Category Archives: data

19% mortgage fraud rate?

Bullwhip29 shared this story claiming 1 in 5 millennials commit mortgage fraud:

Around one in five (19 per cent) of Millennial home buyers responding to the survey admitted to inflating their annual income on their mortgage application. And nearly 23 per cent of Millennial home buyers said they think this is an acceptable course of action in today’s mortgage climate — nearly double the 12 per cent of all respondents who agreed this was OK.

Read the full article here.

Sales rise in July but prices slide

We saw and increase in prices last month, but so far that isn’t showing an impact on prices which continue to fall.

That’s according to the latest data from the Real Estate Board of Greater Vancouver (REBGV), which said that despite the bump, sales remained 7.8 per cent below the 10-year July sales average.

“Despite the bump in sales, prices have continued to slide. The benchmark price for a detached home across the region in July was $1.4 million, down 10.5 per cent from July 2018 and down 0.5 per cent from June this year.

Read the full article here.

One half year into a decline

It’s not just Vancouver, sales are falling across the nation marking the first March decline since the recession.

Prices fell in seven of the 11 markets in the index, led by a 1.5 per cent drop in the capital region of Ottawa-Gatineau. In Victoria, British Columbia’s capital city, prices were down 1.1 per cent, with Vancouver prices down 0.5 per cent.

Canada’s once-hot housing market has softened since the start of last year, as tighter mortgage rules and five interest rate hikes from the Bank of Canada since July 2017 have curbed buyer spending power.

Read the full article here.