It’s been a battle of another sort as the U.S. Federal Reserve seems set finally – after crying wolf for more than a year – to raise its key interest rate by a quarter of a point. It would be the first increase in almost a decade. Interest rates have been at or near […]
Toronto Real Estate Posts
Canadian Finance Minister tightens mortgage rules on homes over $500K
The federal government is boosting the minimum down payment for higher-priced homes in Canada effective in the new year 2016. Homebuyers are currently required to put down a minimum of five per cent to qualify for Canada Mortgage and Housing Corporation insurance — protection that lenders insist on when providing a mortgage worth more than 80 per cent […]
CMHC finds foreign ownership of Toronto Condos low but growing
Canada Mortgage and Housing Corporation has crunched the 2015 numbers on foreign ownership of condos in Canadian cities and again concluded that it is low but growing. In Vancouver, about 3.5 per cent of condominiums were owned by foreign buyers in 2015, up from 2.3 per cent a year earlier. The percentage jumped in […]
Toronto, Vancouver house sales set blistering pace in November 2015
Home sales are at record levels in Toronto and near record levels in Vancouver, despite a steep run-up in prices that is putting housing out of reach for many first-time buyers. The era of rock-bottom mortgage rates shows signs of ending, with bond yields on the rise and the U.S. set to raise its benchmark […]
Don’t Ruin Your Chance to Buy a Home with Holiday Spending
If a new home purchase is in your future, or you’re currently under contract to purchase a new home soon, please read this! ‘Tis the season to spend, spend, spend. It’s hard sometimes not to get overwhelmed with the Holiday gift giving spirit. Shoppers around the country say they are planning to spend an […]
