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2180 Steeles Avenue West,
Suite 204, Concord,
ON, L4K 2Z5

Phone:     905-761-7001
Toll Free: 1855-761-7001
Fax:          905-761-7005

Email: mortgageadvisor@rogers.com





News
3 June 2019

New home sales in GTA skyrocketed by 123% in April

In April, the Greater Toronto Area saw a 123% annual sales increase of new homes.

The Building Industry and Land Development Association (BILD) says that, according to Altus Group, there were 3,853 new homes sold in the GTA in April, with 800 of them reported in the sector of single-family homes.

It’s a sharp increase from 433 sales seen in April, though it’s still 50% lower than the 10-year average.

In case of condos, the sales rose by 137% from a year ago to 3,053 homes – it’s 37% higher than the 10-year average.

 
31 May 2019

Canada shows the lowest economic growth in four years

During the first quarter of this year, the Canadian economy showed an annualized growth pace of only 0.4%, marking the lowest quarter result since 2015.

The revised GDP growth reached only 0.3% in the first three months of 2019, says Statistics Canada.

According to its recent report, it’s the weakest two-quarter growth since the economy was down in 2015, hit by a sharp oil prices decline.

Meanwhile, Thomson Reuters Eikon says economists predicted a 0.7% increase.

Statistics Canada believes the main reason for such a decline in Q1 was weak performance of net trade with imports growing by 1.9% and exports reducing by 1% for the first time since 2017.

 
30 May 2019

B-20 will cost the construction sector about $8 billion

The recent report says B-20 will lead to a $8 billion decline in the sector of new low-rise construction in 2019.

According to a Mortgage Professionals Canada, the investments in new home construction were down by 8% in the first quarter of 2019 compared to the average numbers of 2015-2017. The condo segment was especially hot since January 2018, when B-20 were introduced. Meanwhile, the low-rise sector was down by 25% in Q1.

Economist and the report’s author Will Dunning says the economic fundamentals remain strong and they can’t be the reason of such a drop.

“The construction activity should now be growing, and not reducing,” – he noted.

 
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News

24 June 2019

BMO believes there’s no need for the central bank to cut rates Certain industry specialists say the Bank of Canada should cut its key lending rate ag...Read more >>

21 June 2019

HELOC debts exceeded $300 billion for the first time in history According to the Office of the Superintendent of Financial Institutions (OSFI), ...Read more >>

20 June 2019

BMO CEO says low interest rates will remain for a long time According to the BMO CEO, Canadian consumers should be ready for low interest rates and i...Read more >>
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