Canadian home prices are on the rise with a near 20% projected increase by the end of December, according to the Canadian Real Estate Association’s (CREA) most recent report As home sales across the country saw a slight drop in August, falling 0.5% compared to July, prices continued to rise, bringing the average Canadian home [...]
Canadian homeowners are effectively paying significantly less per month than renters, a new study from Royal Le Page says. The study, which sought out to answer the age old question of “is it better to rent or buy?” analyzed price data from across the country. It found that although homeowners are often paying much more [...]
You have heard the term, maybe on the radio, in a newspaper or in the news. Stress Test. But what is it exactly? A mortgage stress test is a way of determining exactly how much you can afford (and under what circumstances). If your income was reduced or you lost your job, could you still [...]
Durham Region experienced a super-charged real estate market in January, which flowed from a booming fourth quarter in 2020. As a result, the area is on track to see an early spring market. In January, what’s typically a quiet month for home buyer activity, the Durham Region — which spans Ajax, Brock, Clarington, Oshawa, Pickering, [...]
Mortgage shoppers take note: Cheap money is here to stay, at least for the next two years, the Bank of Canada reaffirmed during its interest rate decision on Wednesday. The BoC had previously provided guidance that rates would remain at their effective lower bound—currently 0.25%—“until 2 percent inflation target is sustainably achieved,” but went a [...]
