Mandeep  Toor

Mandeep Toor

Broker of Record

OMAXE REAL ESTATE INC. BROKERAGE

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How much savings on a mortgage can be expected from the rate cut?

A quarter-percentage-point cut doesn’t translate into a major change in monthly mortgage payments. Someone with a $600,000 mortgage, 25-year amortization and a six per cent interest rate would save about $88 a month if the rate was 5.75 per cent.

Bank of Canada governor Tiff Macklem did say it’s “reasonable” to expect further cuts, but that the central bank is making its interest rate decisions one at a time.

Toronto-Dominion Bank is predicting the central bank will cut rates two more times by the end of the year to bring the benchmark to 4.25 per cent, while Canadian Imperial Bank of...

Interest rate cut unlikely to provide immediate relief for housing market.

The cut translates to reduced borrowing costs, but analysts stress that the real impact of the cut will unfold gradually

Author of the article: Shantaé Campbell Financial Post


In a move widely anticipated by economists, the Bank of Canada announced a 0.25 per cent interest rate cut Wednesday, and while the reduction is a step towards easing borrowing costs, industry experts caution that it will take time before any significant impact is felt in the housing market.

The decision to lower the benchmark interest rate to 4.75 per cent comes amid concerns about economic growth and...

What the Bank of Canada rate cut means for mortgages.

What the Bank of Canada rate cut means for mortgages.

If banks move their prime rate down, it will have an immediate effect on borrowers with variable-rate mortgages, just as they’ve felt the brunt of rising rates.

Those with a fixed-rate mortgage will not see their payments change until it comes time to renew their loans.

Fixed-mortgage rates are determined by what happens to the bond market, which, while also affected by Bank of Canada rate decisions, is based on overall investor confidence. The market had already largely priced in the rate cut.

 

 

Little change in Canada’s March housing market amid flat sales and prices — is a buyer’s market coming?

Courtesy of Nick Hill & Daniel Foch | REM | Apr 15, 2024 |

The Canadian housing market showed little change in March 2024, with home sales and prices remaining mostly flat. Sales activity recorded through Canadian MLS systems edged up by 0.5 per cent month-over-month but remained below the average of the last 10 years. 

The national composite MLS Home Price Index (HPI) also remained mostly unchanged, dipping by 0.3 per cent month-over-month. The report suggests that while there are expectations of a market pick-up this year, the current situation could be influenced by high interest rates...

Ontario embraces new client verification measures to combat fraud, enhance security in real estate.

Recent new client verification requirements for real estate lawyers in Ontario are good news for the industry, say experts.

Tim Hudak, CEO of the Ontario Real Estate Association (OREA), puts this into context: “Stories of homes being sold without the owner’s consent are extremely troubling – I cannot imagine coming home from a vacation and finding that your entire home has been illegally sold and taken away from you. My heart goes out to the honest, hardworking people who have dealt with this and had their trust and sense of security broken as a result.”

OREA supports identity...

Are you ready to start climbing the property ladder? This checklist will help you find out

Getting on earlier in life can put you on the fast track to a secure retirement.

If the 2000s have taught us anything, it’s that buying and holding a quality primary residence is a cheat code for tax-free equity gains.

Looking back at every 12-month span since 1980, home prices have risen an average of 5.78 per cent. That means, if you’re adequately qualified and financially fit, getting on the property ladder earlier in life can put you on the fast track to a secure retirement.

Of course, there are would-be market psychics who argue there’s too much price risk to buy right now. But I’ve...

Sell Your House In Caledon Real Estate Market.

By Mandeep Toor OMAXE Real Estate Inc.

Your tips for selling a house in Caledon are comprehensive and aligned with general best practices. However, there are a few additional considerations specific to the Caledon real estate market that you might find helpful:

  1. Understand Local Market Trends:

    • Stay informed about the current real estate trends in Caledon. This includes understanding the average time properties stay on the market, recent sales, and the demand for different types of homes.
  2. Highlight Caledon's Amenities:

    • Showcase the amenities and...

Sell Your House In Brampton Real Estate Market.

By Mandeep Toor OMAXE Real Estate Inc.

Your tips for selling a house in Brampton are comprehensive and aligned with general best practices. However, there are a few additional considerations specific to the Brampton real estate market that you might find helpful:

  1. Understand Local Market Trends:

    • Stay informed about the current real estate trends in Brampton. This includes understanding the average time properties stay on the market, recent sales, and the demand for different types of homes.
  2. Highlight Brampton's Amenities:

    • Showcase the amenities and...

Time Management

90% of time management effectiveness depends on:

the technique you use that suits you best.

With so many techniques available, it's obvious you can't use them all at once.

So here's a plan:

1. Analyze the challenges ahead:

One large project or many small tasks, Operational or creative tasks... and so on.

2. Then choose the method that will best help you succeed.

Steal this cheat sheet so everyone can find the time management technique that suits them perfectly.

Can first-time buyers save Canada’s real estate market?

Courtesy Of Daniel Foch FROM REM

Is Canadian real estate in recovery mode yet? Only time will tell, but this year is off to a decent start for those hoping that is the case.

Based on dollar volume (total value of all real estate sold), we just saw the third-strongest January on record. But, it’s still well behind the record-setting years of 2021 and 2022 — peaks we may never see again for many years:

 

Source: realist.ca, CREA

 

Recovery in sales but still under-average

 

The Canadian Real Estate Association (CREA) reports a recovery in home sales in early 2024, following a weaker second...

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