The Federal Reserve’s slowed path toward cutting interest rates offers an extended chance to lock in attractive yields for longer and investors should “right-size” their allocation to bonds over stocks, according to Vanguard Group Inc.
The Toronto Regional Real Estate Board says Greater Toronto home sales in April were down five per cent from last year, but new listings surged, which created more choice for buyers and kept prices stable.
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Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani has sold a Mayfair mansion to another member of the nation’s ruling family, one of London’s most expensive home deals in the past year.
Toronto home prices inch up as TREB calls for stress test review
Noah Zivitz , BNN Bloomberg
A sold sign is shown in front of west-end Toronto homes Sunday, May 14, 2017.
, The Canadian Press
Home prices inched higher in Canada's largest real estate market last month even as sales activity cooled.
The average selling price across the Greater Toronto Area rose 1.6 per cent year-over-year in February to $780,397, according to data released by the Toronto Real Estate Board on Tuesday. The price appreciation was even greater when compared to January's average price of $748,328.
TREB said in a release that Toronto’s housing market became tighter in February because new listings fell more sharply (6.2 per cent) than the slowdown in sales. Just over 5,000 homes in the region traded hands in February, marking a 2.4 per cent decline from a year earlier.
“The [Office of the Superintendent of Financial Institutions] mandated mortgage stress test has left some buyers on the sidelines who have struggled to qualify for the type of home they want to buy. The stress test should be reviewed and consideration should be given to bringing back 30-year amortizations for federally insured mortgages," said TREB President Garry Bhaura in a release.
WEIGH IN
What’s having the biggest effect on previously-hot housing markets?