The threat of higher fixed term mortgage rates became a reality this morning as the Royal Bank and TD Canada Trust announced significant hikes. The Laurentain Bank followed suit and it’s believed that other major lenders will quickly fall in line.
Effective tomorrow, the posted rate for a five-year closed mortgage climbs by six-tenths of a [...]
The black line continued to climb developing what’s beginning to look like a fairly steep pitch as Saskatoon real estate agents reported ninety-four firm house and condominium sales to the local MLS. That figure represents an increase of fourteen homes compared against the previous week, and a gain of thirty properties compared to the same [...]
Lake Placid Developments CEO Michael Lobsinger appeared before Saskatoon City Council last night and made an appeal seeking resurrection of a deal his company had made with the city to purchase “Parcel Y” in Saskatoon’s Central Business District. Lake Placid had plans to build River Landing Village, an upscale hotel and condominium development. That deal [...]
Perhaps it’s the threat of higher interest rates just around the corner; maybe it’s marginal qualifiers eager to beat the mortgage rule changes coming soon. Regardless of the reason, Saskatoon real estate sales continued to gain some traction this week as local agents reported eighty single-family home and condo sales to the MLS, up from [...]
Premier Brad Wall announced today that government funding is being made available for both a public and catholic elementary school to be built in Saskatoon’s Willowgrove. The two schools will cooperate in a joint venture that has them sharing a building.
The Willowgrove area has grown rapidly and is particularly popular with young families so the [...]
The final quarter of 2009 saw softer sales and growing inventory “put a damper” on rising house prices in Saskatchewan, according to RBC’s March 2010 Housing Trends and Affordability Study. While housing affordability “eroded mildly” on a national level, Saskatchewan showed “substantial improvement.”
The big bounce in resale activity that took place during the spring and [...]
The promise of spring was delivered through warmer weather and a higher volume of home sales as Saskatoon real estate agents reported sixty-six house and condo deals to the multiple listing service, picking up thirteen units over the previous week and seventeen compared to the same week in 2010.
New listings fell back to earth to [...]
On February 16, Finance Minister Jim Flaherty announced new rules that affect mortgage lenders and borrowers starting on April 19 of this year.
One of the changes requires that buyers qualify for their high-ratio mortgage based on the “five-year fixed rate” even if their mortgage payments are actually calculated on an available lower rate. In other [...]
Firm sales of Saskatoon homes continued to follow last year’s trend line through the first week of March as real estate agents reported a total of fifty-three house and condo sales to the local MLS system to bring a gain of five units compared to the previous week and finishing up by four homes compared [...]
The Saskatoon Region Association of Realtors recently reported February 2010 results for the entire residential category of Saskatoon real estate that includes single-family homes, condominiums, semi-detached properties, duplexes, mobile homes and vacant lots. Unit sales totaled 236 properties across all of these property types, at an average selling price of $291,056. Let’s have a look [...]
The Canada Mortgage and Housing Corporation (CMHC) released it Canadian Housing Market Outlook for 2010 today predicting residential resale activity across Canada will grow by just less than five percent to 486,700 while new housing starts rise by roughly as much to 175,150. According to CMHC the average price of a resale home in Canada [...]
