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Market Stats- January 2017

Market Stats- January 2017

“January 2017 picked up where 2016 left off: sales were up on a year-over-year basis while the number of new listings was down by double-digit annual rates for most major home types. Home ownership continues to be a great investment and remains very important to the majority of GTA households. As we move through 2017, […]

What’s Driving Toronto Real Estate Market?

What’s Driving Toronto Real Estate Market?

When Vancouver slammed the door on foreign buyers last year there was a great deal of concern that they would simply shift their attention east to another overheated market: Toronto. But a new study suggests Ottawa’s new tougher mortgage rules will have a bigger impact on the Toronto market. New research by Ipsos Public Affairs […]

Mortgage Insurance Premiums Set To Rise

Mortgage Insurance Premiums Set To Rise

Canada’s federal housing agency is hiking the cost of mortgage loan insurance for homebuyers starting March 17, as part of new regulatory requirements requiring it to hold more capital to offset risks in the country’s red-hot real estate market. Canada Mortgage and Housing Corp. said Tuesday it doesn’t anticipate the increases will have a major […]

Pleas To City Hall To Make Home Ownership More Attainable

Pleas To City Hall To Make Home Ownership More Attainable

Toronto’s budget subcommittee got an earful at Toronto City Hall Tuesday as members of the public, union leaders and business associations lined up to give their input into Toronto’s operating budget. The hearings into the 2017 operating and capital budgets have been going on in civic centres around Toronto for nearly a week, but on […]

Is Vaughan Ready For A Condo Boom?

Is Vaughan Ready For A Condo Boom?

The CN Tower defines Toronto’s skyline. Roller-coasters define Vaughan’s. For now, anyway. One real estate developer is hoping to build condo towers, stretching 51- and 53-storeys tall, in an area that will soon be the city’s downtown core. Other new buildings are already springing up in the same area — dubbed the Vaughan Metropolitan Centre […]

First-Time Buyers Beware!

First-Time Buyers Beware!

If you’re a first-time homebuyer hoping to live in the big city, beware the government’s new borrower “stress test.” It could relegate you to the ’burbs. The new rule requires all insured borrowers to prove they can afford a payment at the posted five-year fixed rate (which is currently 4.64 per cent). That could kill […]