The Bank of Canada’s decision not to raise interest rates diverges from the US Federal Reserve’s continuous hikes. This may impact the rental market and ease rent prices, but supply shortages will still prevail. Rising interest rates in the US, compared to shorter-term mortgages in Canada, may impact the Canadian economy and inflation, leading to a weaker Canadian dollar.
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Bank of Canada keeps key rate steady On March 8, 2023 after eight hikes, citing tight labor market and high inflation. Economists watching indicators for rate cut. Is it too early to be optimistic?
Toronto’s February 2023 sales report shows a 47% decline in sales but stable prices. Increased buying intentions and a new housing initiative may support future growth.
Toronto’s real estate market has been on a wild ride in recent years, with the COVID-19 pandemic causing a slowdown in sales and fluctuation in prices. However, despite the challenges, the market has remained relatively resilient.
Canada needs to build more homes to keep up with immigration, incentivize municipalities to build within cities, and invest in affordable and social housing to avoid pricing Canadians out.
Are you trying to decide between buying or renting a home? This blog post dives into some key factors to consider, such as your financial situation, long-term plans, and the housing market in your area.
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Lower interest rates in 2023 bring hope for homebuyers, while sellers may benefit from market insights to achieve the best outcome. Real estate is complex and subject to economic factors.