Slavica  Wolf

Slavica Wolf

Sales Representative

Right at Home Realty, Brokerage*

Office:
416-391-3232
Email Me
Slavica  Wolf

Slavica Wolf

Sales Representative

Right at Home Realty, Brokerage*

Office:
416-391-3232
Email Me

Monthly Real Estate Trends GTA October Toronto 2024 

Greater Toronto Area (GTA) home sales in September 2024 



The Bank of Canada just cut its lending rate. Here’s what that could mean for Canadians

Key Takeaways:

  1. The Bank of Canada (BoC) just announced its third rate cut this year, bringing its overnight lending rate down to 4.25%
  2. ​The BoC’s lending rate serves as the benchmark that banks and other financial institutions use to set interest rates for products such as mortgages and loans
  3. ​TD Economics believes the central bank will continue to gradually reduce rates throughout 2024 and into 2025
  4. ​The BoC has two more scheduled
  5.  


TRREB: September Home Sales Improve Over Last Year

Greater Toronto Area (GTA) home sales increased year-over-year in September. Buyers were starting to take advantage of more affordable market conditions brought about by interest rate cuts and lower home prices.

 



OSFI UpdatesHomeowners won't face mortgage stress test if renewing with new lender: OSFI

Canada’s banking regulator is easing the burden on homeowners trying to switch their lender when renewing their mortgage by dropping the need to reapply the stress test.

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Rates Going Down

Mortgage Digest: 50% odds of a 50-bps October rate cut, experts say

Markets are increasingly betting on the Bank of Canada delivering a 50-basis point rate cut during its October 23 policy decision, with the odds now sitting at around 53%.

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Chrystia Freeland - Government of CanadaFederal government raises insured mortgage cap to $1.5M, expands 30-year amortizations

In September, the federal government unveiled sweeping changes to Canada’s mortgage system by raising the insured mortgage cap to $1.5M, expanding 30-year amortization - calling them the “boldest reforms in decades.” The federal government recently provided a more detailed framework for its updated mortgage rules, which are set to take effect on December 15, 2024.

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BaCIBC Forecastnk of Canada to Start Jumbo Rate Cuts by December, CIBC Says

One of the country’s biggest lenders says the Bank of Canada will accelerate the pace of monetary easing in order to stave off recession.

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