CMHC

The federal government will allow 30-year amortization periods on insured mortgages for first-time homebuyers purchasing newly built homes. Finance Minister Chrystia Freeland made the announcement in Toronto today, saying it would take effect Aug. 1.  The Canadian Home Builders’ Association has advocated for longer amortization periods, saying five more years would help with affordability and […]

The Canadian Real Estate Association says February home sales jumped 19.7 per cent compared with a year ago. The association says the increase in part reflected weakness last year, as the result for February 2023 was one of the lowest for the month in the past two decades. On a month-over-month basis, CREA says seasonally […]

After a year marked by caution and shifting expectations spurred by rising borrowing costs, economists believe the Canadian housing market could be in for a rebound in 2024. That’s largely dependent on forecasts that the Bank of Canada could begin cutting its key interest rate from the current level of five per cent as early […]

Canada Mortgage and Housing Corp. says the annual pace of housing starts for October ticked up from September. The national housing agency says the seasonally adjusted annual rate of housing starts in October came in at 274,681, up one per cent from 270,669 in September. The increase came as the pace of urban housing starts […]

In a collaborative effort, the Peepeekisis First Nation has joined forces with Steel River Group to embark on a project aimed at constructing nine new affordable houses within the reserve. The primary focus of this initiative is to prioritize the most vulnerable members of the community, ensuring their well-being and support. Among the upcoming housing […]

The Bank of Canada announced today that it will continue to hold its key interest rate steady at 4.5 per cent, as was widely anticipated by economists. The central bank says recent data is reinforcing its confidence that inflation will continue to fall in the coming months. Canada’s annual inflation rate fell to 5.2 per […]

The pace of house sales continues to slow in Saskatchewan. According to the Saskatchewan Realtors Association, there were 854 sales across the province in the month of February. That’s down 19 percent compared to February of last year. “We continue to see higher lending rates and supply challenges contribute to a pullback in sales,” said […]

The City of Regina is receiving over $7-million in funding from the federal government to help provide housing for the city’s homeless. The $7.8-million, in addition to $1-million allocated by the City, will create 29 new affordable homes through the City’s Rapid Housing Initiative (RIH). Minister Responsible for the Canada Mortgage and Housing Corporation (CMHC) […]