By Jack Farrell Paying and receiving interest is prohibited in the Islamic faith under Sharia law, meaning traditional interest-based mortgages are not an option for many Muslims in Canada. A few private lending companies, such as Edmonton-based Canadian Halal Financing Corp., currently offer alternative financing plans that do not include interest payments, but these alternatives … Read more
By Sammy Hudes The council said 6,658 homes changed hands last month in the Greater Toronto Area, up 44.4 per cent from 4,611 in the same month last year. Sales increased 14% from September on a seasonally adjusted basis. The average sales price increased 1.1% from a year earlier to $1,135,215. The composite reference price, … Read more
Farming isn’t just a job: it’s a livelihood and the cornerstone of Canada’s food supply. Recognizing the unique challenges farmers face, Farm Credit Canada (FCC) has committed $60 million to Glengarry Farm Finance Corporation, with the goal of providing farmers with the financial flexibility needed to overcome temporary setbacks and maintain their thriving operations. . … Read more
By Sammy Hudes The report from Rentals.ca and Urbanation reveals that average asking rents across Canada stood at $2,152 in October, down 1.2% from the same month in 2023 – the first national decline since July 2021 . The decline is primarily concentrated in Canada’s large urban centers, with cities like Toronto, Vancouver, Calgary and … Read more
The cost of private mortgage insurance varies depending on the down payment and mortgage loan, but is generally about half a percent of the total loan amount. So how exactly is it calculated? Let’s say you bought a house for $100,000 and put $10,000 down. Your lender will multiply the remaining 90 percent by 0.005 … Read more
The Montreal census metropolitan area (CMA) recorded growth in all property types: sales of condominiums increased by 47%, single-family homes increased by 44% and plexes increased by 34%, bringing the transaction levels at pre-pandemic peaks. Lower interest rates have sparked renewed buyer interest, allowing more buyers to qualify for a mortgage and boosting demand, according … Read more
Real estate investing can be a lucrative business if done right. As 2024 approaches, it’s important to explore the best states for investing in real estate. In this article, we will look at the top states that offer promising opportunities for real estate investors. From Georgia to Colorado, we will analyze key factors such as … Read more
The news set off a wave of market reactions, triggering a surge in stock markets, cryptocurrency markets and bond yields, which determine the prices of fixed mortgage rates in Canada. For Canadian mortgage holders and home buyers, the ripple effects have been immediate, with some lenders already raising rates. But what does Trump’s victory really … Read more
By choosing the right financing options and focusing on trends in Florida’s markets, real estate investors can maximize their returns while benefiting from the state’s robust growth and tax advantages. Miami: Known for its strong job market, cultural appeal and growing technology industry, Miami remains one of Florida’s premier real estate markets. Its sought-after neighborhoods … Read more
By Nojoud Al Mallées Carolyn Rogers gave a speech Wednesday on the mortgage market to the Economic Club of Canada in Toronto. “We must resist the temptation to try to solve the housing affordability problem by tinkering too much with the mortgage market,” Rogers said in his prepared speech. The central bank official says improving … Read more