The CMHC Improvements Program — Making Toronto Real Estate More Affordable for Home Buyers CMHC Helps Buyers Transform Fixer-Uppers into the Homes of their Dreams. It wasn’t long ago when a home that “may need a little TLC” was enough to make a homebuyer turn the other way. Now, in Toronto’s tight market, where affordability …
CMHC Improvements Program — Building Equity While Renovating Your Dream Home Read More »
In an announcement made by Toronto Real Estate Board President Mark McLean last week, GTA REALTORS® reported 7,385 home sales through TREB’s MLS® System in November 2015 – a 14 per cent increase compared to November 2014 and a record number for November sales to date. Toronto’s real estate market saw 96,401 sales for the …
Toronto Real Estate Market Watch — November 2015 Read More »
As the mercury continues to drop, families across the GTA begin to haul the heavy coats, mitts, toques and scarves out of storage. Preparing our bodies for the harsh Canadian is always a tedious task and a sad reminder of the cold months that lay ahead. Just like our bodies, our houses need special …
In Toronto, ‘Tis the Season to Save Money–Ways to save on energy costs in the winter Read More »
Are Mortgage Rates in Canada on the Rise? In an announcement made last week by Toronto Real Estate Board President Mark McClean, GTA home sales showed the best results on record to date. With 8,804 home sales reported through TREB’s MLS® system, October was a favourable month for Greater Toronto Area REALTORS®. Additionally, The …
TREB Market Watch, October 2015 — Are Mortgage Rates on the Rise? Read More »
The Municipal Land Transfer Tax is coming to a town near you, and most likely, your town as well. The dreaded Municipal Land Transfer Tax (MLTT) might be spreading across Ontario as an additional taxation measure backed by the Liberal Government. This tax will be on top of the existing Provincial Land Transfer Tax …
Liberal Party Policy Change–Additional Land Transfer Tax for Buyers in Ontario Read More »
Does 2015 CMHC Fourth Quarter Report support promises made by the Liberals? Members of the media had full plates for the majority of October–Between the Federal election and Post-Season baseball, it’s been difficult to cover much else. Now, with Trudeau’s win and the Blue Jays’ loss, Canadian consumers can set their sights back on the …
56,000 condos At the end of 2014, there were more than 56,000 condos under construction in Toronto. That’s far more than what’s being built in other cities with a greater population like Chicago, Los Angeles, or New York. As a comparison, during most of the 1990s the city hovered around 10,000 condo starts. Almost 3,000 …
A Look at the Numbers: 1982: Average house price in Canada — $72,500 2015: Average house price in Canada — $439,100 1982: Average five-year fixed mortgage rate (March) — 19.4% 2015: Average five-year fixed mortgage rate (March) — 3.8% 1982: Outstanding residential mortgages — $30-billion 2015: Outstanding residential mortgages — $953-billion Sources: CREA, Statscan
Effective today, June 1, 2015, Canada Mortgage and Housing Corporation (CMHC) is increasing mortgage insurance premiums by 15 per cent for homebuyers making less than a 10 per cent down payment. Mortgage insurance is typically required by lenders if a homebuyer’s down payment is less than 20% of the total purchase price of the home. …
CMHC Mortgage Insurance Premiums Increase — How will the changes affect you? Read More »
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