Here’s a summary of the latest mortgage and housing news across Canada for Monday, August 19, 2024:
- CMHC: Housing Starts in July Increased by 16% from June
- The Canada Mortgage and Housing Corporation (CMHC) reported a significant 16% rise in the annual pace of housing starts in July compared to June, indicating a boost in residential construction activity.
- CTV News
- Debate on Canada’s Mortgage Stress Test
- Experts are weighing in on whether Canada should eliminate the mortgage stress test, which has been a key factor in controlling housing market risks but is also seen as a barrier to homeownership for some buyers.
- Global News
- Thunder Bay’s Reputation for Affordability Drives Housing Demand
- Thunder Bay’s reputation for affordability is attracting more homebuyers, according to local real estate agents, contributing to increased demand in the region.
- CBC News
- Alberta’s Record Year for Housing Starts Amid Persistent Demand
- Alberta may be on track for a record year in housing starts, but the province still faces challenges in meeting the high demand for housing.
- CBC News
- Nationwide Housing Market Slowdown in July
- Despite gains from June’s interest rate cut, the Canadian housing market experienced a slowdown in July, with reduced activity nationwide.
- Real Estate Magazine
- Rise of Co-Ownership Among Young Canadians
- Co-ownership is becoming a popular trend among young Canadians as they seek more affordable ways to enter the housing market, reshaping the traditional concept of homeownership.
- Real Estate Magazine
- London Real Estate: Potential Shift to a Buyer’s Market
- London, Ontario, is showing signs of becoming a buyer’s market as the local real estate landscape evolves, potentially providing more opportunities for prospective homebuyers.
- London Free Press
- Slight Increase in Real Estate Prices Across Ontario
- July saw a modest rise in real estate prices across Ontario, indicating stability in the market despite broader economic uncertainties.
- Soo Today
- Canadian Real Estate Stable, But Toronto Condos Are an Exception
- The overall Canadian real estate market remains stable, but Toronto’s condo market is facing unique challenges, with prices and demand fluctuating more than in other segments.
- Better Dwelling
- Pause in Canadian Housing Market Momentum in July
- After a period of growth, the Canadian housing market saw a pause in momentum in July, reflecting a complex interplay of factors influencing buyer behavior.
- Muskoka 411
This summary provides a snapshot of the key housing and mortgage trends across Canada as of August 19, 2024.
