Economic Data Better Than Headline Figures Suggest

On a hot summer Friday morning, Canadian and U.S. data gatherers posted GDP figures.  The numbers look pretty bad and both countries, but fortunately, digging deeper, they were not as bad as at first glance. Canadian GDP Data The May figure for Canadian Gross Domestic Product by Industry posted a decline of 0.6 percent, but Read More The post Economic Data Better Than Headline Figures Suggest appeared first on Dominion Lending Centres.
https://dominionlending.ca/news/economic-data-better-headline-figures-suggest/

Acceptable Down Payment Sources

The level of documentation required for the average mortgage these days can be very frustrating. It can seem endless, very nitpicky and annoying because we are able to purchase a vehicle with just a paystub. There are a few reasons for the increased documentation requirements. The first is that the banks are mandated by the Read More The post Acceptable Down Payment Sources appeared first on Dominion Lending Centres.
https://dominionlending.ca/news/acceptable-payment-sources/

Ten Things In a Real Estate Transaction That Can Affect Your Mortgage

1. Cash back at closing, while not illegal they lender will usually reduce the mortgage by that amount. 2. Furniture included in the contract, lenders consider this to have a value and if it is zero then it needs to state that in writing. Better yet have the seller and buyer write it in a Read More The post Ten Things In a Real Estate Transaction That Can Affect Your Mortgage appeared first on Dominion Lending Centres.
https://dominionlending.ca/news/ten-things-real-estate-transaction-can-affect-mortgage/

Fed Postpones Rate Hike Again

To the surprise of no one, the Fed once again refrained from raising interest rates even though the U.S. economy has posted surprising strength in recent weeks. Following a very weak jobs report in May, the June figures showed a considerable bounce back. Retail sales and housing activity have also surprised on the high side. Read More The post Fed Postpones Rate Hike Again appeared first on Dominion Lending Centres.
https://dominionlending.ca/news/fed-postpones-rate-hike-2/

Wondering If You Can Save a Bit By Buying a Foreclosure?

Chances are, you’ve seen real estate listings that end with terms like, “as-is, where-is” or “court ordered sale” or even “offers subject to court approval” and wondered if the listing prices were real. Or even wondered if you should be looking at foreclosed properties in order to make or save a buck. My advice to Read More The post Wondering If You Can Save a Bit By Buying a Foreclosure? appeared first on Dominion Lending Centres.
https://dominionlending.ca/news/wondering-can-save-bit-buying-foreclosure/

Ontario looking 'very closely' at B.C. tax aimed at foreign homebuyers as Toronto house prices ...

Mark Blinch/The Canadian PressBMO chief economist Douglas Porter has urged the Ontario government to follow B.C.'s move, given that single
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Restrictions on Foreign Ownership of Real Estate

In a surprise move, British Columbia introduced a new 15 percent property transfer tax on foreign real estate buyers in Vancouver on Monday, action intended to calm soaring prices. The new tax would apply to buyers who are neither Canadian citizens, nor permanent residents. The definition of foreign buyer appears to include international students and Read More The post Restrictions on Foreign Ownership of Real Estate appeared first on Dominion Lending Centres.
https://dominionlending.ca/news/blog-posts/restrictions-foreign-ownership-real-estate/

BC Passes Foreign Home Buyer Tax

Our chief economist at Dominion Lending Centres breaks down the news, what it means and answer the question on most of our minds: will Ontario do the same due to the hot Toronto market?
https://dominionlending.ca/news/blog-posts/restrictions-foreign-ownership-real-estate/

Weekly Toronto Mortgage, Finance And Other News For Last Week!

How much of a new construction needs to be complete before developers in Toronto actually start building it? Find out in this week's Toronto mortgage news!
http://www.gtamortgagepros.com/toronto-mortgage-news-23-07-2016/

Comedian's Pokemon Go video on Toronto subway tracks angers TTC

A comedian who hopped on Toronto's subway tracks to make a video ... But Correia should have been worried, according to the Toronto Transit
http://redirect.viglink.com?u=https%3A%2F%2Fwww.google.com%2Furl%3Frct%3Dj%26sa%3Dt%26url%3Dhttp%3A%2F%2Fwww.theglobeandmail.com%2Fnews%2Ftoronto%2Fvideo-appears-to-show-man-playing-pokemon-go-on-toronto-subway-tracks%2Farticle31016280%2F%26ct%3Dga%26cd%3DCAIyHDQ1YzJjNzk0ZTBmYmQwNDA6Y29tOmVuOkNBOlI%26usg%3DAFQjCNGH_7ob7Y2CforyrTmsgd65nN6mcg&key=ddaed8f51db7bb1330a6f6de768a69b8

