REALTOR with Re/Max Realtron Realty Inc, Newmarket
Bank of Canada’s Overnight Rate On December 9, the Bank of Canada maintained its target for the overnight benchmark rate at 0.25% As was widely expected, the Bank of Canada has maintained its key interest rate target at 0.25% after aggressively cutting it earlier this year in response to the global pandemic and its economic aftershocks. While a COVID-19 …
Continue reading “Bank of Canada Makes Interest Rate Announcement”
The COVID-19 pandemic shook the Canadian (and global) economy, causing business closures and job losses across many industries. But the public health crisis has failed to drive a stake through the Canadian real estate market – so far. Despite a slowdown at the height of the pandemic earlier this year, the nation’s housing sector has …
Continue reading “Will Canadian Real Estate Prices Cool This Winter?”
Buying a home is a huge commitment and one of the biggest financial investments you’ll ever make. If you’ve never done this before, you can expect to get hit with a barrage of real estate terms and jargon that might leave your head spinning. Your RE/MAX agent is there to guide you through the process, but for the keeners …
Continue reading “Real Estate Terms: RE/MAX Homebuyer’s Glossary”
The federal government has announced changes to the OSFI mortgage stress test in 2020, which will make qualifying for a mortgage easier. However, experts expect that the changes will have little impact on housing affordability in Canada’s most-active and expensive markets. Starting on April 6, the Department of Finance will employ a new method of calculating a borrower’s qualification …
Continue reading “Mortgage Stress Test Changes Won’t Fix Affordability Problem”
Average home price expected to rise by 3.7% next year • Increased consumer confidence could be a key factor affecting the housing market in 2020• 51% of Canadians are considering a home purchase in the next five years, up from 36% at the same time last year• Only two in 10 Canadians say that the …
Continue reading “RE/MAX releases Canadian housing market outlook for 2020”
It seems average Canadians tend to keep their heads in the sand when it comes to the economy. Perhaps it’s not even so much keeping our heads in the sand, as it is just not paying attention to what’s happening. Ask the average person what’s happening on a global level and they’ll probably just shrug. …
The original article link : https://blog.remax.ca/breaking-down-the-housing-debate/ Author: Christopher Alexander, Executive Vice President and Regional Director, RE/MAX INTEGRA, Ontario-Atlantic Canada The 2019 federal election is fast approaching, and the housing debate continues to be a hot topic in the country. A national housing strategy that’s assessed annually and updated based on economic markers and buying trends …
