My Real Estate Blog - Market Trends, Tips & Updates
GTA home prices expected to drop in 2024: Re/Max report
11/28/2023 | Posted in GTA Real Estate by Paul DeAdder
Home prices in the Greater Toronto Area are expected to slide once again next year, according to a new report from one of the country’s largest real estate ... More
Overview of housing initiatives in the government's Fall Economic Statement
11/21/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
From a crackdown to short-term rentals to new investments to create more housing supply, the federal government made housing a key component of its Fall Economic Statement ... More
Mortgage activity down 25% from 2022 and fixed rates remain top choice, stats show
11/23/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
High interest rates have applied the brakes to Canada’s mortgage market, which saw growth slow to a 22-year low in September.
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Canada's profligate spending forced interest rates higher: Scotiabank
11/20/2023 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
Without that boost in spending, the central bank’s key overnight lending rate would be about 3 per cent instead of the current 5 per cent, according to Scotiabank ... More
Canadian Home Sales See Downward Trend Continue in October
11/15/2023 | Posted in Canadian Housing Market by Paul DeAdder
Statistics released today by the Canadian Real Estate Association (CREA) show national home sales declined on a month-over-month basis in October 2023.
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Mortgage market risks rising in high-rate environment: CMHC
11/15/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
Surging interest rates are weighing down on current homeowners – and further turbulence is on the horizon
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Rent prices are up $175 in the past six months and have pushed rent inflation to a 30-year high
11/14/2023 | Posted in Rental Market by Paul DeAdder
The average asking rent in Canada has increased by about $175 over the past six months, and is now nearly 10% higher compared to a year ago.
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New mortgage activity slowing - but debt continues rising, says CMHC
11/9/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
Residential mortgage debt in Canada totalled $2.14 trillion as of August this year, up by 3.4% compared with the same month in 2022 as the value of uninsured mortgages ... More
BoC to begin rate cuts by 2024's second quarter, market players say
11/7/2023 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
Experts are anticipating the BoC benchmark interest rate to retreat to 4% by the end of next year
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Interest rates may stay higher for good: Bank of Canada's Carolyn Rogers
11/9/2023 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
The Bank of Canada’s No. 2 official urged preparation for interest rates staying elevated for longer.
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No more rate hikes expected as unemployment rate rises to 21-month high
11/3/2023 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
Canada’s unemployment rate ticked up two basis points to 5.7% in October, suggesting the Bank of Canada can now remain “firmly on the sidelines,” economists ... More
Average rental prices in Canada surge to records highs in October 2023: report
11/4/2023 | Posted in Rental Market by Paul DeAdder
Rental prices in Canada reached a new high with the average asking price of $2,149 per month, according to a new report.
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Higher Borrowing Costs See Buyers Remain on Hold
11/2/2023 | Posted in GTA Real Estate by Paul DeAdder
Lack of affordability and uncertainty remained issues for many would-be home buyers in the Greater Toronto Area (GTA) in October 2023. As a result, sales edged lower compared ... More
Upcoming mortgage renewals part of why BoC held rate at 5 per cent: Macklem
11/1/2023 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
Bank of Canada governor Tiff Macklem says the central bank held its key interest rate at five per cent in part because of the effect a wave of upcoming mortgage renewals is ... More
Most Canadian mortgage holders facing big payment shock: RBC
10/31/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
Canadian homeowners are facing a significant payment shock on their mortgages unless interest rates decline in the coming years, according to a new Royal Bank of Canada (RBC) ... More
Bank of Canada delivers rate hold, but maintains hawkish bias
10/25/2023 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
The Bank of Canada delivered its second straight rate hold today, but signalled that it remains concerned about inflationary risks and price pressures.
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Commercial real estate sector not in crisis, says analyst
10/19/2023 | Posted in Commercial Real Estate by Paul DeAdder
'Turbulence' is the best way to describe the current challenges, according to executive
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OSFI report reveals largely unknown mortgage exemption: no stress test on insured switches
10/20/2023 | Posted in Mortgage News by Paul DeAdder
Many in the mortgage industry reacted with surprise after learning about a little but very important nugget buried in an OSFI report released earlier this week.
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Bank of Canada likely to begin cutting rates in mid-2024: CIBC's Tal
10/18/2023 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
The overnight rate could settle around 3%, according to leading economist
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10/18/2023 | Posted in Home Owners by Paul DeAdder
Police forces and legal experts in Ontario are pushing for the provincial government to make legislative changes that would reduce elaborate fraud scams targeting ... More