'They could've been killed': YouTube comedian filmed playing Pokemon Go on TTC subway tracks

... tracks at Union Station while playing Pokemon Go has resulted in an investigation by the Toronto Transit Commission, which could lead to charges.
http://redirect.viglink.com?u=https%3A%2F%2Fwww.google.com%2Furl%3Frct%3Dj%26sa%3Dt%26url%3Dhttp%3A%2F%2Fnews.nationalpost.com%2Ftoronto%2Fthey-couldve-been-killed-youtubers-film-themselves-playing-pokemon-go-on-ttc-subway-tracks%26ct%3Dga%26cd%3DCAIyHDQ1YzJjNzk0ZTBmYmQwNDA6Y29tOmVuOkNBOlI%26usg%3DAFQjCNFBCHMkWWsbusW4jLp0cxHz0ymA5w&key=ddaed8f51db7bb1330a6f6de768a69b8

Genius On Toronto Subway Tracks Could Be Charged For Pokemon Video

The Toronto Transit Commission says it is investigating after a video about Pokemon Go showed footage of someone walking on subway train tracks.
http://redirect.viglink.com?u=https%3A%2F%2Fwww.google.com%2Furl%3Frct%3Dj%26sa%3Dt%26url%3Dhttp%3A%2F%2Fwww.huffingtonpost.ca%2F2016%2F07%2F20%2Fttc-subway-pokemon-go-video-tracks-noodle-boys-mark-correia_n_11087630.html%26ct%3Dga%26cd%3DCAIyHDQ1YzJjNzk0ZTBmYmQwNDA6Y29tOmVuOkNBOlI%26usg%3DAFQjCNFhgMwnYFi2mAvKs_4e3qs71l7t7w&key=ddaed8f51db7bb1330a6f6de768a69b8

Man appears to walk on subway tracks playing Pokemon Go, angers Toronto transit

TORONTO -- A comedian who hopped on Toronto's subway tracks to make a video "warning" of Pokemon Go dangers is now on the receiving end of a
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Toronto mortgage, finance and other news for the week ending 17th July

It's Toronto vs Vancouver time - but not in the world of sports, comparing their housing markets. In addition to this, we look at rental properties in the Toronto Condo market and the Toronto Blue Jays make long-term signing.
http://www.gtamortgagepros.com/toronto-mortgage-finance-news-16-07-2016/

Eglinton LRT route spurs development of two-tower condo plan

Situated near the Ontario Science Centre at Don Mills Road and Eglinton Avenue, the first phase of Sonic will be completed on Ferrand Drive in 2019
http://www.theglobeandmail.com/real-estate/toronto/eglinton-lrt-route-spurs-development-of-two-tower-condo-plan/article30903626/?cmpid=rss1

Hard loft in King West sells for $86,000 over asking

The playful marketing material for the unit had such widespread charm, there were 65 visitors and another 60 at the open house, plus unprecedented best and final offers from 21 bidders
http://www.theglobeandmail.com/real-estate/toronto/hard-loft-in-king-west-sells-for-86000-over-asking/article30901218/?cmpid=rss1

Demand fueling record housing starts in Vancouver and Toronto

The country’s scorching markets drive an increase in development, while the rest of the country sees projects slowing down
http://www.theglobeandmail.com/real-estate/toronto/demand-fueling-record-housing-starts-in-vancouver-and-toronto/article30901174/?cmpid=rss1

Pre-emptive bid snags estate in Lawrence Park

A catered open house for this three-storey house with a circular driveway reminded some buyers of the social affairs once hosted there by the Greek Archdiocese
http://www.theglobeandmail.com/real-estate/toronto/pre-emptive-bid-snags-estate-house-in-lawrence-park/article30901003/?cmpid=rss1

Dozens checks out modern house near Eglinton Park

This modern, detached residence was one of the only options for buyers looking to get their hands on a property near Eglinton Park this spring
http://www.theglobeandmail.com/real-estate/toronto/dozens-checks-out-modern-house-near-eglinton-park/article30900959/?cmpid=rss1

