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December 2019 Toronto Real Estate Market Report

Tuesday Jan 07th, 2020

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December 2019

Toronto Real Estate Board Reported December 2019 sales were up by 17.4 per cent year-over-year to 4,399 for GTA. Total sales for 2019 amounted to 87,825 up by 12.6 per cent compared to the decade low 78,015 sales reported in 2018. The number of new listings entered into TREB's MLS® System was down by 2.4 per cent year-over-year. The MLS® Home Price Index Composite Benchmark was up by 7.3 per cent on a year-over-year basis in December... [read more]

Market Stats For January 2018

Tuesday Feb 06th, 2018

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Toronto Real Estate Board announced that Greater Toronto Area REALTORS® reported 4,019 residential transactions through TREB's MLS® System in January 2018. This result was down by 22 per cent compared to a record 5,155 sales reported in January 2017. The number of new listings entered into TREB's MLS® System amounted to 8,585  a 17.4% increase compared to 7,314 new listings entered in January 2017. However, it is important to note that the level of new listings... [read more]

RBC, TD, CIBC RATE HIKES

Monday Jan 15th, 2018

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The Royal Bank of Canada raised its posted rate for a five-year, fixed-rate mortgage by 15 points to 5.14%, and TD also matched The Royal Bank’s new rate. CIBC’s five-year posted rate had been at 4.89% and when The Royal Bank and TD raised to 5.14%  CIBC hiked its five-year rate to 4.99% so that’s three of Canada’s biggest banks who have hiked the rate. Scotiabank is reviewing its rates and most likely will make changes. The Bank of Canada will announce the next... [read more]

Selling a home is very different from buying a home.

Wednesday Jan 10th, 2018

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  Buying a home generally involves feelings and emotions and selling a home is all about maximizing the potential profit. I would like to help you and your family by providing you a few tips on how to maximize the profits when selling your home. Price your home according to the current market conditions and for this, you should hire a reputable real estate agent who works in your neighborhood. Your agent will analyze a comparative market analysis also called CMA this will help you... [read more]

New Mortgage Rules Jan,1, 2018

Wednesday Nov 22nd, 2017

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New Mortgage Rules Starting Jan,1,2018. Non insured mortgage consumers (buyers with 20% or greater down payment) must now qualify using new minimum qualifying rate. The minimum rate will be the greater of the five year benchmark rate published by the Bank of Canada or the lender contractual mortgage rate +2%. This will impact the affordability for the homebuyer. For Example: (Current 2017) Mortgage Amount: $400,000 Mortgage Rate: 3.44% Monthly payment:... [read more]

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