OTTAWA – Moves by Ottawa to tighten mortgage lending rules did little to cool the country’s two hottest real estate markets as home sales in Toronto and Vancouver continued to charge ahead last month.
The Toronto Real Estate Board on Tuesday reported record high sales volumes and another jump in prices in the first quarter, anchored by a strong March, the first full month for the latest change in mortgage regulations that require larger down payments on some homes.
The results followed a report Monday by the Real Estate Board of Greater Vancouver that home sales there hit a monthly record in March.
Full article here: http://www.680news.com/2016/04/05/toronto-and-vancouver-markets-charge-ahead-despite-mortgage-rule-changes/
