GTA Home Sales Up Substantially in November
Greater Toronto Area (GTA) home sales increased strongly on a year-over-year basis in November 2024. Many buyers benefitted from more affordable market conditions brought about by lower borrowing costs. New listings were also up compared to November 2023, but by a much lesser annual rate. This meant that market conditions tightened, resulting in overall average price growth compared to last year.
Bank of Canada cut rates in December by 50 bps
The Bank of Canada (BoC) is preparing for its final rate announcement of 2024 on December 11, with economists anticipating a potential further reduction in its lending rate that could impact borrowing costs for Canadians.
OSFI's stress test change sparks industry confusion
Canada’s banking regulator threw the mortgage industry a curve ball last week when a representative suggested there were some restrictions to a recent policy change most brokers weren’t aware of.
Ontario debates sharing tenant arrears data with credit agencies
Ontario is exploring a proposal to allow credit reporting agencies to access Landlord and Tenant Board (LTB) orders for renters with a history of missed payments.
TRREB: Sales and Average Selling Price Increases in October
Greater Toronto Area (GTA) home sales increased strongly year-over-year in October 2024. Over the same period, new listings were up, but by a lesser annual rate. The result was tighter market conditions compared to October 2023. The average selling price was up slightly on an annual basis.
Canadian homeowners consider switch to variable rate mortgages after big rate cut
More Canadian homeowners are considering switching to variable rate from fixed rate mortgages after last month's unusually large interest rate cut by the central bank.
What you need to know before helping your child with a home down payment
With the benchmark prices for a home in Toronto at over a million dollars, the prospect of saving enough for a down payment to enter the real estate market can be a daunting task for first-time buyers.
Toronto landlords who evict tenants to renovate could require renovation licence in 2025
Landlords who plan to evict tenants to renovate their properties may soon be required to apply for a licence and provide additional financial compensation to the tenants they are displacing.
