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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

8 September 2015

Economists don’t predict any rate change by the Bank of Canada tomorrow

The central bank isn’t expected to change its key lending rate this Wednesday due to better economic results recently.

In the same time, economists believe the on-going oil prices decrease and worries on the global markets concerning the Chinese economy may strengthen the Bank of Canada’s concerns.

The deputy chief economist at CIBC World Markets, Benjamin Tal, plans to watch the BoC’s official announcement closely.

7 September 2015

Happy Labour Day!

As you know, Canada celebrates Labour Day on the first Monday of September. The holiday was initially an opportunity for workers to campaign for improving their working conditions or increasing their wages. Today, it’s a part of a longer weekend for most Canadian citizens.

In the beginning, Labour Day was a chance to campaign and agitate for workers' rights during trade unions parades and picnics. For some Canadians it’s still an important part of this day. However, most of them consider it a great possibility to take a summer trip, maybe to a country cottage, or just spend more time with friends and relatives at fairs, picnics and festivals. In case of youth, it’s a chance to take a small trip and party before the academic year begins.

On Labour Day, post offices, many organizations and educational establishments are closed. Usually, public transport services switch to a Sunday schedule, while others may not work at all.

4 September 2015

Toronto red hot housing market is not slowing down

Last month, Toronto’s real estate market hardly showed any signs of an activity decline. According to the Toronto Real Estate Board (TREB), home sales in the Greater Toronto Area were up by 5.7% in August from the same month last year. In addition to it, the average price for all housing types rose by 10.3% and reached $602,607. In case of a detached house in Toronto, the average cost went up by 13% year-over-year and exceeded the $1-million level.

TREB’s President Mark McLean said there were 7,998 residential sales reported by the Greater Toronto Area REALTORS® through the TREB MLS® System last month. It’s 5.7% higher than 7,568 sales seen in August 2014. GTA showed sales increases in all main home types.

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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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