Toronto Market: Steady As She Goes

Prices All Property Types Jan 2018 Snagit

Following multiple disturbances overt the past year, including the ‘Fair Housing Plan’; tighter mortgage lending rules; and recent mortgage rate increases, the Toronto market has remained remarkably steady since last summer. Following the inflation and deflation of a price bubble through late 2016 and early 2017, prices have evened out and appear to be returning… Read More

How To Keep Your Mortgage Approval Approved

You know how tough it is to qualify for a mortgage. Prove you’ve got a long-term job with ample income. A credit score to the moon. Your life’s savings as a down payment. More cash stashed away. A debt-to-income ratio to die for. For some, tax returns for the last two years. You’ve been there,… Read More

Toronto Market Remains Steady

Prices_All Property Types Dec_2017

Well, that was quite a roller-coaster ride we’ve been on for the past 24 months! For many years, going back to the early 2000′s, Toronto area prices increased at a steady pace, averaging around 6% per year and always under 10% per year. Then, beginning in early 2016, prices began moving up much more quickly…. Read More

Toronto Market Remains Strong in October

Prices_Freehold_October_2017

The fall market continued to be very healthy in October, with sales of all property types up by 12% over September while prices remained steady. The relative strength of the condominium apartment sector relative to freehold properties continued last month: condo prices were slightly higher than in September and about 20% higher than last year,… Read More

Toronto Market Becomes A Bit Less Hot

Prices_May_2017

After three months of constantly accelerating price increases, the Toronto market has finally slowed down a bit. Prices fell in May as compared with April for the first time in many years, though May prices were still 15% higher than the same month last year. The supply of homes for sale has also increased significantly,… Read More

Toronto Market Explodes Out of the Gate in 2017

Prices_Jan_2017

The Toronto market is typically very quiet, almost sleepy, in the month of January. Not so this year. 2016 was exceptionally strong, with sales over the full year up 12% over 2015 and prices up more than 17%. This January, however, prices were up by a jaw-dropping 22% over the same month last year, and… Read More

Top Tips To Pay Down Your Mortgage Faster

With interest rates at an all-time low, many Canadians are taking advantage of the savings by refinancing their mortgages to consolidate debt, make home renovations, invest in real estate or other ventures, or moving up the property ladder. Here are some great ideas from Kerri Nelligan, a Home Financing Advisor at ScotiaBank, to take even… Read More

Toronto Real Estate Board Predicts Strong 2017 Market

TREB Logo

On January 31, 2016, the Toronto Real Estate Board published a report reviewing the  2016 Toronto area real estate market and forecasting the outlook for 2017. Highlights of the report include: There were 113,133 residential freehold and condo properties sold in the GTA in 2016. This was an all-time record, and it was 11.8% higher… Read More

Prices and Sales Fall in December — But Are Still Much Higher Than Last Year

prices-dec-2016

Toronto Prices in December were 6% lower than in November, and sales were 38% lower, but the market remained much stronger than last year. Our market follows a predictable seasonal pattern, with prices & sales at their lowest ebb in July/August and again in December/January. So the drop in sales and prices in December was… Read More

Untangling the New Mortgage Rules

The Federal Government has made two recent changes to the eligibility rules for government-backed insured mortgages: Effective October 17, all borrowers seeking high ratio (less than 20% down payment) mortgages must qualify based upon the Bank of Canada’s five year fixed posted rate (also known as the ‘Mortgage Qualification Rate’ or MQR). Presently the MQR… Read More