Tag: realtor
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Here are the GTA’s hottest neighbourhoods for bidding wars right now
Toronto’s real estate market is poised for a rebound in the latter half of 2024, as easing interest rates encourage previously hesitant buyers to re-enter the market. This resurgence is marked by the return of bidding wars, particularly in the Greater Toronto Area (GTA), signaling a significant uptick in competition and overbidding incidents across numerous…
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Canada to allow 30-year amortization for first-time buyers’ mortgages on new homes
In a move celebrated by housing advocates, the Canadian federal government has announced an extension of the amortization period for insured mortgages targeted at first-time homebuyers. This policy adjustment, declared by Finance Minister Chrystia Freeland in Toronto, aims to make homeownership more accessible amid escalating property prices and rents. Key Changes to Amortization Rules Starting…
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Here’s how much it cost to buy a home in Toronto in the 1960s
For many Toronto residents, the dream of homeownership has become increasingly elusive, a stark contrast to a time not so long ago when single-income families could easily buy a house in the city. A throwback advertisement that has resurfaced on social media highlights the dramatic rise in housing costs, showcasing a two-storey home from the…
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Canada’s CMHC Announces Termination of First-Time Homebuyer Incentive Program
The Canada Mortgage and Housing Corporation (CMHC) has announced the termination of its first-time homebuyer incentive program, effective immediately. The final deadline for new or revised applications has been set for midnight Eastern Time on March 21. Originally introduced to assist first-time homebuyers in reducing their monthly mortgage expenses, the program allowed the government to…
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80% of Canadian homebuyers chose down payments over marriage according to a recent report by Nesto Mortgages
In an eye-opening revelation, 80% of Canadians are now prioritizing saving for a house over spending on a wedding. This trend, highlighted by a study from 360Lending involving 1,000 participants, underscores a significant cultural shift towards valuing home ownership above traditional marriage ceremonies. The majority of mortgage applicants through Nesto, about 76%, identified as single,…
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Income needed to buy a home across Canada, according to RateHub’s February 2024 report
As we step into 2024, Canadians are witnessing a promising shift in the real estate landscape, presenting a potentially brighter horizon for aspiring homeowners. The beginning of the year has brought with it a gentle breeze of change, as both home prices and mortgage rates have seen a welcome softening in January. This shift, albeit…
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A new report has identified the Ontario cities where home prices have fallen the most
In the latest real estate market update, Ontario homeowners, particularly in Burlington, are experiencing a notable downturn in property values, making Burlington the most affected city in comparison to other Canadian locales over the previous year. This trend is highlighted in the recent Point2Homes report which analyzed condo and single-family home prices across Canada’s largest…
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Here’s how much Canadian home prices have changed in the last decade
Canada’s real estate market, particularly in Toronto, has witnessed a tumultuous decade, marked by an unusual combination of dwindling sales, fluctuating prices, and persistent overvaluation. Despite these challenges, home prices have continued their steep ascent, defying expectations and economic pressures. A recent report by Zoocasa offers a comprehensive look at this phenomenon, especially focusing on…
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Souqh is Shaking up Canada’s Real Estate Space
Toronto-based tech startup Souqh is making big moves in Canada’s real estate space. The platform has had a steady rise in the past months, thanks to a hot real estate market coupled great product. Souqh focuses on bringing a seamless experience to a really fragmented Canadian estate market. The platform aims to simplify the entire home ownership journey –…
Canada Housing Market 