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Halicopter Drop

Wednesday Sep 30th, 2020

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Happy Monday Morning! Prime Minister Justin Trudeau delivered his "whatever it takes" moment this past week during the throne speech. Adding, "Now is not the time for austerity." Cue the fiscal bazooka. Trudeaus 17 page speech promised a plethora of spending, most notably an extension of Canada's emergency wage subsidy. The program will be in place until at least Summer 2021 and is expected to cost an additional $40B. Further, the popular CERB program, which has since been rebranded the... [read more]

Will the housing market continue to rise as the economy opens back up?

Wednesday Jul 8th, 2020

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RBC Wealth Managemnt Real Estate Update. Follow the link:https://www.rbcwealthmanagement.com/ca/en/research-insights/will-canadas-housing-market-continue-to-rise/detail/?utm_id=wm1555642701744135&utm_campaign=Blogs%20Series&utm_medium=email&_hsmi=91001211&_hsenc=p2ANqtz-9Tz3H4_enYMPBHd6BqFQXnq05GUBcRXGh2QzlHRCWOvI41qeNk0YG_sOJ7WiVhL5EnKLBm8X5ThMCxz-ILhh6Crk7fYavqX-jHJVNilZYHwQzMBS0&utm_content=91001211&utm_source=hs_email   [read more]

9 Ways to Keep Yor Credit Score Up

Wednesday Jul 8th, 2020

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This article descibes basic ways to monitor your credit and increase credit score.https://www.canadianmortgagetrends.com/2020/07/9-ways-keep-credit-score-high-possible-part-ii/   [read more]

Article By Steve Saretsky

Monday Jun 15th, 2020

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It's been several months since COVID-19 sent the Canadian economy into a tailspin. As we begin to re-open, many questions remain unanswered, including the fate of the Canadian housing market.  So far, here's what we know. Sales activity has collapsed, falling by about 50% in April, with a similar figure expected in May. However, despite the unemployment rate nearly tripling, sales activity is arguably better than most would have anticipated at the beginning of the shut-downs.... [read more]

New Normal

Monday May 11th, 2020

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Happy Monday Morning! We received a rather horrifying glimpse behind the curtain this past week, as the number of unemployed Canadians reached levels not seen since 1982. Two million jobs evaporated in April, pushing the official unemployment rate to about 13%, nearly triple what it was a few months ago. Even more heartbreaking, these numbers are grossly underreported.  Per... [read more]

The Modern Day Debt Jubilee (Article By Steve Saretsky)

Monday Apr 27th, 2020

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The economic impact from the Coronavirus will be one for the ages. The International Monetary Fund expects the global economy to shrink 3% this year, far worse than its 0.1% dip in the Great Recession year of 2009. Some estimates are pointing towards a $10 trillion hit to economic output, that's more than the economies of Germany and Japan combined.  The obvious reaction from policy makers has been to spend. Governments across the globe have already committed $8 trillion in... [read more]

The Number of New Mortgages Declined in 2017

Friday Sep 7th, 2018

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Background When it comes to tracking trends in Canadian mortgage activity, data gaps continue to pose challenges. Using data from consumer credit reports, CMHC has analyzed different types of new mortgage loans. Here are the categories of new loans we were able to analyze using the data: New owners Repeat buyers Refinances Renewals with a new lender Multiple mortgage holders (consumers with multiple mortgages on their credit file) Renewals with the same lender are... [read more]

Pre-sales of new low-rises in Toronto take steep dive

Tuesday Oct 31st, 2017

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JANET MCFARLAND OCTOBER 26, 2017OCTOBER 26, 2017 Preconstruction sales of new low-rise homes fell 73 per cent in the Toronto area in September compared with a year earlier as the home-building sector faces major headwinds from the region's housing-market downturn. The Building Industry and Land Development Association (BILD) said builders in the Greater Toronto Area presold just 352 low-rise homes in September – including detached and semi-detached houses as well... [read more]

Six figure income needed to buy almost any GTA home

Sunday Aug 20th, 2017

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As the cost of Toronto-area housing rises, so do the financing challenges for young adults. Report says $200,000 a year is the average income needed for a detached house in Toronto. It takes a six-figure income to afford virtually any Toronto area home — even a condo — and that expense is presenting a considerable financial challenge to an important cohort of millennial consumers. Separate studies from two real estate companies on Thursday paint pictures of the high income... [read more]

Ontario Introduces Measures To Rebalance Provincial Housing Market

Wednesday Aug 2nd, 2017

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April 21,2017 the Government of Ontario announced a slew of measures, referred to as the Fair Housing Plan, intended to address some of the challenges facing the rapidly overheating housing market. The comprehensive set of actions is meant to take a multifaceted approach by helping cool demand, address shortages of supply, and promote affordability in the provincial housing market. Sixteen initiatives can be categorized into three broad buckets: Demand cooling: • A 15%... [read more]

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