Ontario Housing Rules Blamed for 18% Drop in GTA Sales

Posted by on Jan 29, 2018 in Blog | 0 comments

by Canadian mortgage trends Earlier this month the Toronto Real Estate Board (TREB) blamed the Ontario Government for the 18% drop in home sales in 2017. In April, the Ontario Government introduced 16 measures to cool the overheating real estate market in the Greater Toronto Area (GTA), including a 15% tax on home purchases made by non-residents. “Much of the sales volatility in 2017 was brought about by government policy decisions,” TREB...

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Bump in December Home Sales

Posted by on Jan 29, 2018 in Blog | 0 comments

by Canadian mortgage trends The Canadian Real Estate Association’s December home sales data showed a 4.1% increase compared to a year earlier, while the average home price rose 5.7% to $496,500. Many suspect the surge in sales was partly due to homebuyers rushing to make their purchase before OSFI’s new mortgage regulations took effect January 1, requiring uninsured mortgages to be stress tested. “National home sales in December were...

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Be Aware of Mortgage Penalties

Posted by on Nov 7, 2017 in Blog | 0 comments

By STEVE HUEBL NOVEMBER 6, 2017 Mortgage penalties are probably hated about as much as taxes—but tenfold. Particularly when those penalties reach into the five figures. Take this case of an Edmonton couple that was initially quoted $17,000 to break their five-year fixed mortgage early. But homebuyers need not fall into the trap of being stuck with enormous penalties simply to break their mortgage early. Particularly when we know that the...

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Sky-high house prices? Parents to the rescue

Posted by on Aug 31, 2017 in Blog | 0 comments

Sky-high house prices? Parents to the rescue STEVE HUEBL AUGUST 9, 2017   With housing affordability declining across Canada, one trend is on the rise: parents are increasingly helping their adult children when it comes to housing. That assistance is coming in the form of cash gifts/loans for today’s growing down payments, and also from parents providing shelter to their adult children under their own roof. New data released...

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Soft or Hard Landing for the Toronto Real Estate Market?

Posted by on Aug 2, 2017 in Blog | 0 comments

    Soft or Hard Landing for the Toronto Real Estate Market? NOVAK JANKOVIC JULY 19, 2017 TWEET SHARE42 LINKEDIN22 June brought more declines in sales and prices to the Toronto real estate market, but are we in the midst of a soft landing or the beginning of a housing crash? Fortunately, the data suggests that the former is more likely. Based on Toronto Real Estate Board (TREB) data for June, sales of homes were 37.7 per...

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Prime Follows BoC Overnight Rate Up

Posted by on Jul 13, 2017 in Blog | 0 comments

Home Bank of Canada   Prime Follows BoC Overnight Rate Up STEVE HUEBL JULY 13, 2017 TWEET SHARE8 LINKEDIN2 It’s official: hundreds of thousands of Canadians will be paying higher interest rates as early as today. After two years stuck at just 0.50%, the Bank of Canada finally raised its overnight rate by a quarter-point to 0.75%, marking its first rate hike in almost seven years. Within 2.5 hours of the announcement Wednesday...

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