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Toronto home sales expected to slip, but average prices forecast to climb

Toronto home sales expected to slip, but average prices forecast to climb THE CANADIAN PRESS PUBLISHED JANUARY 30, 2018 Canada’s largest real estate board predicted a slower year ahead for Toronto’s housing market after it overheated in 2017 and sent home prices surging. In a preview of its annual forecast, the Toronto Real Estate …

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RBC, TD, CIBC hike mortgage rates ahead of Bank of Canada rate decision

April Fong , of Staff writes; Royal Bank of Canada and Toronto-Dominion Bank raised their posted five-year fixed mortgage rates, increasing borrowing costs for Canadian homebuyers ahead of the Bank of Canada’s interest rate decision next week. RBC raised its posted five-year fixed rate by 15 basis points to 5.14 per cent, with more rate hikes across …

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Toronto and Hamilton are the hottest housing markets in Canada

From  Toronto’s real estate market can be a pretty scary place. Prices continue to rise, making home ownership a pipe dream for many of those who live in the city. The same holds true for Hamilton, which has witnessed tremendous growth. The Globe and Mail reports today that according to the Teranet-National Bank …

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Ontario offers 1st-time homebuyers bigger tax break

The Ontario government is moving to double the maximum tax rebate offered to first-time home-buyers while boosting the land-transfer tax on house purchases above $2 million. Finance Minister Charles Sousa made the announcements in his fall economic statement, delivered in the provincial legislature on Monday afternoon. The changes are to take effect on Jan.1, 2017. First-time homebuyers across Ontario will become eligible for …

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These are Tesla’s stunning new solar roof tiles for homes

Tesla founder and CEO Elon Musk wasn’t kidding when he said that the new Tesla solar roof product was better looking than an ordinary roof: the roofing replacement with solar energy gathering powers does indeed look great. It’s a far cry from the obvious and somewhat weird aftermarket panels you see applied to roofs after …

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Toronto-Dominion Bank raising rates, variable rate mortgage customers to face increased costs

One of the country’s largest banks has moved a key prime rate up 15 basis points for variable-rate mortgage customers, a change that will affect some Canadians with floating rate products. Toronto-Dominion Bank began quietly telling the lending industry on Monday that its prime lending rate was going to jump from 2.7 per cent …

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Why Toronto home prices won’t fall as rapidly as Vancouver’s

If the latest forecast from National Bank comes to pass, it would mark a serious change of pace for residential real estate in two of Canada’s major markets. The bank, Canada’s sixth largest, is calling for home price declines in both Toronto and Vancouver next year. National Bank expects Vancouver home prices to tumble …

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Here’s why Canada’s red-hot housing market may be cooling, but won’t be crashing

The Canadian housing market can expect slower price growth over the next five years, but fears of a national housing crash may be overblown, according to a Moody Analytics report released this week. The report, which cites Brookfield’s housing price index for its data, states that house prices for detached single family homes are …

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Bank of Canada keeps low rate unchanged, admits growth slower than expected

OTTAWA — The Canadian economy is still trying to catch up to its potential, with low commodity prices and weak global demand keeping growth subdued and providing few incentives for the Bank of Canada to adjust interest rates. Governor Stephen Poloz, along with other members of the policy counsel, acknowledged as much on Wednesday …

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Toronto needs a new wave of world-scale projects

“We need to do some big things.” Urban planner Joe Berridge is at it again and we should listen. One of the early catalysts who jerked Toronto out of inertia at the turn of the millennium says it’s time for a new wave of world-scale projects that grab global attention and inspire us at …

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