Posts by Elliot
More Changes to Mortgage Qualification on the Horizon?
Let’s take a look at some of the potential changes the government could make to mortgage qualification. Qualifying All Terms at the Benchmark Rate As it stands right now, variable rate mortgages and fixed rate mortgages with terms of less than five years are qualified using the benchmark rate. The benchmark rate is set higher…
Read MoreChanges You Can Make to Live “Off The Grid”
For those who live in the suburbs or within the city, the idea of going off the grid, while a nice concept, feels completely unattainable. This is for a variety of reasons including: space limitations, cost, municipal bylaws, and time restrictions. “We certainly can’t commit to going completely off grid”, we say; and then we…
Read MoreTREB Realtors® Release July Resale Housing Figures
TORONTO, August 4, 2016 – Toronto Real Estate Board President Larry Cerqua announced that TREB REALTOR® Members reported 9,989 home sales through TREB’s MLS® System in July 2016. At just shy of 10,000 transactions, this was the best result on record for the month of July. While sales were up on a year-over-year basis, the…
Read MoreTop 3 Summer Renos To Increase Equity
Are you ready to create some lasting memories now that the good weather days are here? No matter whether it’s enjoying the company of family or taking in the beautiful landscapes of Canada, there is always a little piece of paradise that can be found during those scorching hot days. You don’t, however, have to…
Read MoreThe Reno Market Has Taken Off
Since 2012 there has been a home renovation fever in Toronto and much of Canada. The price of resale homes has encouraged people to renovate their old homes instead of buying new ones. According to Scotiabank, Canadians spent approximately $53 billion dollars on home renovations in 2015. The fact that even small renovations raise property…
Read MoreShopping Tips For New Flooring
Once you’ve decided to replace flooring in your home, the real task is narrowing down the choices. New materials and design options abound, so shopping will be easier if you begin by jotting down your flooring needs. Here are a few questions to ask yourself: Does the current flooring need to be removed? What material…
Read MoreGTA Realtors® Release Q2 Condo Market Figures
TORONTO, July 21, 2016 – Toronto Real Estate Board President Larry Cerqua announced another very strong quarter for condominium apartment sales in Q2 2016. Greater Toronto Area REALTORS® reported 8,965 condo apartment sales between the beginning of April and end of June. This result represented an increase of 17.4 per cent in comparison to the…
Read MoreGTA Realtors Release Q2 Rental Market Figures
TORONTO, July 21, 2016 – Toronto Real Estate Board President Larry Cerqua announced that despite a decline in the number of condominium apartments listed for rent on TREB’s MLS® System in the second quarter of 2016, the number of condo apartments rented remained similar on a year-over-year basis – down by only 2.7 per cent…
Read MoreResidential Mortgage Rates as of July 21, 2016
Term Fixed Closed Rate 6 months 3.95% 1 Year 2.29% 2 Year 2.09% 3 Year 2.34% 4 Year 2.49% 5 Year 2.29% 7 Year 2.98% 10 Year 3.89% Prime = 2.70% Variable Closed (5 yr) = Prime minus 0.50% = 2.20% Variable Open = Prime plus 0.80% = 3.50% Secured Credit Lines = Prime plus…
Read MoreMid-July 2016 Sales Stats
July 19, 2016 – Greater Toronto Area REALTORS® reported 4,428 home sales through TREB’s MLS® System during the first 14 days of July 2016. This result represented a three per cent increase compared to the same time period in 2015. Year-over-year sales growth was led by the condominium apartment market segment, with an increase of…
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