Uncategorized

ADVISORY FROM TARION TO HOMEOWNERS AND BUILDERS ON COVID-19 PANDEMIC: PRE-DELIVERY INSPECTIONS AND DELAYED CLOSINGS FOR THE PERIOD OF MARCH 16 TO APRIL 13

ADVISORY FROM TARION TO HOMEOWNERS AND BUILDERS ON COVID-19 PANDEMIC: PRE-DELIVERY INSPECTIONS AND DELAYED CLOSINGS FOR THE PERIOD OF MARCH 16 TO APRIL 13 The health and safety of our people, homeowners, builders, and others is a top priority for Tarion. At the present time, health authorities are encouraging individuals and businesses to take measures to reduce interactions to help...

Uncategorized

Coronavirus: Ontario’s latest electricity measures leave out hundreds of thousands of customers

Ontario’s ban on disconnecting electricity during the COVID-19 pandemic does not apply to roughly 325,000 residential and small business customers in the province. The Ontario Energy Board (OEB) recently prohibited all electricity distributors in the province from disconnecting power because of non-payment until at least July 31. But anyone who receives an electricity bill from a submetering company — such...

Uncategorized

Canada’s economy has taken a hit like never before — here’s what four top economists say will happen next

The waves of catastrophic economic news have been relentless and staggering. More than $1 trillion wiped from Canadian stocks in a month. A record 500,000 workers applying for employment insurance in a single week. Businesses abruptly shuttered. Airlines suspended. Factories closed. The largest autoworker mass layoff ever. Whole sections of the economy ground to a halt and a global recession...

Uncategorized

CORONAVIRUS – Ontario releases list of essential workplaces and services

The Government of Ontario released the list of essential workplaces and services on Monday night. Premier Doug Ford announced on Monday afternoon the shutdown of all non-essential services across the province in an effort to slow the spread of COVID-19. Ford has ordered that all non-essential businesses shut their doors starting at 11:59 p.m. Tuesday. The closures will last for at least...

Uncategorized

Should you refinance your mortgage? Rates could plummet below 2%, experts say

Dropping interest rates could provide a small dash of consolation for some consumers sitting in isolation watching their retirement plans plummet with the markets. For those with variable loans, renewing mortgages or considering refinancing, interest rates could indeed offer a measure of good news, according to mortgage specialist James Laird, co-founder of RateHub.ca and president of CanWise Financial. “If you’re...

Uncategorized

Liberty Village condo board defers maintenance fees for residents to ease anxiety

A Liberty Village condo is giving its residents a little breathing room at an economically uncertain time, offering them the option of deferring their April maintenance fees. Craig Gagliano, president of the board at the Toy Factory Lofts, hopes other condos will follow suit. It’s a way of ensuring residents’ homes remain a haven amidst anxiety about incomes and the...

Uncategorized

Coronavirus: Canada’s big banks to allow mortgage payment deferrals

Canada’s big six banks will allow mortgage payment deferrals for up to six months as part of extraordinary measures to help customers struggling with the financial impacts of the novel coronavirus pandemic. In a tweet on Wednesday morning, Neil Parmenter, president of the Canadian Bankers Association, said the measures are “effective immediately.” RBC, TD, BMO, Scotiabank, CIBC and National Bank...

Buyers, Sellers

Bully bidders run rampant in Toronto’s housing market as prices escalate [The Globe and Mail]

Bully bidders run rampant in Toronto’s housing market as prices escalate FRED LUM/THE GLOBE AND MAIL Real estate agents in Toronto and the surrounding suburbs say rapidly escalating house prices are pushing some buyers onto the sidelines and forcing others to change strategies. They’re also watching to see if the spread of the coronavirus will change the market dynamics. For...

Uncategorized

Borrowing to buy a house? Mortgage rates to fall following Bank of Canada rate cut [The Star]

Borrowing to buy a house? Mortgage rates to fall following Bank of Canada rate cut By Michael Lewis  Business Reporter Thu., March 5, 2020 Variable rate mortgage holders are the big winners from the Big Six banks’ moves to match the Bank of Canada’s 50 point reduction to its trendsetting interest rate. According to rate comparison website RateSpy.com, variable rate customers will...

SUBSCRIBE

get latest news & updates to your inbox