Rare opening at exclusive Bloor Street condo draws interest

Across from the Royal Ontario Museum, it can take a year for a vacancy to open up at Museum House and months to get matched with an affluent buyer
http://www.theglobeandmail.com/real-estate/toronto/rare-opening-at-exclusive-bloor-street-condo-draws-interest/article30900869/?cmpid=rss1

The dynamic interiors of Toronto’s modern Modernism

Modernism is gaining hold in Toronto again, but often only on the outside
http://www.theglobeandmail.com/real-estate/toronto/the-dynamic-interiors-of-torontos-modern-modernism/article30900405/?cmpid=rss1

Home of the Week: $65-million lakeside mansion replicates Jacobean architecture on Oakville’s ‘Gold Coast’

Former CEO of Interbrew Hugo Powell models retirement home on an old English manor only to see it become an empty nest
http://www.theglobeandmail.com/real-estate/toronto/timeless-taste-beer-money-a-65-million-mansion-for-the-ages/article30899711/?cmpid=rss1

Home of the Week: Lakeside mansion replicates Jacobean architecture on Oakville’s ‘Gold Coast’

Former CEO of Interbrew Hugo Powell models retirement home on an old English manor only to see it become an empty nest
http://www.theglobeandmail.com/real-estate/toronto/timeless-taste-beer-money-a-65-million-mansion-for-the-ages/article30899711/?cmpid=rss1

Toronto Real Estate Board increases efforts to overturn tribunal’s ruling

TREB says Competition Tribunal ruling over MLS access could violate privacy laws as well as the rights of buyers and sellers
http://www.theglobeandmail.com/real-estate/toronto/real-estate-board-to-appeal-competition-ruling-cites-privacy-concerns/article30849025/?cmpid=rss1

Real estate board to appeal competition ruling, cites privacy

Toronto Real Estate Board says Competition Tribunal ruling over MLS access could violate privacy laws as well as the rights of buyers and sellers
http://www.theglobeandmail.com/real-estate/toronto/real-estate-board-to-appeal-competition-ruling-cites-privacy-concerns/article30849025/?cmpid=rss1

Real estate board appealing competition ruling, cites privacy fears

Toronto Real Estate Board says Competition Tribunal ruling over MLS access could violate privacy laws as well as the rights of buyers and sellers
http://www.theglobeandmail.com/real-estate/toronto/real-estate-board-to-appeal-competition-ruling-cites-privacy-concerns/article30849025/?cmpid=rss1

How To Eat A Whale – Part 1

How do you eat a Whale? One bite at a time. And this is a whale of a topic: The recent comments and publicity of one Mr. Marc Cohedes. Rather than laying out a multi-thousand word post addressing the variety of factual errors and questionable motivations of both Mr. Cohedes and those in the media Read More The post How To Eat A Whale – Part 1 appeared first on Dominion Lending Centres.
https://dominionlending.ca/news/how-to-eat-a-whale-part-1/

Toronto mortgage, finance and other news - 10-07-2016

Toronto housing market affordability and the Canada Post strike are the top stories in this weeks Toronto mortgage, finance and other news.
http://www.gtamortgagepros.com/toronto-mortgage-finance-news-10-07-2016/

Toronto buyers skipping home inspections

How about if the selling real estate agent doesn't provide a home inspection report they lose their license? Surely not getting a home inspection is negligence for a Realtor?
http://snip.ly/ndwvw

Toronto house prices up a whopping 16.8% in June

House prices in Toronto continue to surge as would-be buyers struggle with a lack of supply in a red-hot real estate market, according to a new report from the Toronto Real Estate Board.
http://snip.ly/d8za7

Bully bid for Little Italy semi avoids a price war

It was past 10 p.m. when an agent showed up at the door of Timothy and Allison Shepstone’s home with a huge offer
http://www.theglobeandmail.com/real-estate/toronto/bully-bid-for-little-italy-semi-avoids-a-price-war/article30767016/?cmpid=rss1

Rare modern house in Little Italy attracts early bidder

In late May, Little Italy house hunters had several homes to choose from but none with as modern a cast as this semi-detached house near Bickford Park
http://www.theglobeandmail.com/real-estate/toronto/rare-modern-house-in-little-italy-attracts-early-bidder/article30766698/?cmpid=rss1

