Are you struggling to obtain a mortgage because of the new lending guidelines that were implemented at the beginning of the year? Well, if you’re self-employed, qualifying for a mortgage is about to get… a little bit easier. Predominantly due to varying and unpredictable income levels, Canadians who are self-employed have consistently struggled to obtain […]
Following months of declining activity, Toronto housing market seems like it is on its way to recovery. According to a recent report by the Canadian Real Estate Association (CREA), Toronto home sales saw a 17 per cent incline in June 2018 when compared to May 2018, and the volume of home transactions across the nation […]
Amidst uncertainty on trade actions with the United States, the Bank of Canada (BoC) has raised its benchmark interest rates to 1.5 per cent, a 25-basis point increase and the fourth hike in 12 months. The widely expected interest rate hike, which was announced on Wednesday, is now sitting at the highest level since the […]
After months of dwindling sales and tumbling prices, Toronto’s housing market is finally starting to show signs of recovery, as increased sales are showing home buyers are beginning to re-enter the market. According to the latest Monthly Market Figures by the Toronto Real Estate Board (TREB), home sales and average prices for the month of […]
Affordability has been a major topic of concern in Vancouver and Toronto, Canada’s largest markets. According to a new report, Vancouver affordability is at a critical level while Toronto’s affordability still poses a major challenge despite improvement. RBC released their Housing Trends and Affordability report earlier this week, and illustrates that while the affordability measure […]
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 […]
Toronto’s condominium sector is becoming the leading market for new home buyers, and as a result is forcing prices to jump to 25 per cent to $758,370. According to a recent report by the Building Industry and Land Development Association (BILD), the reason for the increase in prices within the condo sector is due to […]
Amidst months of above-average activity, the pace of housing starts for the month of May fell sharply to 195,613 units from 216,775 units this past April, according to a recent report by the Canada Mortgage and Housing Corp (CMHC). The decline seen in May was due to drastically fewer condos, apartments, and town homes being […]
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 […]
