Market Update

Market Update

After 10 Interest Rates Increases, We now are on our 2nd decrease to 4.50%

Monetary Policy Decision The Bank of Canada today lowered its policy interest rate by 25 basis points. The overnight rate target is now 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank will continue to normalize its balance sheet. Global Economy Global economic growth is projected to remain steady […]
June 2024 Market Statistics – GGH (Greater Golden Horseshoe)

Greater Golden Horseshoe Real Estate Report by Gerald Lawrence
Home Buyers Experience Less Competition in May

The Toronto real estate market continued to see lower home sales in May 2024 compared to the previous year. This comes after a brief market upswing in the spring of 2023. Potential buyers are waiting for mortgage rates to come down before entering the market. There’s some optimism, however. The number of new listings has […]
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1st Interest Rate Cut by the Bank Of Canada in 4 Years

Bank of Canada reduces policy rate by 25 basis points FOR IMMEDIATE RELEASE Media Relations Ottawa, Ontario June 5, 2024 The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet […]

Market Update After 10 Interest Rates Increases, We now are on our 2nd decrease to 4.50% Monetary Policy Decision The Bank of Canada today lowered its policy interest rate by 25 basis points. The overnight rate target is now 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank will continue to normalize its balance sheet. Global Economy Global economic growth is projected to remain steady […]

June 2024 Market Statistics – GGH (Greater Golden Horseshoe) Greater Golden Horseshoe Real Estate Report by Gerald Lawrence

Home Buyers Experience Less Competition in May The Toronto real estate market continued to see lower home sales in May 2024 compared to the previous year. This comes after a brief market upswing in the spring of 2023. Potential buyers are waiting for mortgage rates to come down before entering the market. There’s some optimism, however. The number of new listings has […]

Market Update 1st Interest Rate Cut by the Bank Of Canada in 4 Years Bank of Canada reduces policy rate by 25 basis points FOR IMMEDIATE RELEASE Media Relations Ottawa, Ontario June 5, 2024 The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet […]

Statistics Selling Prices Up in March and Set to Accelerate This Spring TORONTO, ONTARIO, April 3, 2024 – The latest report on March 2024 home sales, facilitated through TRREB’s MLS® System, reveals a slight dip compared to the same period in 2023. This decrease can be attributed in part to the timing of the statutory holiday Good Friday, which fell in March this year as opposed […]

York Region Market Update – February 2024

Township Of Uxbridge Market Update – February 2024

Durham Region Market Update For February 2024

Market Update Buyers Re-Enter the GTA Housing Market in February TORONTO, ONTARIO, March 5, 2024 – Greater Toronto Area (GTA) home sales and new listings were up on an annual and monthly basis in February 2024. Selling prices also edged upward compared to a year earlier. Population growth and a resilient regional economy continued to support the overall demand for housing. Higher borrowing costs kept […]

Market Update News Update: CMHC To End First-Time Homebuyer Incentive Program IMPORTANT – February 29, 2024 The First-Time Home Buyer Incentive has been discontinued. The deadline for new or updated submissions for the First-Time Home Buyer Incentive is midnight ET on March 21, 2024. For new and resubmitted First-Time Home Buyer Incentive applications All new applications and resubmissions for previously cancelled or declined applications must reach […]

Market Update Tighter Market Conditions in January 2024 When Compared to the Previous Year TRREB: Tighter Market Conditions in January 2024 When Compared to the Previous Year TORONTO, ONTARIO, February 6, 2024 – Home sales were up in January 2024 in comparison to January 2023. This annual increase came as some homebuyers started to benefit from lower borrowing costs associated with fixed rate mortgage products. New listings were also […]

Market Update Sellers Are Coming: Over The Next 2 Years | 7 Million People Turn 65 In the dynamic realm of real estate, trends and demographics play a pivotal role in shaping the market landscape. A significant shift is on the horizon as the next two years will witness a surge of individuals turning 65 – a staggering 7 million people to be exact. This demographic milestone has profound implications for […]

Market Update Jan 24, 2024 | Bank of Canada maintains policy rate, continues quantitative tightening FOR IMMEDIATE RELEASE Media Relations Ottawa, Ontario January 24, 2024 The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. Global economic growth continues to slow, with inflation easing gradually […]

First-Time Home Buyer Incentive Program by the Canadian Government

Navigating the Ontario Real Estate Market: A Guide for First-Time Homebuyers Embarking on the journey of purchasing your first home in Ontario is an exciting but sometimes overwhelming experience. From understanding the market dynamics to taking advantage of government incentives, there’s much to consider. In this blog post, we’ll explore essential tips for first-time homebuyers in Ontario, with a special focus on the government’s First-Time Home […]

Mastering the Art of Home Staging: Your Guide to a Swift Home Sale! In the bustling Ontario real estate market, making a memorable first impression is crucial for a quick and successful home sale. One of the key strategies to achieve this is effective home staging. In this blog post, we’ll explore essential home staging tips tailored to the Ontario market, helping sellers create a captivating environment that […]

Property Pre-Qualification & Pre-Approval Guide Securing pre-approval is a pivotal step for homebuyers in Canada, as it provides a more comprehensive and concrete commitment from lenders compared to pre-qualification. To initiate this process, prospective buyers should gather essential financial documents, including proof of income, employment verification, and details about existing debts. These documents help lenders assess the buyer’s financial stability […]

REALTOR® Cooperation Policy Comes into Force January 2024 On January 3, 2024, the REALTOR® Cooperation Policy will be enforced, bringing into operation the new “Duty of Cooperation” as outlined in Article 30 of the REALTOR® Code. What is mandated by this policy? In cases where public marketing of a residential listing takes place, REALTORS® must ensure the inclusion of the listing on an […]

Ontario Modernizing Rules Governing Province’s Real Estate Services Sector News Release From The Ministry of Public and Business Service – Ontario New protections designed to strengthen consumer confidence when dealing with brokerages, brokers, and salespersons November 28, 2023 Public and Business Service Delivery TORONTO — The Ontario government is updating the rules governing the province’s real estate brokerages, brokers, and salespersons to strengthen consumer […]

Market Update The 2023 GTA Housing Market: High Borrowing Costs and Growing Affordability Challenges TRREB: The 2023 GTA Housing Market: High Borrowing Costs and Growing Affordability Challenges TORONTO, ONTARIO, January 4, 2024 – While the overall demand for housing remained buoyed by record immigration in 2023, more of this demand was pointed at the rental market. The number of Greater Toronto Area (GTA) home sales in 2023 came in […]

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