DC Home Mortgages

04/04/2022

https://oakvillenews.org/oakville-business-news/cracking-down-on-foreign-real-estate-speculation/

On March 30, 2022, the province expanded the non-resident speculation tax provincially and increased it from 15% to 20% to provide less competition for resident buyers. But will it work?

03/29/2022

The Canada housing market is showing signs of cooling off as interest rate hikes and buyer fatigue sets in.

03/28/2022

The next interest rate announcement in April is fast approaching... Some experts think we could be looking at a .50% increase in April!

Hawkish talk from a senior Bank of Canada official is leading the market to believe that a half-point hike is in the cards next month.

03/21/2022

https://www.canadianmortgagetrends.com/2022/03/big-banks-hike-mortgage-rates-again/
Here are some forecasts from the major bank of the upcoming rate hikes! As we have been saying for months it is time to look at your budgets and plan accordingly!

Most big mortgage lenders, including all of the Big 6 banks, have hiked fixed rates once again over the past several days.

03/15/2022

It doesn't matter if you own or rent... This is NOT a good sign.. Tenant willing to offer 1 year advance payment....

'People who are relying on tenancies… are competing with people who have sold their houses,' says Barrie real-estate agent

02/10/2022

Average detached home in Hamilton was surpassed 1M.... Up rom 595K at the beginning of 2019.... Although the increase in value/equity is great for some people... It makes life extremely hard for new home buyers.

New data from the Realtors Association of Hamilton-Burlington (RAHB) shows the average price for residential properties in Hamilton, Burlington, Niagara North and Haldimand County during January 2022 was $1,058,756 — a record high.

02/09/2022

Bank of Canada says Toronto market is not in a bubble.... They expect values to continue to increase over 2022. And talking even further into the future they can't see the inventory catching up with the demand.

The Vancouver and Toronto housing market has been sizzling during the pandemic housing boom. Despite a tepid slowdown in the first couple of months of the COVID-19 public health crisis, both cities have been soaring ever since. The word "bubble" has been widely used by the media when reporting

02/08/2022

A good article going over some of the many reasons why equity isn't enough to ensure you get a refinance with your institution. Call a mortgage broker to help navigate through these waters!

There’s more to refinancing your mortgage to consolidate debt than having a lot of home equity. Explore all of your options before borrowing more money.

02/07/2022

Economists at TD are predicting higher wage growth in Canada. It couldn't come at a better time... Wage's in Canada have been stagnant for years. And with the recent burst of inflation and ridiculous cost of living in Canada we need it more than ever!

A new report from TD Economics suggests the Canadian economy might not have to wait much longer to see wage growth pick up.

02/04/2022

Regulators at OFSI think some markets could come down as much as 20% as rates start to rise... Keep in mind that homes have almost come up 20% in a couple months. So even with that decrease homes would almost certainly be higher than were they were a year ago.

Read the full story and comment on CityNews Ottawa

02/04/2022

Average price of a condo in Toronto is now 740K. Up from 600K 2021. 400K in 2016..

Condo prices continue to rise in Toronto, similar to pretty much everything else lately, as more and more potential homebuyers look up to the sky f...

02/02/2022

https://www.kelownanow.com/news/news/National_News/Budget_officer_suggests_feds_foreign_homeowner_tax_to_yield_less_than_Liberals_plan

The parliamentary budget officer is estimating that a new federal tax on vacant, foreign−owned properties may not bring in as much as the Libera.