Source: TRREB
The Greater Toronto Area (GTA) housing market experienced a marked adjustment in 2022 compared to record levels in 2021. Existing affordability issues brought about by a lack of housing supply were exacerbated by sustained interest rate hikes by the Bank of Canada.
(Source: City of Toronto)
The City of Toronto's Vacant Home Tax (VHT): Residential properties in the City of Toronto that is unoccupied for more than six months (cumulative) in a calendar year may be subject to the new tax starting from 1st January 2023.
(Source: Bank of Canada)
Buying a home is probably the biggest purchase you’ll ever make. If you’re like most people, you won’t pay cash—you’ll borrow most of the money by taking out a mortgage. And over the life of the mortgage, you’ll pay a lot in interest.
Small changes in interest rates can make a big difference in how much you’ll pay. So it’s important that you understand what determines the interest rate on your mortgage, even if you already own a home.
(Source: Bank of Canada)
Buying a home is probably the biggest purchase you’ll ever make. If you’re like most people, you won’t pay cash—you’ll borrow most of the money by taking out a mortgage. And over the life of the mortgage, you’ll pay a lot in interest.
Small changes in interest rates can make a big difference in how much you’ll pay. So it’s important that you understand what determines the interest rate on your mortgage, even if you already own a home.
(Source: Bank of Canada)
Buying a home is probably the biggest purchase you’ll ever make. If you’re like most people, you won’t pay cash—you’ll borrow most of the money by taking out a mortgage. And over the life of the mortgage, you’ll pay a lot in interest.
Small changes in interest rates can make a big difference in how much you’ll pay. So it’s important that you understand what determines the interest rate on your mortgage, even if you already own a home.
OTTAWA ─ December 15, 2022 ─ Office of the Superintendent of Financial Institutions
Today, the Office of the Superintendent of Financial Institutions (OSFI) announced that the minimum qualifying rate (MQR) for uninsured mortgages will remain the greater of the mortgage contract rate plus 2 per cent or 5.25 per cent.
Here are some numbers released showing the average home prices by Toronto Regional Real Estate Board. This represents month-to-month change and the year-over-year change. How does that impact your decision to sell or buy a home? Not sure what is the value of your home today? Or looking to buy to take advantage of a depressed market? call me today @ 416 834 6208
Here are some numbers released showing the average home prices by Toronto Regional Real Estate Board. This represents month-to-month change and the year-over-year change. How does that impact your decision to sell or buy a home? Not sure what is the value of your home today? Or looking to buy to take advantage of a depressed market? call me today @ 416 834 6208
Here are some numbers released showing the average home prices by Toronto Regional Real Estate Board. This represents month-to-month change and the year-over-year change. How does that impact your decision to sell or buy a home? Not sure what is the value of your home today? Or looking to buy to take advantage of a depressed market? call me today @ 416 834 6208
INTEREST RATE HIKES DRIVE DOWN HOME SALES AND NEW LISTINGS IN NOVEMBER TRREB CALLS INCREASED BORROWING COSTS ‘SHORT-TERM SHOCK’ TORONTO, ONTARIO, December 6, 2022 –
Homeownership market activity in November continued to be influenced by the impact of higher borrowing costs on affordability. Sales were down markedly compared to the same period last year, following the trend that unfolded since the commencement of interest rate hikes in the spring. New listings were also down substantially from last year, and at a very low level historically. The fact t
