Real Estate News

This week, the Bank of Canada hiked interest rates yet again, raising its key interest rate by a quarter of a percentage point to 5 per cent, and the prime rate to 7.2 per cent.

TORONTO — A report by Royal LePage says the average home price in Canada in the second quarter edged lower compared with a year ago. The firm's house price survey says the aggregate price of a home in Canada was down 0.

TORONTO — When the warm weather hits, Arthur Parks usually sees up to 10 referrals from Toronto real estate agents with clients feeling the allure of lakeside living as the summer heats up.

TORONTO — Fidelity Investments Canada ULC has signed a deal that will offer investors exposure to private real estate investments through Brookfield Asset Management.

OTTAWA — Canada's banking regulator has launched consultations on proposed changes to mortgage guidelines to address risks related to borrowers with growing balances.

MONTREAL — Transat AT Inc. says it has sold a piece of land in Mexico to resort company Finest Resorts for US$38 million.

CALGARY — As the curtain rises on the 10-day extravaganza that is the famed Calgary Stampede, homebuyers are also stampeding to snap up real estate in Alberta's largest city.

Toronto homebuyers that snapped up a property last month paid more on average than they did a year ago but less than they would have if they closed the deal in May, the Toronto Regional Real Estate Board said Thursday.

VANCOUVER — The Real Estate Board of Greater Vancouver says last month's home prices ticked up from May as prospective homebuyers faced a dearth of supply in the region. The board says the composite benchmark sat at more than $1.

CALGARY — The Calgary Real Estate Board says June home sales rose by nearly 11 per cent from a year earlier as the market saw a surge in apartment and condos changing hands.