Here’s a daily helping of fresh Canadian mortgage news (the italics are the Spy’s 2 cents).
Reader note: RateSpy’s mortgage news is now at → RATESDOTCA.
- Homes Consuming an Ever-Growing Slice of Incomes (RATESDOTCA)
- How changing Canada’s capital gains exemption would hit the sale of your home (Financial Post – Subscription)
- “A capital gains tax…would erase a stack of cash that could potentially fund years’ worth of spending in retirement.”
- In Vancouver and Toronto, as many as 1 in 5 homeowners own more than one property (The Globe & Mail – Subscription)
- Average Canadian credit score improved during pandemic, Borrowell study finds (Financial Post – Subscription)
- B.C. economist says proposed 1 percent tax on Canadian homes owned by foreigners a “fringe measure” (The Georgia Straight)
- A 1% tax has no teeth and to critics, seems like window dressing. At best it’s a symbolic warning that, when combined with other policies and oncoming supply, could dampen market psychology.