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Homes sales decline ‘sharply’ in May

Thursday Jun 15th, 2017

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The Canadian Real Estate Board releases latest round of housing market stats. National home sales dropped 6.2% month-over-month from April to May, according to CREA. That represents the largest sales decline since August 2012. The most drastic sales decline occurred in the Greater Toronto Area, where the market experienced a 25.3% month-over-month drop. Activity was also down “significantly” in surrounding areas, including; Oakville, Hamilton, and Barrie. “Recent... [read more]

Home Capital stock surges after OSC and class action lawsuit settlements

Thursday Jun 15th, 2017

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TORONTO, Shares in Home Capital Group were up 15 per cent in the first minutes of trading Thursday since it reached settlements in two cases that could have complicated efforts to recover from a damaging loss in investor confidence. The Toronto-based mortgage lender's stock rose $1.83 to $13.95 per share (TSX:HCG) shortly after markets opened. The rebound in the stock follows an announcement late Wednesday that Home Capital has agreed to pay $30.5 million to settle a class-action... [read more]

Fed rate decision announced

Thursday Jun 15th, 2017

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by Bloomberg14 Jun 2017   Most Read Home Capital stock surges after OSC and class action lawsuit settlements Shares in Home Capital Group were up 15 per cent in the first minutes of trading Thursday since it reached settlements in two cases that could have complicated efforts to recover from a damaging loss in investor confidence Brace for a possible tax on speculative home purchases: CREA chief economist The chief economist of the Canadian Real Estate... [read more]

Toronto sales slump as inventory jumps

Thursday Jun 15th, 2017

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by Steve Randall06 Jun 2017   Most Read Home Capital announces $10 million OSC settlement Home Capital says it has reached a settlement with the Ontario Securities Commission relating to allegations of misleading disclosure Home price index shows sharpest May rise ever The latest Teranet-National Bank National Composite House Price Index has recorded its largest ever rise for May in its 19-year history Home sales in Toronto dropped to 10,196... [read more]

Greater Toronto Area home sales plummet 20.3% last month

Thursday Jun 15th, 2017

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by The Canadian Press05 Jun 2017   Most Read Home Capital stock surges after OSC and class action lawsuit settlements Shares in Home Capital Group were up 15 per cent in the first minutes of trading Thursday since it reached settlements in two cases that could have complicated efforts to recover from a damaging loss in investor confidence Brace for a possible tax on speculative home purchases: CREA chief economist The chief economist of the Canadian... [read more]

FCAC warns of risk from HELOCs

Thursday Jun 15th, 2017

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by Steve Randall08 Jun 2017   Most Read Home Capital announces $10 million OSC settlement Home Capital says it has reached a settlement with the Ontario Securities Commission relating to allegations of misleading disclosure Home price index shows sharpest May rise ever The latest Teranet-National Bank National Composite House Price Index has recorded its largest ever rise for May in its 19-year history Some homeowners may over-borrow due to... [read more]

BMO CEO downplays housing risk, says market 'essentially heals itself'

Thursday Jun 15th, 2017

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by The Canadian Press09 Jun 2017   Most Read Home Capital stock surges after OSC and class action lawsuit settlements Shares in Home Capital Group were up 15 per cent in the first minutes of trading Thursday since it reached settlements in two cases that could have complicated efforts to recover from a damaging loss in investor confidence Brace for a possible tax on speculative home purchases: CREA chief economist The chief economist of the Canadian... [read more]

Foreclosure v.s. Power of Sale

Tuesday Dec 27th, 2016

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In the unfortunate circumstance that a homeowner is past-due on their monthly mortgage payments, they pave the way for a “foreclosure” on their property. In today’s market, banks and other lenders do not turn to foreclosure to take away the homes of homeowners who are in arrears. Instead, they perform a "Power of Sale" which is wholly different from a Foreclosure. What is a Foreclosure? Foreclosures are laborious, grueling, and costly to both the... [read more]

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