NO BANK OF CANADA RATE CHANGE TODAY!

By: BRIAN C. MAYER

NO BANK OF CANADA RATE CHANGE TODAY!

Tags: Bank of Canada, Interest rates, mortgages, mortgage rates

The Bank of Canada announced today that it is holding the overnight rate given the growing uncertainty in trade talks affecting Canadian and global outlooks. The Bank noted  that “while the economic outlook is expected to warrant higher interest rates over time, some continued monetary policy accommodation will likely be needed to keep the economy operating close to potential and infla...Read More

Will buying real estate with Bitcoin catch on?

By: By Neil Sharma (Canadian Real Estate Wealth)

Will buying real estate with Bitcoin catch on?

Tags: Bitcoin, Bitcoin and real estate, Toronto Real Estate

An offer on a Mississauga condo using Bitcoin as currency was accepted this week—a first in Canada—but as the cryptocurrency surges in popularity, will transactions of this kind catch on? The seller, Derryn Shrosbree, an erstwhile derivative trader on Wallet Street, listed his two-bedroom condo for 35 Bitcoin and sold it for the equivalent of $445,000, and as he told the CBC, he belie...Read More

MULTIPLE REPRESENTATION: who's working for WHO?

By: BRIAN C. MAYER

MULTIPLE REPRESENTATION: who's working for WHO?

Tags: multiple representation, pre-emptive offers, bully offers, bidding wars, Unethical practices in real estate, RECO, toronto real estate

So, you are buying a home where the listing salesperson is from the same brokerage as your agent. Or you are a seller selling your home and your agent has his own buyer. Should you be concerned? I decided to write this blog as I found myself in this exact same situation during my last listing; where I, the listing agent was in a position to represent both my sellers and my own buyer at the negoti...Read More

Toronto condo selling prices exhibiting consistent growth!

By: Canadian Real Estate Wealth - Jan 29, 2018

Toronto condo selling prices exhibiting consistent growth!

Tags: Toronto real estate, condos, toronto condos, resale condos, condominiums

In its latest data release, the Toronto Real Estate Board stated that the average selling price for condominium apartments went up by 17.9% on a year-over-year basis in the fourth quarter of 2017, up to $515,816. “While this annual rate of growth was down from earlier in 2017, the condominium apartment segment was still the leader in terms of price growth in the second half of the year,&rdq...Read More

Yes! Condo renos make a HUGE difference!

By: BRIAN C. MAYER

Yes! Condo renos make a HUGE difference!

Tags: Renovations, Condos, Condo renovations, design, home renovations

Torontonians have been loving condos I’d say at least since the mid-80s, but these days, there is more demand than ever. With the value of condos on the rise, it is normal to see owners trying to get the most out of their condo unit and just like houses, one of the best ways to increase the value of your property is through renovations. I recently sold a renovated condo in an older building ...Read More

NEW MORTGAGE 'STRESS TEST': The final nail in the coffin?

By: BRIAN C. MAYER

NEW MORTGAGE 'STRESS TEST': The final nail in the coffin?

Tags: Mortgage Rules, Stress test, Mortgages, Move-up buyers, first-time homebuyers, Mortgage Professionals, Superintendent of Financial Institutions, bank of canada

Canada’s banking regulator introduced new rules on Tuesday that extends the requirement for a mortgage – a.k.a  ‘stress test’ –  (even for uninsured mortgages, which have down payments of 20 per cent or more) to all homebuyers. The guidelines will take effect  January. 1, 2018 and apply to new mortgages as well as mortgage renewal applications if borro...Read More

Real Estate Signs: Can You Spot an Up-and-Coming Neighbourhood?

By: Source: GeoWarehouse

Real Estate Signs: Can You Spot an Up-and-Coming Neighbourhood?

Tags: Up-and-Coming Neighbourhoods, Toronto real estate, Vancouver real estate

If real estate signs are any indication, Toronto and Vancouver continue to be two of Canada’s hottest real estate markets. According to recent reports from the Teranet-National Bank House Price Index, home prices have risen steadily over the past few months, with the biggest 12-month rises ever for Toronto and Hamilton. According to a recent Financial Post, Vancouver went up for the first ti...Read More

BANK OF CANADA TAKES ACTION: for the second time this year.

By: (Source: Dominion Lending Centres)

BANK OF CANADA TAKES ACTION: for the second time this year.

Tags: BAnk of canada, interest rates, mortgage rates, TArget overnight rates

The Bank of Canada has done it again!  The Bank of Canada raised the target overnight rate another 25 basis points to 1.0% making it two hikes in a row following seven years of increasing monetary stimulus. The outsized 4.5% growth in GDP in the second quarter precipitated this action, despite two offsetting factors: the recent surge in the Canadian dollar, up more than 8% in the past three ...Read More

FALL OUTLOOK: bubble deflated, gone and no 'crash landing'?

By: BRIAN C. MAYER

FALL OUTLOOK: bubble deflated, gone and no 'crash landing'?

Tags: market outlook, Market Crash, Toronto real Estate, Real Estate Bubble, fall forcast, REal estate crash landing, housing bubble

With the last long weekend of summer behind us, the fall real estate market is officially here! I hope you all had a great summer.  So, what is happening with the real estate market?   Buyers, Sellers, Realtors and economists alike are all in a tizzy right now over Toronto's housing market and the word "bubble" seems to sway news predictions and repopulate our RSS fee...Read More

AFTER THE RATE HIKE... What's next?

By: BRIAN C. MAYER (source: INVIS Canada's Mortgage Experts)

AFTER THE RATE HIKE... What's next?

Tags: Mortgage rates, rate hikes, bank of canada, mortgages, buying a toronto home

On July 12th, for the first time in seven years, the Bank of Canada increased the overnight rate by .25%, withdrawing some of the stimulus that was needed after the oil price collapse and 2008 financial crisis. Variable rate mortgages and lines of credit will see higher rates and modest payment increases. Fixed-rate mortgages – which are based on the bond market – had already been tre...Read More