For my opinions on the local real estate market and lots of helpful tips for home buyers and sellers, please visit my blog. I value your feedback and your input, so please feel free to comment on my blog posts.
RISING MORTGAGE RATES UNLIKELY TO SLOW DOWN HOT TORONTO HOUSING MARKET
By TESS KALINOWSKIReal Estate Reporter ; thestar.com ; Jan17,2018
Demand for homes is so strong that high rates and new lending rules will likely affect only a handful of consumers
A booming Canadian economy has prompted the Bank of Canada to hike its lending rate a quarter of a point for the third time since last summer.
In the near-term, it will likely mean some belt-tightening among those with variable rate mortgages and lines of credit, and with more increases expected, some consumers will be scrimping further as the year goes on.
But the demand for housing in the Toronto region remains so strong that the higher mortgage rates aren’t expected to have a big impact on home sales.
The Bank of Canada’s move to ...
Toronto home price gains to beat other Canadian cities next year: Royal LePage
FINANCIAL POST ; December 13, 2017
Prices to rise almost 7%, beating Vancouver, Montreal and the national average
TORONTO — New stricter mortgage rules are expected to slow the housing market next year, but prices are still expected to rise about five per cent, according to a report by Royal LePage.
In its market survey forecast, the real estate firm says its house price composite, which measures prices in 53 Canadian cities, is expected to increase 4.9 per cent next year to $661,919.
A new stress test for homebuyers who don’t need mortgage insurance will be required starting next year.
The new rules are ...
NAFTA Renegotiation: Canada can safely walk away from an unfair deal
By SCOTT SINCLAIR , May 10, 2017 ; thestar.com
It just so happens there are ways to redo or replace NAFTA to make it a better deal for workers in all three countries.
The Trump administration is not making it easy to predict what a NAFTA renegotiation will look like for Canada.
On the one hand are demands from the U.S. president for a “fair” new framework for North American trade that puts American workers first. On the other are suggestions from Trump’s commerce secretary, Wilbur Ross, that the significant concessions Canada and Mexico made in the defunct Trans-Pacific Partnership — a decidedly unfair deal — are an obvious starting point for NAFTA 2.0.
While this is a difficult situation, Canada ...