Home buyers surprised everyone last spring when they shook off higher borrowing costs and showed up to new home sales in droves. The surge in competition for a still-limited pool of properties helped home prices pop and renewed sellers’ confidence in their ability to get top dollar for a home. ...
Continue ReadingBuying a new home is one of the most exciting experiences in life. And if you’re like most home buyers, you’ll be planning your furniture placement and decor before the ink dries on your offer letter. But before you run to the nearest home goods store, take a deep breath. ...
Continue ReadingIf the thought of investing your money into brick and mortar—or perhaps some stylishly-painted siding—excites you, join the club. Investing in real estate has long been one of Canadians’ favourite ways to grow their wealth. According to a poll by CIBC, 15% of Canadian homeowners already earn some rental income, ...
Continue ReadingTo avoid buyer’s remorse, be sure to consider your future self when shopping for a home. Most new homebuyers don’t regret becoming homeowners. In fact, according to a recent survey, 80% of Canadians who purchased a home during the pandemic say they’re glad they bought their current homes.1 But that ...
Continue ReadingThere’s an old adage in real estate: location, location, location. But ever since the Bank of Canada began its series of inflation-fighting interest rate hikes last year, a new mantra has emerged: mortgage rates, mortgage rates, mortgage rates. Higher rates had the immediate impact of cooling home buyer affordability and ...
Continue ReadingLast year, one factor drove the real estate market more than any other: rising mortgage rates. In March 2022, the Bank of Canada began a series of interest rate hikes in an effort to pump the brakes on inflation.1 While some market sectors have been slow to respond, the housing ...
Continue ReadingDeciding whether to jump into the housing market or rent instead is rarely an easy decision – especially if you’re a first-time homebuyer. But in today’s whirlwind market, you may find it particularly challenging to pinpoint the best time to start exploring homeownership. A real estate boom during the pandemic ...
Continue ReadingInterest rates have risen rapidly this year, triggered by the Bank of Canada’s efforts to curb inflation. The July MNP Consumer Debt Index found that 59% of Canadians “are already feeling the effects of interest rate increases.”1 Why has the impact been so widespread? In part, due to the rising ...
Continue ReadingLast year was one for the real estate history books. The pandemic helped usher in a buying frenzy that led to a record number of home sales in 2021 and a historically-high rate of appreciation, as prices nationally rose by more than 20% year over year, according to the Canadian ...
Continue ReadingIn a July release, the Canadian Real Estate Association reported that home sales had fallen for three months in a row after reaching an all-time high in March.1 So could one of the world’s hottest real estate markets finally be headed for a downturn? We wouldn’t bet on it. That’s ...
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