Real Estate News Headlines // February 18th 2015

Jethro Seymour, one of the Top Toronto Real Estate Brokers, provides you with Canadian real estate news headlines.

The Globe and Mail

Less than a month after the Bank of Canada’s surprise interest-rate cut, a renewed mortgage-rate war is in full swing. But, this time, it’s being driven by an unlikely source: smaller lenders.
Even as Canada’s big banks have cut rates to near three-year lows, small credit unions and mortgage brokers are going a step further, sacrificing profits in a fierce bid for new business.

Wall Street Journal

Annual percentage change (to December 2014) of luxury-home prices in 100 cities and second home locations around the world.

The Star Phoenix

According to the Saskatoon Region Association of Realtors (SRAR) the average price of a condo slipped to $254,355 from $264,262 in January 2014, a two-storey home was $558,170 in January 2015 (compared to $501,462 in 2014) and a bungalow was $350,158 in 2015 compared to $373,408 in 2014.
In January 2015 SRAR saw a total of 724 new listings within the city limits of Saskatoon whereas January 2014 SRAR had 637.
Nationally home sales slipped lower in January for the second month in a row, with a slowdown in Calgary and Edmonton responsible for much of the decline.

Jethro Seymour, one of the Top Midtown Toronto Agents at Royal LePage RES Ltd., Johnston & Daniel Division