Merry Christmas 🎄 from my family to yours! Speed read – TL;DR: ⚡November sales are down 49.4%, new listings are down 11.6%, the average price is down 7.2%, similar numbers for the last 3 months. ⚡BoC increased the interest rate by another 0.5% to 4.25% on Dec. 7. ⚡ Bill 23 is now passed – what you need to know! ⚡ …
Last update Dec 12, 2022 Update: Bill 23 was passed by the Ontario legislature on November 28. More Homes, Built Faster Act was passed by the Ontario legislature on November 28 and was done fairly quickly. This is the Ontario government’s plan to build 1.5M homes in the next 10 years. Many local municipalities are against this provincial act. One …
GTA Market Stats Highlights The October numbers are a continuation of the August and September numbers. The biggest drop has already happened. Even with the rate hike in September and October, the market didn’t stray from the trend we have seen in the past few months. Sales are down 49.1%, and new listings are down 11.6% down year-over-year. That’s the …
Fun facts about me: I was born in Scarborough and moved to Mississauga when I was five years old, lived and grew up around the Streetsville area, and currently I live in the Square One area with my wife Claire and our cat Alba. So I too live, work and play in Mississauga! History of Mississauga Mississauga is Canada’s 7th …
Mississauga has been ranked as the safest city in Canada for many years. The city has many amenities for all its residents. There are 11 Community Centres located throughout the city, along with city-run facilities such as arenas, swimming pools, fitness centres, golf courses, tennis courts, baseball diamonds, soccer pitches and much much more. Mississauga has over 500 parks and …
September is the start of the fall market. With our 5th interest rate increase in 2022 on Sept 7, the market numbers are out! Sales are down almost 46% from last year, and average prices are down 0.5% in Mississauga. We may see more interest rate increases in October and maybe December. Inflation looks to be heading in the right …
Home prices have dropped by $400k since February and here’s why you should upsize now. If you’re trying to time the market, how do you know when you should jump in? Interest rates have been going up and are expected to continue to go up some more. Prices have been dropping and are expected to continue to cool down some …
What is Mortgage trigger rate? A trigger rate is when your interest portion exceeds your mortgage payment. It only applies to variable-rate mortgage holders that are on a fixed payment schedule. Calculate your trigger rate is to use the following formula: (Payment amount X # of Payments per year / Balance owing) X 100 = Trigger rate in per cent. …
After I bought my first house at the peak in 2017, I watched the price drop by $100k within weeks of getting the keys. Buying real estate can be a stressful time, it’s a lot of money, a huge investment, if you’re like me, all of your life savings. The market can change on a dime and that can cause …
Are We At The Bottom of The Market? The GTA Real estate market has had quite the ride in 2022. From historically low interest rates that caused an ultra hot seller’s market, and the 4 interest rate hikes since March and now a 5th, 0.75% increase, have really raised the cost of borrowing to the point of bringing the real …
