Canadian Home Affordability Sees Biggest Improvement In A Decade Falling interest rates around the world are helping out homebuyers in Toronto and Vancouver. It’s a bit premature to say houses in Canada are affordable again ― in fact, it’s way too premature to say that ― but things are moving in the right direction, and fast. […]

About the First-Time Home Buyer Incentive There are a few qualifiers to apply for this incentive: you need to have the minimum down payment to be eligible your maximum qualifying income is no more than $120,000 your total borrowing is limited to 4 times the qualifying income If you meet these criteria, you can then […]

Canada’s first CondoExpo to take place in Vancouver this fall Event aims to boost flagging market by offering buyers and investors a one-stop shop of new condo projects   Presale buyers at the Soleil White Rock condo project can earn eight per cent interest on their deposit during the three years it will take to […]

Qualifying Mortgage Rate Falls For First Time Since B-20 Intro The interest rate used by the federally regulated banks in mortgage stress tests has declined for the first time since 2016, making it a bit easier to get a mortgage. This is particularly important for first-time homeowners who have been struggling to pass the B-20 […]

Bank of Canada cuts mortgage stress test rate for first time since 2016 Canadians may now be able to afford slightly more expensive homes For the first time in almost three years, the Bank of Canada has cut its minimum mortgage qualifying rate, dropping it to 5.19 per cent from 5.34 per cent. The central […]

Canadian housing enters a new ‘boring’ era amid modest gains in sales The incremental gains mark a new period of stability for housing sales after a less-than-stellar 2018 and early 2019   New home sales in Canada edged up 0.3 per cent in June from the previous month, with gains in the Greater Toronto Area […]

B.C. government says ride hailing services can operate starting Sept. 16 The provincial government says its regulations for ride hailing will be in effect as of Sept. 16, 2019. Seth Wenig / AP Welcome to B.C., Uber and Lyft. The ride hailing companies could be operating on B.C. roads as early as Sept. 16, as […]

Condo flippers beware: The taxman is watching you, and has new tools at his disposal to ‘take action’ The CRA’s ability to hunt you down over your real estate transactions is better than ever; this tax case looks at what constitutes a flip A condo building in downtown Toronto.Jack Boland/Toronto Sun/Postmedia Network If you plan […]

Just in Time for Canada Day: Economy is Clearly on the Mend   A string of reports Friday showed the expansion picked up at the fastest pace since 2017 in April and March; business sentiment unexpectedly rose in May, and mortgage growth is accelerating. The data add to a long list of recent evidence — […]

Canada gets first big taste of co-living rentals trend with tower featuring fully furnished apartments, rooftop yoga Monthly rents at Ottawa tower will start at about $1,225, about 30 per cent less than similar one-bedrooms in the area Canada is getting its first big taste of co-living rentals — the housing trend that’s spreading amid […]