches lowest level in two decades appeared first on HousingWire.
The Latest in Mortgage News: RBC downgrades its housing market forecast - Mortgage Rates & Mortgage ...
The Latest in Mortgage News: RBC downgrades its housing market forecast - Mortgage Rates & Mortgage ...
The Latest in Mortgage News: RBC downgrades its housing market forecast - Mortgage Rates & Mortgage ...
The Latest in Mortgage News: RBC downgrades its housing market forecast - Mortgage Rates & Mortgage ...
Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago
RBC says it expects the countryโ€™s housing correction to โ€œdeepenโ€ in the coming months with resale activity and prices falling more than expected. The bank now sees home resales falling nearly 23% this year and 15% next year, with the national benchmark price falling a total of 12% โ€œfrom peak to troughโ€ by the second quarter of 2023. โ€œThis would also rank as the steepest correction of the past five national downturns,โ€ wrote RBC economist Robert Hogue. โ€œWe expect local outcomes...
RBC says it expects the countryโ€™s housing correction to โ€œdeepenโ€ in the coming months with resale activity and prices falling more than expected. The bank now sees home resales falling nearly 23% this year and 15% next year, with the national benchmark price falling a total of 12% โ€œfrom peak to troughโ€ by the second quarter of 2023. โ€œThis would also rank as the steepest correction of the past five national downturns,โ€ wrote RBC economist Robert Hogue. โ€œWe expect local outcomes...
The latest in mortgage news: BoC rate hike expectations grow - Mortgage Rates & Mortgage Broker News...
The latest in mortgage news: BoC rate hike expectations grow - Mortgage Rates & Mortgage Broker News...
The latest in mortgage news: BoC rate hike expectations grow - Mortgage Rates & Mortgage Broker News...
The latest in mortgage news: BoC rate hike expectations grow - Mortgage Rates & Mortgage Broker News...
Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago
The Big 6 banks have raised their expectations for Bank of Canada rate hikes, with most expecting another 125 to 150 basis points in tightening by the end of the year.
The Big 6 banks have raised their expectations for Bank of Canada rate hikes, with most expecting another 125 to 150 basis points in tightening by the end of the year.
The Latest in Mortgage News: Borrowers Growing Worried Over Rate Hikes
The Latest in Mortgage News: Borrowers Growing Worried Over Rate Hikes
The Latest in Mortgage News: Borrowers Growing Worried Over Rate Hikes
The Latest in Mortgage News: Borrowers Growing Worried Over Rate Hikes
Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago
Rising interest rates are starting to weigh down Canadians' confidence in their finances, according to the latest results of the MNP Consumer Debt Index.
Rising interest rates are starting to weigh down Canadians' confidence in their finances, according to the latest results of the MNP Consumer Debt Index.
Mortgage delinquency rate reaches lowest level since 2019 Q4
Mortgage delinquency rate reaches lowest level since 2019 Q4
Mortgage delinquency rate reaches lowest level since 2019 Q4
Mortgage delinquency rate reaches lowest level since 2019 Q4
housingwire housingwire | 1 year ago
Some good news? Mortgage Bankers Association says fewer people are delinquent on their mortgage payments. The post Mortgage delinquency rate reaches lowest level since 2019 Q4 appeared first on HousingWire.
Some good news? Mortgage Bankers Association says fewer people are delinquent on their mortgage payments. The post Mortgage delinquency rate reaches lowest level since 2019 Q4 appeared first on HousingWire.
The Latest in Mortgage News: GTA Home Prices Down 22% from February
The Latest in Mortgage News: GTA Home Prices Down 22% from February
The Latest in Mortgage News: GTA Home Prices Down 22% from February
The Latest in Mortgage News: GTA Home Prices Down 22% from February
Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago
Early April housing data indicates prices for certain housing segments in the Greater Toronto Area are down from their February peak by as much as 22%.
Early April housing data indicates prices for certain housing segments in the Greater Toronto Area are down from their February peak by as much as 22%.
The latest in mortgage news: OSFI has no plans to loosen the stress test - Mortgage Rates & Mortgage...
The latest in mortgage news: OSFI has no plans to loosen the stress test - Mortgage Rates & Mortgage...
The latest in mortgage news: OSFI has no plans to loosen the stress test - Mortgage Rates & Mortgage...
The latest in mortgage news: OSFI has no plans to loosen the stress test - Mortgage Rates & Mortgage...
Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago
Despite todayโ€™s mortgage borrowers having to qualify at rates in excess of 6% and 7%, Canadaโ€™s banking regulator said no changes to the stress test are imminent. In a speech last week, the head of the Office of the Superintendent of Financial Institutions (OSFI), Peter Routledge, threw cold water on the prospect of the regulator making any tweaks to its stress test for uninsured mortgages, or those with down payments of 20% or more. โ€œThe uncertainty and anxiety caused by a rising interes...
Despite todayโ€™s mortgage borrowers having to qualify at rates in excess of 6% and 7%, Canadaโ€™s banking regulator said no changes to the stress test are imminent. In a speech last week, the head of the Office of the Superintendent of Financial Institutions (OSFI), Peter Routledge, threw cold water on the prospect of the regulator making any tweaks to its stress test for uninsured mortgages, or those with down payments of 20% or more. โ€œThe uncertainty and anxiety caused by a rising interes...