Canadian Mortgage News Daily — May 9, 2021

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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.

• 10 Things to Know About Mortgages This week… (RATESDOTCA)
  • Mortgage rules changes often breed uncertainty about pre-approval handling. We have word from OSFI on how pre-approvals will be handled post-June 1.

• Real estate frenzy to crest in 2021, CMHC says (BNN Bloomberg)

• NDP promises foreign buyers’ tax, half a million new homes to cool housing market (Times Colonist)

• Condition-free Offers (RECA)
  • Alberta’s regulator advises real estate agents to keep a paper trail if they advise buyers to go in with no purchase conditions.

• Canadian housing market showing signs of slowdown (Wealth Professional)

• Central 1 housing analysis predicts slower market in 2022 but prices continue upward (Times Colonist)

• Mortgage agents beware: don’t be seduced by low rates (Mortgage Broker News)

• New First-Time Home Buyer Incentive Might Fuel the Housing Bubble (The Motley Fool)

• Warren Buffett just sounded the alarm on inflation — here are seven ways to be ready (Financial Post – Subscription)

• David Rosenberg: Some effects of the pandemic may linger, but inflation isn’t one of them (Financial Post – Subscription)

• Higher prices will create drag on future sales of Metro Vancouver homes: CMHC (The Province)

• Necessary fixes in real estate: Blind bidding, and other questionable practices (Globe & Mail – Subscription)

• Congressman wants U.S. exemption for proposed tax on foreign homeowners in Canada (Montreal Gazette)

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