Mandeep  Toor

Mandeep Toor

Broker of Record

OMAXE REAL ESTATE INC. BROKERAGE*

Mobile:
416-731-7774
Office:
905-846-6666
Email Me

Hire Top Class Real Estate Agent Who Will Invest In Your Future

Mandeep Toor's blog

Canadian housing market shows signs of revival in June following interest rate cut.

 | Jul 17, 2024 |

Canada’s housing market finds itself, as of June, poised for a comeback after a challenging year. The trigger? A strategic interest rate cut by the Bank of Canada, leading to a 3.7 per cent rise in national home sales compared to May. After months of declining activity, the market is showing signs of life, but the road ahead is filled with uncertainties and hardship for both industry professionals and buyers and sellers alike.

But will this interest rate cut be enough? Is it the start of a cutting cycle? Will it get worse before...

Your Home Search, Your Terms. Install the free App

Your Home Search, Your Terms!

Tired of waiting for real estate agents to send you listings? Now, you can take control of your home search with our new app!

Search for your dream home at your convenience:
Filter by house type, price, area, and more
Get instant market evaluations whether buying or selling
Stay updated on property values with ease

Download now and start your search on your own terms!

Apple App Store
Google Play Store

Your code to install:
goagent.ca/2FE45ABF

Don’t wait – click the link and get started today!

Your Home Search, Your Terms!

Tired of waiting for real estate agents to send you listings? Now, you can take control of your home search with our new app!

Search for your dream home at your convenience:
Filter by house type, price, area, and more
Get instant market evaluations whether buying or selling
Stay updated on property values with ease

Download now and start your search on your own terms!

Apple App Store
Google Play Store

Your code to install:
goagent.ca/2FE45ABF

Don’t wait – click the link and get started today!

The Bank of Canada's growing list of worries

 

Rate cuts are coming, but can they help Canada's economy avoid the many risks ahead?

The Bank of Canada says progress is being made, but that risks to the forecast remain a concern (Benoit Roussel/CBC)

Courtesy of: Peter Armstrong

Senior Business reporter for CBC News. A former host of On the Money and World Report on CBC Radio, Peter Armstrong has been a foreign correspondent and parliamentary reporter for CBC. Subscribe to Peter's newsletter here: cbc.ca/mindyourbusiness Twitter: @armstrongcbc

For months, the Bank of Canada has been trying to thread a needle: slow the economy just...

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...

Syndicate content

Have Questions?

I agree to receive marketing and customer service calls and text messages from OMAXE REAL ESTATE INC. BROKERAGE*. Consent is not a condition of purchase. Msg/data rates may apply. Msg frequency varies. Reply STOP to unsubscribe. Privacy Policy & Terms of Service.