Farewell 2017

Farewell 2017

2017 is drawing to a close, and we’re looking forward to welcoming the new year and the opportunities it may bring. It’s been a year of many mortgage rule changes, new regulations, mortgage stress test, foreign buyer tax, and more. The one thing that hasn’t changed is...
Getting ready for the fall market

Getting ready for the fall market

Many view September as the actual start of the year as children are back to school, summer holidays are over, cooler weather arrives, and we begin to focus again on our daily routine. It’s also typically a great time to start looking for a new home. More listings come...
Bank of Canada finally raises interest rate

Bank of Canada finally raises interest rate

For the first time in 7 years, the Bank of Canada didn’t announce that they were keeping their overnight rate at 0.5%. Instead, they announced this week a rate increase: to 0.75%. The bank cited economic growth—both domestic and international—for their position...
Summer is here, but is the market cooling?

Summer is here, but is the market cooling?

As recently reported by the Canadian Real Estate Association, the number of homes sold across Canada via the MLS system fell by 6.2% in May 2017 compared to April 2017. The month-over-month percentage decline was the largest since August 2012. Toronto had the greatest...
Could this real estate market be turning?

Could this real estate market be turning?

As per the Canadian Real Estate Association’s latest update, national home sales fell 1.7% between March and April and 7.5% since April 2016. Newly listed homes, however, were up 10% between March and April. This is good news if you want to purchase a home now. It...
What’s new for Canadian mortgages in 2017

What’s new for Canadian mortgages in 2017

The mortgage world has definitely changed over the last year with what seemed like new mortgage rules coming out monthly. Last week, CMHC announced new increases to the insurance premium charged on mortgages it insures. This new change will take effect March 17th....