Toronto Sales Down, Prices Questionable
Toronto continues to see a decline in its home sales last month. Not so surprising given that we’re still seeing the effects of this summer’s mortgage rules, and that we’re headed into the winter months, right? Right. But while we’ve been seeing number of sales go down while prices climb steadily over the past few…
Read moreCondo Fees Not Fazing Toronto Buyers
If you’re looking for an affordable Toronto mortgage, condos are currently the way to go. While single-detached homes in the city may be fetching average prices between $600,000 and $800,000, condos are only half that (or less!) This, as well as their convenient location, modern upgrades, and easy living are what’s making this type of…
Read moreA Home Could be Your Best Bet Against Inflation
According to Statistics Canada, our annual inflation rate has remained at 1.2 per cent for the past several months. This is good news, as it continues to support reasons for the Bank of Canada keeping the interest rate so low, and the increase isn’t really so much that consumers need to be worried. But inflation…
Read moreJim Flaherty: “I’m Happy” about Effect of Mortgage Rules
When Finance Minister Jim Flaherty saw Canada’s housing market climb and climb with apparently no ceiling to reach over the past two years, he knew it was time to do something about it. Yes, before July he had already instated new mortgage rules three different times – all with the same hope. That they would…
Read moreLooking for a Farm Mortgage? Be Prepared to Pay Top Dollar
It seems as though we’re going back to our roots in Canada – literally. Farmland has become more popular than ever with just about every market seeing these lots go for top dollar, and even attracting many investors. According to the Re/Max Market Trends Report, there are only three places in all of Canada right…
Read moreWould You go to Wal-Mart for a Mortgage?
The idea of retail stores opening up a mortgage business is really nothing new. Costco started offering mortgages here in Canada in 2010, and the retail giant has recently opened its doors on the mortgage business in the United States, too. Several years ago Canadian Tire tried to open its own little mortgage side business,…
Read more3 Reasons Why Falling Home Prices are a Good Thing
There are many right now that are panicked over our housing market. “The bubble has finally burst,” they say; or “Canadian homeowners are all about to find themselves underwater.” But wait. Before we start sounding the alarms and blaming the government for forcing a cool-down, and the falling home prices that go with it, let’s…
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