The results are in, and after years of back and forth, Toronto has finally tied Vancouver as the most expensive city to live in Canada. According to Mercer’s 24th Annual Cost of Living Survey, released Tuesday, Toronto jumped ten spots on the chart (to 109) and is now equally as expensive to live in as […]
The Bank of Canada released its Financial System Review last week, and while instability in the housing market, alongside high household debt, remains to be one of the biggest vulnerabilities to Canada’s economy, there may be subtle signs of easing. Government interventions, such as higher interest rates and tighter mortgage lending guidelines, have played a […]
The provincial election is one day away and according to a recent poll done by Ipsos, a majority of voters across the Greater Toronto Area (GTA) want the next elected party to put focus on housing policies that will increase supply and reduce demand in the region as well as decreasing provincial and municipal land […]
On Monday, The Toronto Real Estate Board (TREB) released its Monthly Market Figures for the month of May, and home sales across the Greater Toronto Area are down, once again, when compared to the same time last year. According to the report, the number of home sales for May was 7,834 units, a 22.2 per […]
Last week, CIBC forewarned that the number of mortgages it will grant in the back half of the year will be reduced by 50 per cent. The bank, which faced a serious number of cutbacks for mortgage applications during the first half of the year, believes that the new lending guidelines (including stress test for […]
Sales volumes may have been down these past few months, but the intent to buy a home across the country has significantly increased. According to a recent poll done by RBC Homeownership, one-third of Canadians are likely to buy a home in the next two years. This number, up from seven percentage points from last […]
Luxury home sales in Oakville, Burlington, Hamilton, and across Greater Toronto Area (GTA) saw a steep decline these past two months, but according to RE/MAX there is no need for concern, because this segment is intended to see plenty of activity throughout the mid-to-back end of the year. According the 2018 RE/MAX Luxury report released […]
Politicians from all three levels of government announced last Tuesday they will be investing over $45 million to create 75 affordable housing units in Vaughan. Woodbridge Lane, scheduled for completion in 2019, will feature 162 units for families, individuals, and seniors, including 75 units funded by the Investment in Affordable Housing (IAH). The complex will […]
On Sunday, The Bank of International Settlements (BIS) published their quarterly review of central banks, noting Canada is among the top three economies in the world most at risk of a banking crisis. The 196-page report from the Swiss-based organization outlines an assessment of various banking indicators; observing potential signs that can lead to stress […]
On Wednesday, the Bank of Canada (BOC) announced they will keep key interest rates unchanged at 1.25 per cent. Since June 2017, the BOC has raised its rates three times (including their latest hike in January), in return, forcing up the rates commercial banks charge on mortgages, lines of credit, and other consumer loans. The […]
