Review the contract carefully to ensure you are getting the agreed-upon interest rate and understand any lender fees. Be aware of your prepayment privilege and any prepayment penalties associated with paying off your mortgage early....
Market Update
The average home price in Brampton was $1.01 million in June 2024, up 0.7% from May 2024 but down 9.3% from June 2023. Detached houses averaged $1.18 million, up 0.7% monthly but down 9.7% yearly. Semi-detached houses averaged $912,621, down 1.7% monthly and 10.5% yearly. Attached houses averaged $869,021, down 0.7% monthly and 7.6% yearly. Townhouse-style condos averaged $693,359, down 0.3% monthly and...
GTA Outside Toronto: 3,977 sales in rest of GTA, avg price $1,155,637. Sales ↓ from 4,612 in June 2023. Toronto Sales and Prices: 2,236 sales in Toronto, avg price $1,173,781. Sales ↓ from 2,817 in June 2023....
In Ontario, newly built homes come with a warranty supported by Tarion, a government-established consumer protection organizationUnlike home insurance, the new home warranty focuses on post-purchase risks and defects after completion....
June home sales in GTA ↓ 16.4% yearly, with 6,213 homes sold. Avg selling price in the GTA ↓ 1.6% yearly to $1,162,167....
The GTA housing market saw stability in May with 7,013 transactions, a 21.7% drop from last year. OREA CEO calls for rate cuts due to unaffordability affecting transaction volume. Average home price decreased to $1,165,691. New listings increased by 21.1%, leading to a buyer's market. Interest rate cuts may attract more buyers but could also increase mortgage delinquencies. Buyers are cautious due...
Toronto City Council has voted to increase the vacant home tax to 3%. The housing market in the Greater Toronto Area remains calm, with low home sales due to high mortgage rates. Buyers have more negotiating power on prices, but first-time buyers are waiting for mortgage rates to drop. Home prices have decreased compared to last year, but high interest rates are still a challenge for buyers. The GTA...
Toronto's housing market has seen a decline in activity, leading to more options for buyers with a significant increase in listings. Bidding wars are decreasing, with fewer neighborhoods experiencing overbidding. Condos are more likely to sell below asking price. Some areas still see strong overbidding, while others are underbidding. Continue to full article...
Ontario and the federal government disagree on development charges for homebuilders. Ontario wants the federal government to allow these charges to fund infrastructure....