Market Update

First-time buyers can receive up to $1,000 towards the cost of their new home under a new incentive program announced by BMO

Affordability in Vancouver and Toronto, the rental market balance in Calgary, and levels of multifamily construction in four major markets; all highlighted as significant risks to the housing market by RBC Economics

There was a 22.3 per cent year-over-year rise in condo sales in the Greater Toronto Area in the last three months of 2016 with 6,831 units sold

Average weekly wages of non-farm payroll employees in Canada increased slightly in November, up 0.8 per cent from both the previous month and a year earlier, to $961

HomEquity Bank has reported a 26 per cent rise in reverse mortgage sales with a total of $459 million in 2016

The City of Toronto is not increasing the Land Transfer Tax for first-time buyers which could have added as much as $4,475 to the cost of buying a home

BMO has been included among a list of only 52 firms globally in the Bloomberg Financial Services Gender-Equality Index

Mortgage lenders will have access to enhanced insights into customers’ credit profiles following the release of a new multi-million-dollar technology platform

Homeowners could recoup the purchase price of their homes faster through short-term rentals such as Airbnb compared to a long-term rental strategy

More than a third of Canadians polled by CIBC said that paying off their mortgage sooner was a key financial goal