The five- and 10-year averages for price growth in newer downtown Toronto condos is 15% and 8%, respectively. GTA-wide, the 10-year average is also 8%.
The latest quarterly financial results from CMHC show continued improvement in the quality of its mortgage loan portfolio.
During the first half of 2018, the overall arrears rate decreased from 0.29% to 0.27% and the average homebuyer had a credit score of 754.
A typical homebuyer bought a home costing almost $271,000 with most choosing a 25-year amortization mortgage with 80% preferring a fixed rate loan.
CMHC provided mortgage insurance for nearly 107,000 homes in the first half of 2018 with 57,781 for homebuyers and 48,885 for rental units.
Its securitization programs provided lenders with nearly $75 billion in guarantees.
Its business activities generated revenues of $2.7 billion and a net income of $681 million through the first half of 2018 and at June 30, 2018, its overall insurance-in-force was $463 billion with $13.5 billion in capital available, representing 177% of the minimum regulatory capital required. Total guarantees-in-force were $479 billion with $2.5 billion in capital held, representing 143% of the minimum required.
Helping with housing needs CMHC also delivered nearly $1.5 billion to create and support much-needed housing units for low- and middle-income Canadians and continued to implement National Housing Strategy initiatives.
"We continued to implement initiatives under the National Housing Strategy while delivering results for Canadians and helping people from all across the country meet their housing needs," said Lisa Williams, Chief Financial Officer
News of a fixed rate increase might inspire consumers driven by fear of being priced out of the market in Canada.
Even before COVID-19 moved us all to work from home, reevaluations of office space were already underway, but not nearly to the extent they are now.
This consultant and real estate investor said that a third of new construction properties built every year in Ontario have legitimate claims for reimbursement, but they aren't taken advantage of.
New condos going up on King St. E. and Berkeley St. by Lamb Development Corp will be 32-storeys and the new Ontario Line subway route station.
Condominium sales in the City of Toronto surged by 63.2% year-over-year in February to 2,167, according to the latest data from the Toronto Regional Real Estate Board.
According to GTA-based Seth Ferguson, CEO of Multifamily Real Estate Investments Inc., Texas has arguably the most propitious horizon in the Sun Belt.
In 2020 alone, this commercial real estate team did over $60 million in commercial sales in Toronto.
Craig Proctor, top Canadian real estate agent and coach, offers advice on how to dominate during these crazy real estate times. Join his Millionaire Agent-Maker SuperConference March 19-21.
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