The Bank of Canada (BoC) cut interest rates by 50 basis points, reflecting concerns about a slowing economy and deflation risks, as inflation fell to 1.6% in September. Employment growth is lagging behind population growth, with a year-over-year increase of 1.5% in employment compared to a 3.6% rise in population. While the rate cut is seen as positive, a tangible recovery in the commercial real estate...
Mortgage market watchers anticipate Bank of Canada interest rate cuts will increase market activity in upcoming months.The Bank of Canada cut its benchmark rate by 25 basis points for the third consecutive time....
Interest rate cuts are boosting homebuying optimism, making homes more affordable for Canadians. 13% of Canadians plan to buy homes soon, up from 11%, especially among younger buyers....
On December 15, 2024, the federal government will implement mortgage rule changes aimed at easing home purchases for insured mortgage borrowers. These changes are expected to boost Canadian home sales and prices in 2025, although their effectiveness may be limited by affordability issues. Key changes include extending the maximum amortization period for first-time buyers from 25 to 30 years and raising...
Welcome to Parkhill Terrace, a beautifully appointed condo in Clayton Park's prime location! This charming unit is perfectly positionedwithin walking distance of top-rated schools, major bus routes, shopping centers, grocery stores, amenities, and the Canada Games Centre,offering a lifestyle of utmost convenience.This inviting condo features a bright,...
The Prohibition on the Purchase of Residential Property by Non-Canadians Act began on January 1, 2023. The ban restricts non-Canadians and foreign corporations from purchasing residential properties in Canada for two years....
This beautiful townhouse is Just one year old. It is a great location and is close to lots of amenities. Three levels are finished with hardwood stairs throughout and engineered laminate flooring. Open concept main floor with kitchen, quartz counters in Kitchen, dining area and spacious living area. Powder room on this level. Upper level has three bedrooms,...
The Canadian Real Estate Association (CREA) has revised its forecast for home sales and prices due to changing expectations around interest rate cuts. The market anticipates the Bank of Canada will reach a "neutral" rate by next spring or summer, leading to a holding pattern in sales until then. CREA forecasts 468,900 residential properties will be sold in 2024, a 5.2% increase from 2023, with...
High rates and affordability challenges persist, but recent data shows potential better times ahead for first-time buyers.25% of Canadians are saving to buy a home, with 35% being younger millennials and Gen Z....
Canada's rental market is cooling, with average rent growth slowing to 3.3% yearly in Mid-Q3. Increased housing supply and reduced demand, partly from policy changes, are easing pressure on rent prices....