Toronto Prices and Sales Move Higher in October

In a continuation of the ‘return to normal’ trend that we have seen since early this year, Toronto area prices and sales in October were higher than both the previous month and the previous year. The seasonal pattern that we saw repeated year after year over the past 20 years (up until the bubble started… Read More

Rising Interest Rates Are Causing Increased Anxiety

Results of a recent cross-Canada Ipsos poll conducted by MNP Ltd. show that Canadians in general and Ontarians in particular are concerned about continued increases in interest rates. One third of respondents said that they are worried that higher interest rates could push them closer to bankruptcy – up 6% from the same poll three… Read More

The Fall Market Has Arrived

Overall, the Toronto area market continues to follow the trend established early this year, a trend very similar to what we saw for more than 15 consecutive years before last years ‘bubble and burst’: slower in December/January and July/August, and strong from February through June and from September through November. Right on cue, September average… Read More

Toronto Real Estate Market Following A Smooth Trend

After the tumultuous up-and-down price action that we saw in 2017, the return to a normal seasonal pattern in 2018 has been very welcome. Prices and sales spiked upward in extreme fashion in early 2017 and then, after the Ontario government issued its 16-point ‘Fair Housing Plan’ in April, the bubble deflated rapidly through the… Read More

Toronto Market Continues to Normalize

For the third month in a row, average selling prices have increased in the Greater Toronto area. While prices are still significantly lower than this time last year, they are very much in line with the historical trend that existed before the aberrational late 2016/early 2017 bubble came and went.   For example, year-to-date average… Read More

Mortgage Rate Games

Since last week, four of Canada’s ‘Big Six’ banks have raised their posted mortgage rates: TD Canada Trust by 45 bps (from 5.14% to 5.59%) and the other three by 10-30 bps. These rates aren’t ‘real’ in the sense that they are typically about 2% higher than the actual 5 year fixed rate that you… Read More

Leaner Toronto Market Remains Strong

Media reports continue to focus on how this year’s market conditions compare to the same time last year, and therefore continue to misconstrue what is really going on. Last month total sales (number of homes sold) were 40% lower than the same month last year, and the average selling price was 14% lower. Year-to-date results… Read More

Toronto Market: Steady As She Goes

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

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