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...

Government policy with respect to the COVID-19 pandemic is being updated daily and the Ontario Real Estate Association (OREA) has your back in getting you the latest and most important information to keep you, your clients and communities safe. I have two breaking news updates for you. One is on virtual open houses and the other is related to NR12 evictions. Open House Prohibition & Virtual...

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...

How can I help to slow the spread of the virus? How Can I try to stay Well? What are the symptoms - and what should I do if I feel...

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...

What’s an assignment? An assignment is when a Seller sells their interest in a property before they take possession – in other words, they sell the contract they have with the Builder to a new purchaser. When a Seller assigns a property, they aren’t actually selling the property (because they don’t own it yet) – they are selling their promise to purchase it, along with the rights and...