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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OSFI finalizes new mortgage rules, including stress test for even uninsured borrowers

In this article posted by By Pete Evans of CBC News, it talks about the new OSFI rule change. This is something that may cause a “mini rush” in the market before the rules take place Jan 1 of 2018. We will see how this play out and what will happen to the market in 2018. Please …

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Ontario’s Fair Housing Plan

Ontario’s Fair Housing Plan Ministry of Finance Ontario’s Fair Housing Plan introduces a comprehensive package of measures to help more people find affordable homes, increase supply, protect buyers and renters and bring stability to the real estate market. The plan includes: Actions to Address Demand for Housing: Introducing legislation that would, if passed, implement …

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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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CMHC to issue first-ever ‘red’ warning for Canadian housing market: What that means for you

Canadian Mortgage and Housing Corporation CEO Evan Siddall said in an op-ed in the Globe and Mail this week that for the first time ever, the federal agency will be issuing a “red” level warning for the entire Canadian housing market. The announcement will come in CMHC’s quarterly Housing Market Assessment on Oct. 26. …

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