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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

3 August 2018

Home sales and prices are growing in Toronto, while Vancouver shows another decline

Last month, housing sales in the Greater Toronto Area were up sharply from a year ago, while Vancouver cooled down again.

According to the Toronto Real Estate Board (TREB), home sales rose by 18.6% in the GTA on a year-over-year basis.

The average cost of the 6,961 sold homes was up by 4.8% annually and reached $782,129.

This increase follows a 2.4% hike reported in June sales. Meanwhile, May saw a significant sales decline by 22.2%.

2 August 2018

May economic growth raises odds of another rate hike this fall

As May economic performance turned out better than expected, the Bank of Canada now has more reasons to raise its key lending rate this fall. However, economists don’t expect it until October.

According to Statistics Canada, the economic growth reached 0.5% in May, supported by strong performances in domestic and export-oriented sectors.

Senior economist with RBC Economics Research, Josh Nye, says it exceeds the market forecasts by 0.2%. Moreover, as the monthly activity went up in 19 of 20 industries, it’s the most broadly-based growth in more than 10 years.

1 August 2018

Prices for recreational property in Canada are rising sharply

According to RE/MAX INTEGRA, the cost of recreational properties went up last month significantly from June 2017. The average price for this category (waterfront, non-waterfront, homes with water access and ski-in housing) rose by 13% on a year-over-year basis.

"In 2017, only 55% of regions faced retirees driving the market, while this year, it’s up to 91%”, - noted Christopher Alexander, executive vice president of RE/MAX INTEGRA in Ontario.

"As Canada’s senior population is the largest on record today, and many of them tend to use recreational properties for retirement purposes, the prices went up in most markets”, - he said.

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16 August 2018

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15 August 2018

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Variable or Fixed? What to chose today If your mortgage is up for renewal this year? According to CIBC, almost half of all current mortgages will nee...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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