How well do you know the Canadian housing market?
Do you follow the Canadian residential real estate market closely? To test how much you know, try taking the following quiz.
What is Canada’s national housing agency called?
Canada Mortgage and Housing Corporation is Canada’s national housing agency. CMHC’s responsibilities include insuring mortgages, advising government policy and conducting market research.
Canadian Mortgage and Housing Corporation
Canada Mortgage and Housing Corporation
Canada Mortgage and Home Corporation
The Bank of Canada’s key interest rate is also known as?
The central bank's key interest rate, which influences mortgages, is also sometimes called the overnight rate.
Prime rate
Overnight rate
Main rate
Even casual observers are familiar with the five largest banks in Canada, known as the Big Five — that's BMO, CIBC, RBC, Scotiabank and TD — but what is Canada’s sixth biggest?
Montreal-based National Bank is the country’s sixth biggest bank, ahead of HSBC Bank Canada, HSBC’s Canadian subsidiary, which comes in at number seven and is the largest foreign-owned bank operating in Canada. Laurentian Bank mainly operates in Quebec.
National Bank
HSBC Bank Canada
Laurentian Bank of Canada
Canada’s rate homeownership rate is roughly what percentage?
Some 69 per cent of Canadian households own their dwellings, according to Statistics Canada’s most recent National Household Survey from 2011, which is still often cited.
About 50 per cent.
About 60 per cent.
About 70 per cent.
Who is the the Bank of Canada’s governor?
Stephen Poloz has been the governor of Canada’s central bank since June 2013. Bill Morneau is Canada’s finance minister, while Bob Dugan is CMHC's chief economist.
Bill Morneau
Stephen Poloz
Bob Dugan
When did BC start taxing foreign buyers of Metro Vancouver residential real estate?
On the second day of August this year, the BC government applied a 15-per-cent tax on non-residents purchasing residential real estate anywhere in Metro Vancouver.
August 1st, 2016
August 2nd, 2016
September 1st, 2016
What year was the busiest for Canada in terms of existing-home sales?
Back in 2007, a record 521,804 dwellings changed hands across the country.
2015
1989
2007
The Toronto Real Estate Board, the largest board of its kind in the country, has been involved in a major legal battle this year — but with who?
TREB is currently appealing the Competition Tribunals ruling in favour of the Competition Bureau over the release of home sale data, which the board wants access to remain limited to.
Competition Bureau
Competition Tribunal
The Superintendent of Financial Institutions
How much will the City of Vancouver's tax on vacant homes be?
In 2017, the City of Vancouver will start applying a 1-per-cent tax on vacant dwellings with the goal of compelling some investors to put their units on the rental market.
1 per cent
5 per cent
15 per cent
For every dollar of disposable income Canadians had, how much debt were they saddled with on average in Q3 2016?
Canadians on average owed $1.67 for every dollar of disposable income they had in the third quarter of 2016, according to Statistics Canada's debt-to-income ratio.
$1.67
$1.25
$2.13
Share you results on social media or in the comment section below!