"I can’t see how it can get much better,” says Jerome Trail, owner and broker of record at The Mortgage Trail. In case you’ve been living under a rock (or, well, not in a house you’re paying for), mortgage rates across the country are experiencing all-time lows. In fact, in early June, HSBC lowered its five-year fixed mortgage rate to 1.99%, becoming...
9 Ontario Regions Saw Annual Average Home Prices Rise Over $100K in June As most of the province prepares to enter Stage 3 on Friday, it’s clear that life is slowly starting attempting to return to normal. This is particularly true for the Greater Toronto Area housing market, which saw an impressive 83.8% month-over-month increase in activity in June, according to...
Now that most of the province has entered into Stage 2 of the government’s gradual reopening of the economy, things are starting to return to ‘normal’, including activity in the Greater Toronto Area (GTA) housing market, which is now showing a steady recovery after sales plummeted in April as a result of COVID-19 emergency orders. Today, Zoocasa released a report...
In another sign that the real estate market is continuing to heat up, it didn’t take long for Toronto home sales in June to surpass April’s record-low levels. Of course, bragging about having a better month than April 2020 – the worst April in the 25 years of TRREB sales records – is dangerous territory. But doing so in fewer than 14...
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The Clover Condos project at Yonge and Wellesley in Toronto is expected to be sold to another developer, leaving hundreds of frustrated buyers wondering whether they can afford to buy back the units they contracted to purchase as far back as 2016. Although a written order has not yet been issued, an Ontario Superior Court gave Concord Pacific until midday...
Cresford condo sites move toward potential sale, purchasers face uncertainty Months after three major Cresford condominium projects entered receivership, the process is underway to potentially sell the troubled developer’s sites. Last week, PricewaterhouseCoopers (PwC), the appointed receiver of the luxury new construction projects, filed a report with the Ontario Superior Court of Justice with a motion requesting the approval for...
Mortgage rates will remain at historic lows until 2022: BMO Sean MacKay May 15, 2020 With anxiety mounting throughout March as the economic impacts of the COVID-19 pandemic intensified, Canada’s central bank took swift action to slash interest rates at several points during the month. The cut announced by the Bank of Canada on March 27th meant that the overnight rate — which...
COVID 19 pandemic prompts urbanites to rethink ‘grand bargain’ of dense city living By Giuseppe Valiante – THE CANADIAN PRESS On May 15, 2020 MONTREAL – The densely populated slums of Montreal’s Griffintown were the subject of a famous 1897 study by businessman and philanthropist Herbert Ames, whose work on the disease-ridden tenements influenced generations of urban planners on how to develop...
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