Monday, May 2, 2022 @ 12:00 AM
Posted By: Eric Axiak
Purchasers put down a combined $5.7 million in deposits across 2 cancelled townhouse projects Hasmukh Patel and his wife thought a brand new townhouse in Richmond Hill, Ont., would be the perfect place for them to retire in a few years. But within a year of signing a pre-construction purchase agreement,
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Category: Real Estate
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Tuesday, April 5, 2022 @ 12:00 AM
Posted By: Eric Axiak
There were almost 11,000 Greater Toronto Area (GTA) home sales reported in March 2022, capping off the third-best March and second-best first quarter on record. Tight market conditions continued to support a double-digit annual pace of price growth, with an average selling price of $1.3 million. The average selling price
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Category: Market Watch
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Saturday, April 2, 2022 @ 12:00 AM
Posted By: Eric Axiak
The next rate announcement from the Bank of Canada is scheduled for April 13th. Many will be watching closely to see if they will be increasing their key policy rate for the second time this year. This is the rate that mortgage lenders use to set their prime rates, which
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Category: Mortgage Info
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Thursday, March 3, 2022 @ 12:00 AM
Posted By: Eric Axiak
In their 2 nd scheduled rate announcement for 2022, the Bank of Canada confirmed this week that they will be increasing their key policy rate by 0.25%. The last time they increased their rate was on October 24, 2018. Today’s increase affects anyone with a variable rate or a HELOC (Home Equity
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Category: Mortgage Info
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Thursday, March 3, 2022 @ 12:00 AM
Posted By: Eric Axiak
February home sales were down compared to the all-time record in 2021, but represented the second-best result for the month of February in history. New listings dropped, but by a marginally lesser annual rate than sales, pointing to a modest move to a slightly more balanced market. Competition between buyers,
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Category: Market Watch
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Friday, February 4, 2022 @ 12:00 AM
Posted By: Eric Axiak
The Bank of Canada surprised markets somewhat last week by leaving its key lending rate unchanged. It did, however, send a clear signal that rate hikes are imminent. Leading up to last week's decision, markets had increasingly anticipated that the Bank would deliver a 25-bps rate hike as a first
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Category: Mortgage Info
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Friday, February 4, 2022 @ 12:00 AM
Posted By: Eric Axiak
Demand for ownership housing remained very strong from a historic perspective in January 2022. At the same time, listings remained in short supply, resulting in tight market conditions and very strong year-over-year price growth. There were 5,636 sales reported through the TRREB MLS® System in January 2022 – down by
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Category: Market Watch
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Tuesday, January 11, 2022 @ 12:00 AM
Posted By: Eric Axiak
In the last scheduled rate announcement from the Bank of Canada on December 8 th , they held true to their projection on holding their overnight rate steady until sometime in the middle two quarters of 2022. The US Federal Reserve has since hinted that they may have to raise
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Category: Mortgage Info
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Thursday, January 6, 2022 @ 12:00 AM
Posted By: Eric Axiak
A record 121,712 sales were reported through TRREB’s MLS® System in 2021 – up 7.7 per cent from the previous 2016 high of 113,040 and up 28 per cent compared to 2020. Record demand last year was up against a constrained supply of listings, with new listings up by 6.2
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Category: Market Watch
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Friday, December 3, 2021 @ 12:00 AM
Posted By: Eric Axiak
Home sales reached a new record for the month of November and the average selling price also reached a new all-time high. New listings were down substantially compared to last year for all market segments – further highlighting the inherent supply issue across all home types in the Greater Toronto
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Category: Market Watch
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Listings
