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Canadian Real Estate Prices Hit New High. Is Densification the Solution?
Just when you thought the price of Canadian real estate couldn’t get any higher, the latest data show the market continues to defy expectations – and gravity. Industry experts see no end to rising prices, in the face of growing demand and the ongoing housing supply shortage.
House hold debt-to-income ratio hits record high
Statistics Canada says household debt-to-income ratio hit record high in Q4
OTTAWA - Statistics Canada says the ratio of household debt to disposable income hit a record level in the fourth quarter as mortgage borrowing rose and disposable income fell.
Rethinking a Variable Rate Mortgage in the Face of Hikes
For a long time, it was a common ideology that a variable rate mortgage was ideal when purchasing a home. The thought process was based on the theory that if the rate drops, you’ll be able to reap the benefits of lower interest payments as opposed to someone who is in a fixed-rate mortgage.
Do Staged Homes Sell Faster?
Do staged homes sell faster, and for a higher price? The short answer is yes and yes. Even in a hot seller’s market, smart sellers seek out ways to give themselves an advantage. This includes engaging an experienced, professional real estate agent, evaluating market demand and comparables, setting the right price, and then staging the property to appeal to the biggest pool of buyers.
How to Use Your RRSP to Maximize Your Down Payment
Saving a down payment for a house can be a daunting task. In this day and age, it can take years to save up enough money to afford a home, depending on various personal and economic factors. However, the Canadian government has created a Home Buyers’ Plan program, which allows first-time homebuyers to withdraw up to $35,000 from their Registered Retirement Savings Plan (RRSP) to increase their down payment.
Can Rising Interest Rates Help Canadian Real Estate Affordability?
Well, it happened. The Bank of Canada (BoC) finally raised interest rates. The question now is what impact higher rates will have on the sizzling Canadian real estate sector.
How Much Can a Renovation Add to Home Value?
Spring is right around the corner, and you may be thinking about making some home improvements. You love your home, but perhaps you want something a little bigger, or a little nicer. A renovation can get you there. At the same time, remodelling certain areas of your current home may lead to a higher value when you’re ready to sell.
7 Key Home Renovation Mistakes to Avoid
Renovating your home is an enormous undertaking, no matter how lavish or understated your vision. It takes plenty of time and money to bring your dreams to life when it comes to home remodelling. To get the most out of your project, we’ve compiled a list of the key home renovation mistakes to avoid.
Toronto Regional Real Estate Board Market Update February 2022
February home sales were down compared to the all-time record in 2021, but represented the second-best result for the month of February in history. New listings dropped, but by a marginally lesser annual rate than sales, pointing to a modest move to a slightly more balanced market. Competition between buyers, however, remained tight enough to support double-digit price growth year-over-year.
Bank of Canada Raises Interest Rate to 0.5% on March 2
The Bank of Canada has raised its key interest by 25 basis points in this morning’s announcement, to 0.5 per cent. This is the first in an expected series of increases slated for 2022, as Canada comes out of the pandemic and the economy continues its recovery. This is also the first time the Bank has increased its benchmark rate since October 2018.