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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

4 May 2017

Ontario government doesn’t trust TREB’s data

When researching the same issue, the Toronto Real Estate Board (TREB) and the Ontario government seem to use different approaches, just like in case of the exact number of foreign real estate buyers in the GTA and their influence on the sharply growing home prices.

Ontario's Finance Ministry plans to keep to its promise and introduce a 15% tax for foreign homebuyers, even despite the recent report by TREB, pointing to a low level of foreign homeownership and speculation activity.

The report is based on sales data and the government property records. It says the number of buyers with a mailing address outside the country remains well below 1%. Moreover, most of them live in the U.S.

3 May 2017

Hot Toronto real estate market is taking a pause

Last month, Toronto’s real estate market showed certain signs of cooling down with the prices for low-rise houses falling compared to March. In addition to it, a new wave of listings raised the supply at the resale market.

In the same time, the prices kept growing on a year-over-year basis, reporting a 25% annual increase, says the Toronto Real Estate Board (TREB).

According to TREB, the average price for all housing types in the GTA reached another record high level of $920,791, marking a 24.5% gain from a year ago.

However, Toronto’s market also showed certain signs of a future balanced growth.

28 April 2017

Canadian economy didn’t expand in February

Canada’s economy didn’t show the necessary growth in February, as a small increase in the service sector wasn’t enough to exceed the decrease in the goods-producing sector.

According to Statistics Canada, the sectors of construction, housing, finance and insurance kept growing, while manufacturing, mining and oil and gas extraction reported declines.

The total economic output remained almost the same as in January - slightly more than $1.7 trillion, on an annualized basis. Although monthly comparison shows no changes, the national economy was up by 2.5% compared to February 2016.

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25 May 2017

Home Capital’s troubles are not widespread Recently, the CEOs of two largest Canadian banks noted that Home Capital’s liquidity problems shouldn’t b...Read more >>

24 May 2017

Bank of Canada doesn’t change its interest rate once again On Wednesday, the central bank decided to keep its key lending rate unchanged again, makin...Read more >>

23 May 2017

A 10% hike of mortgage payments would be a problem for most Canadian borrowers According to a new poll by Manulife Bank, almost three quarters of Can...Read more >>
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7676 Woobine Avenue Suite 300 Markham, ON L3R 2N2
2180 Steeles Avenue West, Suite 204, Concord Ontario L4K 2Z5
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