BMO Financial Group says recent changes to mortgage stress test rules and the cooling of prices and sales in some regions may moderate the country’s housing market.

“We can assume, just given what we’re seeing right now in housing prices and sales, that there will be some moderation,” Erminia Johannson, BMO’s group head of North American personal and business banking told analysts on Wednesday.

“But it will still remain a fairly robust mortgage market in Canada, for sure, over the next little while.”

Johannson made the comments as BMO beat expectations, reporting its second-quarter profit nearly doubled compared with a year ago when the amount it set aside for bad loans soared at the start of the pandemic.


The new mortgage stress rules come into effect on June 1. They will set the qualifying rate on uninsured mortgages at either two percentage points above the contract rate, or 5.25 per cent, whichever is greater.

The change is aimed at taking...

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I have sold a property at 55 3031 WILLIAMS RD in Richmond.
SUNSETS, snow geese and swimming, oh my! Come for the view, stay for the VALUE: unleash your design dreams on this rarely available 3BR + DEN detached townhome in popular EDGEWATER PARK. This bright 1,523-sq-ft home features 3 BATHROOMS; separate laundry area; outdoor storage shed; TWO PARKING SPOTS—and tons of potential! Family-friendly with a LARGE PRIVATE BACKYARD GARDEN, and POOL, PLAYGROUND and WEST DYKE NATURE TRAIL at your doorstep. Elementary catchment is Dixon (offers FR Immersion); high school is Boyd (EN) or McMath (FR). It’s an easy walk to Garry Point and the vibrant amenities of historic STEVESTON VILLAGE from this well-managed complex. Long close possible. CALL TODAY to book your private showing!
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I have sold a property at 5331 MONCTON ST in Richmond.
Wonderful family home in sought after Steveston! Well kept, this spacious 3.700 sq. ft. 4 bedroom, games room and den also has 4 baths, a 3 - car garage and parking for a 5th wheel! The private backyard is perfect for young families and those with green thumbs! Located on an 8,300 sq. ft. sunny southern exposed lot, its walking distance to Steveston Village and the dyke. Matterport Tour available by clicking on Virtual Tour or on the listing agent's website. Professionally measured by PixlWorks.
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I have sold a property at 5 6031 FRANCIS RD in Richmond.
Large 2012 sq. ft. duplex style townhome in great central location. Updates to this inside unit include a newer kitchen with dark shaker style cabinets, glass tile backsplash and granite countertops. Other desirable features are cross hall living and dining areas, large eating area off of the kitchen, loads of storage, private backyard and a double car garage with side by side parking. Very well managed complex with low a maintenance fee! Professionally measured by PixiWorks.
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I have listed a new property at 683 26TH AVE W in Vancouver.
Fantastic opportunity! Zoned RM-8A, this centrally located, extensively renovated Cambia area home is perfect for investors or those needing a mortgage helper. Open main floor plan features a modern kitchen, 3 bedrooms and 2 full baths. 2 bedroom legal suite is bright and open. Walking distance to South Cambie shops and restaurants and just minutes to Oakridge, Kerrisdale and downtown.
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I have listed a new property at 5331 MONCTON ST in Richmond.
Wonderful family home in sought after Steveston! Well kept, this spacious 3.400 sq. ft. 4 bedroom, games room and den also has 4 baths, a 3 - car garage and parking for a 5th wheel! The private backyard is perfect for young families and those with green thumbs! Located on an 8,300 sq. ft. sunny southern exposed lot, its walking distance to Steveston Village and the dyke. Matterport Tour available by clicking on Virtual Tour or on the listing agent's website. Professionally measured by PixlWorks.
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I have listed a new property at 5 6031 FRANCIS RD in Richmond.
Large 2012 sq. ft. duplex style townhome in great central location. Updates to this inside unit include a newer kitchen with dark shaker style cabinets, glass tile backsplash and granite countertops. Other desirable features are cross hall living and dining areas, loads of storage, private backyard and a double car garage with side by side parking. Professionally measured by PixiWorks.
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Metro Vancouver housing prices will continue to rise after the COVID-19 pandemic, creating a drag on sales growth as homebuyers’ budgets shrink, according to the Canada Mortgage Housing Corp.’s spring outlook Thursday.

CMHC senior analyst Braden Batch predicted that Metro’s housing market will face the same housing affordability and supply-shortage challenges that existed pre-pandemic.

He said demand for housing in Vancouver last year went in two different directions: demand for home ownership expanded, and demand for rental housing receded.

The COVID-19 lockdown resulted in a major decline in the typical flow of migrants into the Vancouver region, especially very young adults and students, while lower mortgage rates triggered a burst of move-up and first-time buyers entering a market that was already experiencing dwindling inventories before 2020, added Batch.

“Vancouver’s housing market will adjust to reopening borders and development in fu...

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I have sold a property at 6811 JUNIPER DR in Richmond.
Beautiful tudor style family home in desirable home Parklane West neighborhood. Updates to this spacious 4 bedroom, media room and den include, kitchen, baths, flooring, windows and cedar shake roof. Character abounds with cozy sunken family and living rooms, a dining room with French doors opening on to an outdoor deck. Manicured 9' hedges surround the slate tiled private patio. Centrally located with easy access to Richmond Centre, Richmond Olympic Oval and Steveston Village, Parklane West is also in the sought after Steveston London Secondary School catchment. Professionally measured by PixlWorks.
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I have sold a property at 28 6300 LONDON RD in Richmond.
1 Level townhouse at London Landing's in McKinney Crossing. With a practical layout this well kept 2 bedroom plus den is perfect for young families or those looking to downsize. Both bedrooms have their own private patios. The master bedroom includes a huge walk-in closet! Den can be easily made into a 3rd bedroom. Tucked away along the dyke in south Richmond, this location offers peace and tranquility to those looking to be close to nature. Just minutes by to Steveston Village and Ironwood Shopping Centre. Comes with 2 parking! Professionally measured by PixlWorks.
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