Sidewalk Labs to weigh suggestions from panel for Toronto smart city project

Sidewalk Labs to weigh suggestions from panel for Toronto smart city project
TORONTO — Sidewalk Labs is keen on reviewing and potentially implementing recommendations made by a panel of millennials for the Alphabet Inc.-backed company’s proposed high-tech community in Toronto. The recommendations for the smart city being developed in conjunction with Waterfront Toronto touch on the project’s housing strategy, transit policies, design techniques and even its data and privacy measures, which have been marred in controversy for months because... Read More

Annual pace of housing starts picked up in October, topped expectations

Annual pace of housing starts picked up in October, topped expectations
OTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts in October increased compared with September. The housing agency says the seasonally adjusted annual rate of housing starts last month came in at 205,925 units, up from 189,730 in September. Economists had expected an annual rate of 200,000, according to Thomson Reuters Eikon. The increase came... Read More

Home Capital shares soar in Toronto on third-quarter profit beat

Home Capital shares soar in Toronto on third-quarter profit beat
TORONTO — Shares of Home Capital Group surged as much as 25 per cent after the alternative mortgage lender beat profit expectations for the third quarter. The Toronto-based company reported net income of $32.6 million during the three months ended Sept. 30, up from $30 million during same period a year earlier. Home Capital says the profit amounted to 41 cents... Read More

Montreal home sales in October up 11 per cent compared with a year ago

Montreal home sales in October up 11 per cent compared with a year ago
MONTREAL — Home sales across Montreal and its surrounding areas in October surged 11 per cent compared with a year ago, as the city’s real estate market continued on a hot streak. The Greater Montreal Real Estate Board says there were 3,731 sales last month, a new sales record for the month of October. It also marked the 44th consecutive monthly sales increase,... Read More

CMHC forecasts ‘moderation’ in Canadian housing market over next two years

CMHC forecasts ‘moderation’ in Canadian housing market over next two years
OTTAWA — Canada Mortgage and Housing Corp. says the country’s real estate market is expected to moderate over the next two years as the growth in housing prices is expected to slow to more in line with economic fundamentals. In its 2018 housing market outlook released today, the national housing agency projects housing starts and sales are both expected to decline... Read More

Greater Toronto home sales up 3.5 per cent in October from a year ago

Greater Toronto home sales up 3.5 per cent in October from a year ago
TORONTO — Strong sales in the condo and higher-density low-rise markets helped drive home prices in the Greater Toronto Area higher last month, compared with a year ago. The Toronto Real Estate Board says the average sale price was $807,340 in October, up 3.5 per cent from $780,400 year-over-year. Adjusted seasonally, the average selling price last month was up one per cent compared with... Read More

Five things to watch for in the Canadian business world in the coming week

Five things to watch for in the Canadian business world in the coming week
TORONTO — Five things to watch for in the Canadian business world in the coming week: Poloz in the UK Bank of Canada governor Stephen Poloz will give a speech to the Canada-UK Chamber of Commerce in England on Monday. Soft wage growth numbers from Statistics Canada on Friday have some economists predicting a slower rise in interest rates. Housing... Read More

US average mortgage rates ease; 30-year at 4.83 per cent

US average mortgage rates ease; 30-year at 4.83 per cent
WASHINGTON — Long-term U.S. mortgage rates declined this week, in a quiet pause after weeks of market anxiety over rising interest rates. Home borrowing rates still remain at their highest levels in more than seven years, dampening the outlook for prospective homebuyers. Mortgage buyer Freddie Mac said Thursday the rate on 30-year, fixed-rate mortgages eased to an average 4.83 per... Read More

RioCan Real Estate Investment trust reports Q3 profit down from year ago

RioCan Real Estate Investment trust reports Q3 profit down from year ago
TORONTO — RioCan Real Estate Investment Trust reported a third-quarter profit of $130.3 million, down from $184.6 million a year ago. The shopping mall owner says the profit amounted to 41 cents per unit for the quarter ended Sept. 30 compared with a profit of 56 cents per unit a year ago. Funds from operations totalled $147.3 million or 47... Read More