Leslieville semi sells for $211,000 over asking

About five years ago, this 1,351-square-foot structure was renovated with more modern form and finishes but kept some early 20th-century details
http://www.theglobeandmail.com/real-estate/toronto/leslieville-semi-sells-for-211000-over-asking/article30766680/?cmpid=rss1

Large penthouse unit sits on the edge of High Park

This three-bedroom penthouse at Gothic Heritage Estates racked up about 10 showings earlier this year
http://www.theglobeandmail.com/real-estate/toronto/large-penthouse-unit-sits-on-the-edge-of-high-park/article30766634/?cmpid=rss1

Location key for large St. Lawrence area condo

With 2,276 square feet of living space, some visitors to this St. Lawrence Market penthouse were disappointed that there was only one bedroom
http://www.theglobeandmail.com/real-estate/toronto/location-key-for-large-st-lawrence-area-condo/article30766605/?cmpid=rss1

Riverdale townhouse sells for $136,000 over asking

Riverdale properties staged and in good shape often sell for more than the list price, so hopes were high for this 2 1/2-storey townhouse
http://www.theglobeandmail.com/real-estate/toronto/riverdale-townhouse-sells-for-136000-over-asking/article30766580/?cmpid=rss1

Home of the Week: Hamilton tycoon’s mansion hits the market

This grand mansion sits below Hamilton Mountain, with the Bruce Trail winding along the face of the cliff just above
http://www.theglobeandmail.com/real-estate/toronto/home-of-the-week-hamilton-tycoons-mansion-hits-the-market/article30766569/?cmpid=rss1

Toronto housing costs still rising as number of listings falls

Prices for detached and semi-detached houses rose about 20 per cent in June from a year earlier, city’s real estate board says, though one analyst says
http://www.theglobeandmail.com/real-estate/toronto/toronto-housing-costs-still-rising-as-number-of-listings-falls/article30770946/?cmpid=rss1

Is the GTA housing market boom spreading all the way to Hamilton?

New figures show that Hamilton's housing market is heating up
http://snip.ly/ly8v5

How Brexit could impact the Toronto housing market

The Financial Post offers their view on how Brexit could impact the Toronto housing market.
http://snip.ly/1e15s

What Are Canadian’s Doing About Mortgage Debt?

In December, Mortgage Professionals Canada released its annual state of the housing market report and found that in 2015, 36% of homeowners took actions to reduce their mortgage debt. While many homeowners think in terms of lump-sum payments, which are a great option, there are other ways to save money and pay down that debt Read More The post What Are Canadian’s Doing About Mortgage Debt? appeared first on Dominion Lending Centres.
https://dominionlending.ca/news/what-are-canadians-doing-about-mortgage-debt/

Weekly Toronto Mortgage And Other News Update

Is there a housing bubble in Canada? This continues to be in the news this week. A new first-time buyer initiative was also launched this week. Find out more in our weekly update.
http://www.gtamortgagepros.com/toronto-mortgage-finance-news-02-07-2016/

CBC Article On Finding The Best Mortgage Deal

CBC News spoke to mortgage experts to find out how to score the best mortgage possible. You could wind up saving thousands of dollars while avoiding some serious pitfalls.
http://snip.ly/2674i

GTA Mortgage Pros - Dominion Lending Centres Edge Financial

Our profile for GTA Mortgage Pros on Credit Sesame
http://www.creditsesame.com/blog/author/michaels/

Mortgage Professionals Canada says there's no evidence of housing bubble - Business - CBC News

Mortgage Professionals Canada issues their opinion on the recent* talk about a housing bubble. * I use the word 'recent' loosely - talk of a housing bubble has probably been going on for about 5 years!
http://www.cbc.ca/news/business/mortgage-housing-bubble-1.3657598

Key Points from MPC’s Spring Report

Mortgage Professionals Canada released its spring report on mortgages and housing this week. More so than in previous reports, this one was opinion-heavy on the overall affordability and sustainability of housing. MPC s Chief Economist Will Dunning has long held that mortgage rule tightening could trip up the economy, noting that …the greatest risk to the housing market (and consequently to the broader economy) is not reckless consumers or lenders – it is needless policy changes. That position has been well covered by the media so we won t belabour it here. Instead, here are four other quotes that deserve attention — this author s feedback is in italics. ******** Our review of housing market READ MORE
http://www.canadianmortgagetrends.com/canadian_mortgage_trends/2016/06/mortgage-changes-reviewed.html