Penelope Graham
Penelope Graham is the Managing Editor of STOREYS. She has over a decade of experience covering real estate, mortgage, and personal finance topics. Her commentary on the housing market is frequently featured on both national and local media outlets including BNN Bloomberg, CBC, The Toronto Star, National Post, and The Globe and Mail.
Managing Editor
Renting
As Home Sales Plunge, Brokerages Are Turning to Lease Deals
With home sales down nearly 40% across Canada, real estate agents and brokerages are looking to the lease segment to drive business.
Mortgages
Bank of Canada Hikes Overnight Interest Rate Another 50-Basis-Points to Reach 4.25%
The Bank of Canada ended 2022 with one final hike, increasing its trend-setting interest rate to 4.25%, and hinting another may come in 2023.
Mortgages
Canada's Yield Curve is Inverted, Why That's Bad News
Canada's yield curve - the gap between the coupons offered by two-year and 10-year benchmark debt -- are steeply inverted right now.
Real Estate News
GTA Home Prices Slide 7% in November, New Listings Hit Historical Low
Home prices fell another 7% last month in the Greater Toronto Area, as home sales plunged by -49% year over year, reports TRREB.
Real Estate News
Average Home Price Needs to Fall Over $340K to Become "Affordable"
The average home price has far to fall before it can be considered affordable for first-time buyers, based on the current earnings gap.
Mortgages
More Rate Pain Promised in Last Bank of Canada Hike of the Year
The Bank of Canada will make its final rate announcement of the year next Wednesday, and another 25- to 50-basis-point-hike is in the cards.
Condos
Adi Developments Settles with HCRA, Can Resume Building and Selling Condos
Adi Developments announced this morning it has settled with the HCRA on the regulator's intent to revoke its license.
Community
"It's More Complex, Acute Need": Covenant House Sleep Out to Raise Awareness for Homeless Youth
The Sleep Out Champions Edition event held by Covenant House Toronto has raised $3M in 10 years to support youth experiencing homelessness.
Toronto
Mortgages
HSBC Canada Officially Acquired by RBC for $13.5B
HSBC Canada, the Canadian arm of the British global banking giant, has officially been snapped up by RBC in a $13.5B acquisition.
Mortgages
"Sign of the Times": Mortgage Lenders Get Creative to Help Cash-Strapped Clients
As interest rates rise and deal volumes fall, mortgage lenders are using "unorthodox" solutions to make files work, say industry pros.
Mortgages
Bank of Canada to Lose Money for First Time as Interest Rates Rise
Call it a self-fulfilling prophecy: the Bank of Canada is being squeezed by higher interest payments as a result of its own monetary policy.
Mortgages
An Additional 15% of Variable Mortgages to Hit Trigger Rate By Next Year
Risk is growing for more variable-rate mortgage borrowers to hit their trigger rate, according to recent speech from the BoC Deputy Governor.
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