Category: Uncategorized
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Canadian Inflation Drops to 1.6% in September – A Big Rate Cut Might Be Coming
In September, Canada’s inflation rate dropped to 1.6%, the lowest it’s been since February 2021. This decrease is mainly due to falling gas prices and is raising hopes that the Bank of Canada will cut interest rates to help boost the economy. Many economists are now predicting that at the Bank of Canada’s next meeting…
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Average Rent for a 2-Bedroom Apartment in Toronto Could Soar to $5,600 by 2032
Toronto’s rental market is set for a significant price surge, with predictions pointing to a staggering 72% increase in rent by 2032. A recent study from Concordia University forecasts that average two-bedroom rents in Toronto could reach $5,600 per month by 2032, a sharp rise from the current rates. In the nearer future, rents are…
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How much it costs to rent in Canadian cities right now
Rentals.ca just launched their October 2024 Rent Report and here’s everything you need to know. In September 2024, average asking rents across Canada for all residential property types saw a modest 2.1% increase year-over-year, reaching $2,193. This marks the smallest annual rent increase since October 2021, highlighting a slowdown in the rapid rent growth we’ve…
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Can Ontario Landlords Ban Pets? Know Your Rights as a Renter
Renting a home in Ontario is tough enough, but it gets even more challenging when landlords add ‘no pets’ clauses to rental agreements. Many renters believe these clauses are legally binding, but here’s the truth: in most cases, these rules are unenforceable. Ontario’s Residential Tenancies Act (RTA) Protects Renters with Pets Under Ontario’s Residential Tenancies…
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Here’s how long you need to save to afford a home in Ontario
As home prices continue to soar across Ontario, the prospect of homeownership becomes increasingly elusive for young renters. Despite a strong desire to own a home, many face daunting timelines—spanning years or even decades—before they can save enough for a down payment. A new study by real estate marketplace Point2Homes highlights this challenge, revealing that…
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Canadian government announces boldest mortgage reforms in decades and here is everything you need to know
The Department of Finance Canada has rolled out some big changes to mortgage rules, aiming to make it easier for Canadians, especially Millennials and Gen Z, to buy their first home. Starting August 1, 2024, new mortgage regulations now allow 30-year insured mortgage amortizations for first-time buyers purchasing new builds. Key Mortgage Reforms You Should…
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Toronto Mall To Be Transformed into 6 Billion Dollar Urban Neighborhood
Toronto’s Cloverdale Mall is on the brink of a massive transformation that will reshape the shopping center and its surrounding lands into a $6 billion vibrant urban community. This ambitious redevelopment has been in the planning stages since 2020 and has recently gained significant momentum with the launch of marketing for the community’s flagship building.…
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Ontario sees huge surge of people not paying their housing and other bills
Even with interest rates starting to drop, people in Ontario are still struggling with a growing affordability crisis, especially when it comes to finding affordable housing. Recent numbers show that the financial pressure on residents is increasing as the cost of living rises. Ontario’s mortgage debt reached a record high, going over $1 billion by…
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Bank of Canada Lowers Key Interest Rate to 4.25% Amid Slowing Inflation
The Bank of Canada has reduced its benchmark interest rate for the third time in a row, bringing the rate down to 4.25%. This decision, announced on September 4, 2024, reflects the central bank’s response to cooling inflation and growing concerns about economic growth. The widely anticipated quarter-percentage-point cut follows a series of interest rate…
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Bank of Canada Expected to Cut Interest Rate Wednesday September 4, With More Reductions Likely to Follow
On September 4, the Bank of Canada is widely expected to deliver its third consecutive interest rate cut as inflation continues to cool on both sides of the Canada-United States border. This move aligns with market expectations, which also anticipate the U.S. Federal Reserve to begin its own rate-cutting cycle later this month. Derek Holt,…
Canada Housing Market 