Laura Garetson
Toronto Toronto, ON, Canada

Demand for housing and low interest rates have been pushing prices upwards across Canada, especially throughout Ontario . We are hearing rumours that the Bank of Canada may implement some new measures to 'cool' activity, just hopefully not at the expense of first-time homebuyers. MORE NEW SUPPLY is what we desperately need! https://toronto.ctvnews.ca/toronto-home-sales-up-97-per-cen

No change in the Prime rate today, and none are expected until 2023! "The bank says its key policy rate will stay...until the economy recovers and inflation is back at its two per cent comfort zone, which it doesn't see happening until 2023." https://financialpost.com//bank-of-canada-keeps-rate-at-ro

Yes it's true! Cottages and second homes can have as little as a 5% down payment. Homes under $1M require less than 20%.

No change to the Prime rate today. The Bank of Canada has also left the door open for a possible further decrease, while still maintaining we won't see a rate increase for quite some time. It's a popular time to refinance for a lower interest rate! Feel free to reach out at any time to see if it makes sense to break your mortgage. https://www.cbc.ca//business/bank-of-canada-rate-decision-

The Bank of Canada doesn't have any plans to move interest rates in the near future! https://www.canadianmortgagetrends.com//bank-of-canada-re/

With lower interest rates comes a break in 'qualifying' as well! This is a great time to consider refinancing your mortgage for a lower rate/payment. Reach out any if you'd like to talk about your options! [email protected] https://www.cbc.ca//business/mortgage-stress-test-1.5684685

The Toronto market has picked right back up! https://www.bnnbloomberg.ca/toronto-home-prices-spike-to-re

It seems not all mortgage insurers will follow CMHC's new qualifying guidelines. This is good news so far for buyers with less than a 20% down payment! http://investor.genworthmicanada.ca//Genworth/default.aspx

The spring real estate market got off to a slow start but as of July its been on fire! https://www.mortgagebrokernews.ca//redhot-toronto-real-est

From my perspective this headline and article are (sadly) very accurate. I don't think we're in imminent danger of a home equity tax (right now we don't pay capital gains on our principal residence), but it illustrates how the government is looking outwards instead of inwards at their own efforts to control pricing by limiting purchasing power. We need more supply! https://financialpost.com//government-is-why-housing-in-ca

"Prospective homebuyers were reassured that interest rates will remain near historic lows for a long time, according to Bank of Canada Governor Tiff Macklem. Observers say that implies the Bank has no plans to start raising rates until at least 2023. https://www.canadianmortgagetrends.com//bank-of-canada-hi/

No change in the Prime rate today. Despite uncertainty nationally, Toronto's real estate market remains hot! https://www.ctvnews.ca//bank-of-canada-holds-key-interest-