Good luck buying a home anywhere in Ontario right now, as meteoric price gains and a historic inflation spike push housing markets in the province further out of reach. And as bad as things are in the Greater Toronto Area in 2022, rampant speculation is not limited to urban centres. According to one housing market assessment, Peterborough is now the single most overvalued housing market in the entire...
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As widely expected by economists, the Bank of Canada implemented another half-point interest rate increase in today’s rate policy announcement, embarking on the tightest hiking cycle seen in decades and reinforcing its commitment to tame runaway inflation growth. The 50-basis-point hike — the second consecutive, following the April 13 announcement — brings the bank’s trend-setting...
Selecting a mortgage is one of the biggest – and most stressful – financial decision made by many Canadians. But a clear understanding of a few basic terms and concepts can help allay some the anxiety. Here’s a primer on the basics of mortgages, along with insights into the current market. THE BASICS What is a mortgage? In plain terms, a mortgage is a loan most often used to buy a house,...
Your home is likely your largest and biggest investment you will ever make. When thinking of selling and to maximize the value of your investment you will need to spend some cash before it hits the market and also costs involved after closing. Let's go over some of the obvious and less obvious costs of selling you home. Expected Costs of Selling a Home in Ontario: 1- Realtor...
Find the benefits relevant to you Get information on what’s available to: those who have lost income; renters and homeowners; families; seniors; students; businesses; Canadians abroad. There’s also a personal finance section with information on tax and utility bill deferrals. This guide provides the basic benefit information you need to apply for...
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You’re pre-approved for a mortgage to help you find the home of your dreams. Then, you hand over your down payment, collect your mortgage funds, pay the seller and get the keys, right? Not so fast. There are other costs to consider. These closing costsOpens a popup. and additional expenses can impact your offer, the size of your down payment and the amount of mortgage you...
Maybe you’re buying a home for the first time. Or maybe you’re selling your old home to move to something new. Whether buying or selling, you’re involved in an intricate process requiring many specialists. One of these specialists might be a REALTOR®, who’s responsible for making the transaction as easy as possible for you. The REALTOR® Difference However, not every licensed...
CREA compiles and analyzes numerous factors affecting the real estate market for the public, REALTORS® and governments. With the accurate, up-to-date information that CREA provides: The public gets a snapshot of the Canadian housing market;REALTORS® can knowledgeably advise their clients; andPoliticians and government policymakers can craft more effective legislation and...