Mandeep  Toor

Mandeep Toor

Real Estate Broker

RE/MAX Realty Specialists Inc., Brokerage *

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COVID-19 Real Estate News Roundup

Week of March 23 – 27, 2020

The impact of the COVID-19 virus continues to have widespread implications for individuals, businesses, and industries; as many face the loss of employment and income, the ability to pay for rental or homeownership costs has become a pressing issue. Here, we’ll be sharing the latest updates for renters, homeowners, and the real estate industry, as the health crisis develops.

Bank of Canada Cuts Rate to 0.25% In Emergency COVID-19 Measure

The Bank of Canada (BoC) has made another unscheduled rate cut, slashing its Overnight Lending Rate by 50 basis points from 0.75% to 0.25% – the lowest it has been since April 2009 – as further response to the COVID-19 pandemic and its impact on the Canadian economy. It is the third rate cut the BoC has made in March, slicing a total of a percentage point from where it stood in February.

New Mortgage Rules On It's Way

Do I Need a Real Estate Agent When Buying Pre-Construction?

Buying any home can be both costly and complex, and it’s always advisable to thoroughly understand your purchase agreement. However, this can be trickier when purchasing a pre-construction property, which is something naive buyers may be unaware of.

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