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How to Approach Your Mortgage As Interest Rates Rise
Albert Einstein called compound interest the “most powerful force in the universe.” Mortgage interest is like its opposite — it’s a black hole that sucks in more (and more) money as it grows.
Bank of Canada to Follow U.S. Fed’s 0.75% Hike in July
Turns out, a half-point interest rate hike isn’t all that extraordinary; following the U.S. Federal Reserve’s move to increase its Federal Funds rate by 0.75% on June 15th — the largest since 1994 — expectations are now solidifying for the Bank of Canada (BoC) to follow suit, further amping up borrowing costs for consumers.
Non-Resident Speculation Tax
Effective March 30, 2022, the Non-Resident Speculation Tax (NRST) rate was increased to 20 per cent and expanded provincewide. As a result, the NRST may apply on the purchase or acquisition of an interest in residential property located anywhere in Ontario by individuals who are foreign nationals (individuals who are not Canadian citizens or permanent residents of Canada) or by foreign corporations or taxable trustees.
Historic Lack of Inventory Pushes Housing Market Affordability to Worst Level in 31 Years
Temperatures may be dropping outside, but Canada’s housing market remains red-hot.
Mandeep Toor November Real Estate News Letter
Mandeep Toor November Real Estate News Letter
What to Watch for when Viewing an Older Home.
Buying an older property definitely has its advantages. The neighbourhood will already be well-established, so you’ll be able to get a sense of the community. The trees will be grown. The area will have a defined character. This combination of an older home and established community may be something you like, or even love.
However, when you’re viewing an older home for sale, there are a few extra things you need to be sure to check. Here are the most important:
Needed replacements. Nothing lasts forever. In any home, there are items that will eventually need to be replaced. The most...
Empty lot at major Brampton intersection being turned into hub of commerce.
An empty lot on the southwest corner of Hurontario St. and Sandalwood Pkwy. will soon be a hub for innovative logistics, transportation and distribution.
Pure Industrial recently acquired the 28-acre parcel of land and intends to build more than 600,000 sq.-ft. of leasable area.
“We are pleased to be able to convert this site, which has been vacant for decades, into a hub of commerce and job creating activity at one of Brampton’s most important intersections,” said David Owen, Pure’s chief operating officer.
“Focused on the growth in e-commerce, Pure is providing logistical solutions that...
Mississauga, Brampton and GTA home sales down 13% between April and May but prices still rising
The frenzied pace of home sales that appeared at the start of the year is continuing to slow as new figures from the Toronto Real Estate Board show 13 per cent fewer homes in the region changed hands between April and May.
The second-largest country in the world is running out of land.
The Close The housing market won't cool until BoC raises rates: Mortgages of Canada CEO
Canadian home sales fell in April by 12.5 percent after reaching record highs in March. Samantha Brookes, CEO of Mortgages of Canada, joins BNN Bloomberg to provide her reaction and discuss where she sees the housing market headed.
Canada’s housing market is running hotter than just about anywhere else in the world.
But despite the anxiety about irrational bidding wars and fears of the bubble bursting, what's fundamentally driving it is a worsening imbalance between supply and demand: Buyers want large...