Toronto Market Update – September 2024
Posted on Sep 05, 2024
Last month home sales in the Greater Toronto Area saw a slight increase, bouncing back from a decline in July, according to data released by the Toronto Regional Real Estate Board. This marks only the third monthly increase in the past eight months.
Despite the uptick in sales, home prices experienced a slight decline. The average price for a home i...
How Long Does It Take to Build a House in Canada?
Posted on Sep 05, 2024
Building a home is an exciting process that requires planning and patience. From design to construction, several factors affect the timeline. Here's a breakdown of what to expect at each stage and how long it typically takes to complete your dream home.
Factors That Affect Construction Time
Building a house involves many steps, from land acquisition...4 Fall Real Estate Myths
Posted on Sep 05, 2024
Don’t fall for the myths about selling your home in the autumn real estate market! If you’re planning to list your home this season, here are some common misconceptions debunked, along with tips to help you sell successfully.
Myth 1: Curb Appeal Doesn’t Matter in Fall
Wrong! Even in autumn, curb appeal is crucial. Keep your yard looking neat by clear...Pros and Cons: Condo, Townhouse, and Detached Home
Posted on Sep 05, 2024
Condo
Pros:- Low maintenance: The condo association typically handles repairs and routine upkeep.
- Amenities: Enjoy access to pools, gyms, and recreational areas.
- Security: Gated entrances...
30-Year Mortgage Amortizations Now Available For First-TimeBuyers
Posted on Aug 12, 2024
First-time buyers of new construction homes in Canada now have access to longer mortgage amortization periods. As of this month, lenders can offer 30-year amortizations for insured mortgages to first-time homebuyers of newly constructed homes.
This change extends the previous maximum amortization period for insured mortgages from 25 years to 30 yea...
Bank of Canada lowers overnight lending rate to 4.50%
Posted on Aug 12, 2024
For the second consecutive time, Canada’s central bank has cut its overnight lending rate. In its July 2024 announcement, the Bank of Canada reduced the target rate by 25 basis points, bringing it down to 4.50%.
Despite inflation remaining above the Bank's 2% target, the decision to lower rates is based on expectations that inflation will continue...