My Real Estate Blog - Market Trends, Tips & Updates
Bank of Canada cuts key interest rate to 4.5% with hints of more to come
7/24/2024 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
The Bank of Canada cut its benchmark interest rate by a quarter of a percentage point on Wednesday, the second straight reduction in the central bank’s easing cycle.
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Inflation report "all but guarantees" a Bank of Canada rate cut next week: economists
7/16/2024 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
Experts speculate the Bank of Canada may cut rates next week following a larger-than-expected slowdown in the country’s inflation rate in June.
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Supply in Canada's property market surges as mortgage renewals loom
7/17/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
With many Canadian homeowners facing a sharp rise in mortgage payments, many of them have decided to bail, resulting in the highest number of Toronto housing units for sale in ... More
Toronto new condo sales plummeted to lowest level since 1997 in first half of year: report
7/18/2024 | Posted in Ontario Real Estate by Paul DeAdder
New condominium sales plummeted to a 27-year-low during the first six months of 2024 as a “sharp downturn in construction starts” in Toronto continued to impact ... More
Bottom is nigh for most CRE valuations, office still a struggle: Altus
7/16/2024 | Posted in Commercial Real Estate by Paul DeAdder
The bottom is in sight for commercial real estate valuations, though there’s probably more room for office values to continue their decline.
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The hidden cost of rising debt: why checking your credit report matters more than ever
7/14/2024 | Posted in Financial Health by Paul DeAdder
With interest rates and borrowing costs at elevated levels, it’s more important than ever to ensure your credit report is in good standing.
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Canadian Housing Activity Perks Up in June
7/12/2024 | Posted in Canadian Housing Market by Paul DeAdder
Activity in Canada's housing market saw some early signs of renewed life in June 2024, following the Bank of Canada's interest rate cut at the beginning of the ... More
Interest rate cut hasn't led to rush of homebuyer demand yet: Royal LePage report
7/11/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
Despite expectations of lower interest rates prompting homebuyers to leave the sidelines, a new report says the Bank of Canada’s quarter-point cut to its key interest ... More
Canadian rent price growth slows to lowest level in 13 months
7/10/2024 | Posted in Rental Market by Paul DeAdder
In June, the average rent price in Canada rose 7% year-over-year, marking the slowest growth rate in 13 months.
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Economists say BoC could cut interest rates again in July if inflation keeps cooling
6/23/2024 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
Economists are forecasting inflation slowed further in May, which would be welcome progress for the Bank of Canada after it cut its key lending rate for the first time in four ... More
Ontario government sets 2025 rental cap for most units
6/28/2024 | Posted in Government and Regulation by Paul DeAdder
Ontario is holding the annual rent increase guideline for 2025 at 2.5 per cent. This is currently the lowest rate in the country and below the average inflation rate of 3.1 per ... More
TRREB: June Home Buyers Eying Further Interest Rate Relief
7/4/2024 | Posted in GTA Real Estate by Paul DeAdder
June 2024 home sales in the Greater Toronto Area (GTA) were lower compared to the same month last year, according to the Toronto Regional Real Estate Board (TRREB)
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2024 Re/Max Commercial Real Estate Report Highlights Key Trends
6/18/2024 | Posted in Commercial Real Estate by Paul DeAdder
The new report analyzed 12 markets nationwide in Q1 2024, identifying 13 key trends.
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6/25/2024 | Posted in First Time Home Buyers by Paul DeAdder
More than one-third of first-time homebuyers in Ontario are getting help with their down payment and the average gift now tops $100,000, according to a report from CIBC.
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Most Canadian renters can't afford to buy a home due to insufficient income
6/21/2024 | Posted in Home Buyers by Paul DeAdder
Many Canadian renters do not plan to purchase a home in the near future, with affordability challenges being a significant factor.
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Bank of Canada officials worry that rate cuts may overheat the housing market
6/19/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
The Bank of Canada’s top decision-makers expressed concerns before announcing this month’s interest rate cut, fearing that the rate relief could potentially ... More
Borrowers must adapt to 'new normal' of higher rates, says Macklem
6/16/2024 | Posted in Mortgage Interest Rates by Paul DeAdder
Interest rates may slowly start to be easing around the world, but they won’t be returning to pandemic levels and borrowers will need to adjust accordingly.
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Canadian Housing Activity Sees Another Quiet Month in May
6/17/2024 | Posted in Canadian Housing Market by Paul DeAdder
While May was another relatively uneventful month for many Canadian housing markets with national month-over-month home sales edging slightly lower and new listings moving only ... More
OSFI doubles down on keeping stress test for uninsured mortgage switches
6/13/2024 | Posted in Government and Regulation by Paul DeAdder
The head of Canada’s banking regulator stood firm in rejecting renewed calls to remove the mortgage stress test on uninsured mortgage switches.
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High Cost of Toronto Commercial Real Estate Stokes Suburban Activity
6/7/2024 | Posted in Commercial Real Estate by Paul DeAdder
While growing optimism has nudged some long-term developers off the sidelines with regards to land sales, there continues to be an overall impasse between buyers and sellers in ... More
