January Sales up Compared to December 2018

Toronto Real Estate Board (TREB) President Garry Bhaura announced that Greater Toronto Area REALTORS® reported 4,009 home sales through TREB’s MLS® in January 2019 – up by 0.6 percent compared to January 2018. Sales were up by 3.4 percent compared to December 2018. “It is encouraging to see the slight increase in January transactions on a year-over-year basis, even with …

Toronto Landlords Could Enjoy a Hike in Rents this Year

Toronto landlords with vacant units could enjoy as much as an 11% hike in rent this year. That’s according to Rentals.ca’s National Rent Report, which only studied empty units and also forecasted that rents nationwide would increase 6% in 2019. The research shows that renters’ preference remains for newer, lavish units, which typify condo rentals. The primary reason for the double-digit market rental hike …

Buying a home can be a very overwhelming experience, but if you are prepared and have contracted the right advisors, it can be a smooth and enjoyable process. What to do when you’re a first-time home-buyer: 1. Get pre-approved. Getting pre-approved for a mortgage is an important first step in the home-buying process. You don’t want to start house-hunting and …

Interest Rate Decision Announced by Bank of Canada

The Bank of Canada left its interest rate unchanged at 1.75% on Wednesday, January 9th, as the sharp decline in oil prices temporarily dims its economic outlook for the coming months. “The drop in global oil prices has a material impact on the Canadian outlook, resulting in lower terms of trade and national income,” the bank said in a statement. …

Canadians Want to Cut Their Debts in 2019

According to a CIBC poll, 1 in 4 Canadians are focussing on paying down their debts in 2019 as interest rates rise. Results of the survey found that 29% of respondents increased their amount of debt in 2018. This increase was due to the following: Day-to-day Items – 34% Purchasing a New Vehicle – 24% Paying for a Home Repair …

The Tradition of Painting Your Front Door Red — What Does it Mean?

A brightly coloured front door adds a fun pop of colour to any home and instantly gives it an extra touch of personality and curb appeal. One would assume that those confident homeowners happen to love that certain colour, and painting their entire home green, bright blue, or in this case red, would be just a bit too much. But, …

“I’m grateful for his patience and friendship.”

The experience was terrific. Leo always answered his cellphone or very quickly returned my calls. He made this adventure for me a very calm one. He answered all my questions, was very reassuring and listened to all my concerns. He knew what questions to ask, which answer to give and related to experiences which made me feel very comfortable. Leo …

How Much Are My Closing Costs Going To Be?

It is always a shame when you hear about someone having a huge financial surprise on the day of closing. On the day you are making the biggest purchase of your life, many forget to calculate all of the other expenses that are to be paid on closing. These expenses will not be rolled into your mortgage, so be sure …

Announcement from CMHC in Reference to Self-Employed Borrowers

Starting October 1, 2018,  it will be easier for the self-employed to qualify for a mortgage. CMHC just announced it’s giving lenders more guidance and flexibility to help self-employed borrowers. The move is designed to assist self-employed Canadians who may have a harder time qualifying for a mortgage as their incomes may vary or be less predictable. CMHC is providing examples of factors …