Canadians Opening their Wallets to Improve Home Value GREATER TORONTO – These days, it’s hard to surf through Canadian TV channels without seeing at least one or two home improvement shows like the ones on HGTV Canada – a relatively new specialty network that puts the focus on real estate, curb appeal, and home renovation. […]
Market Update: CREA Reports Hottest Spring Market in Years
New home sales help fuel strong rebound after long winter GREATER TORONTO – After one of the longest and coldest Canadian winters in recent memory, low interest rates and plenty of home-building activity have inspired a red-hot sales surge for Canadian real estate – one that has economists boosting their forecasts for the country’s housing […]
CMHC Eliminates Two Mortgage Insurance Programs
OTTAWA – Some Canadians may have a harder time insuring their mortgages from June forward, as the Canada Mortgage and Housing Corporation (CMHC) is moving to discontinue two of its longstanding mortgage insurance access programs. Effective May 30th, the Second Home and Self-Employed Without 3rd Party Income Validation mortgage insurance programs will no longer be […]
Canada’s Real Estate Market Might be Stronger than You Think
Globe and Mail analysis reveals “flawed uses of data” in pessimistic reports TORONTO – During one of the country’s coldest winters in recent memory, Toronto’s real estate market has managed to stay as hot as ever with GTA home sales even climbing by 2.1 per cent – and the average home price increasing by an […]
CMHC, Genworth Canada Announce Premium Increases for Mortgage Insurance
OTTAWA – Canadian homebuyers looking to insure their mortgage through the Canadian Mortgage and Housing Corporation (CMHC) will be facing slightly higher insurance costs if they plan to buy after May 1, 2014. On February 28th, the lender announced that it would be hiking its standard premiums from a current range between 0.5 and 2.9 […]
CMHC sheds new light on Canadian condo ownership
TORONTO – When looking at condominium communities in Toronto and other major Canadian real estate markets – especially high-rise towers – it’s natural to wonder how many units are rented out by investors, and how many are lived in by their owners. Thanks to a special “Feature on Condominiums” in the Canadian Mortgage and Housing […]
Market Update: GTA Condo Market Continues Rebound in Q4
MARKHAM – The final months of 2013 were strong ones for sales in the GTA’s high-rise real estate sector, as condo apartment sales in the year’s fourth quarter (Q4) increased by an incredible 21 per cent over the same period in 2012. The Toronto Real Estate Board (TREB) reported in January that across their jurisdiction, […]
Carbon Monoxide Safety Introduced into Ontario’s Fire Code
TORONTO – As Canadians prepared for another long and chilly winter, the Government of Ontario passed a significant new bill aimed to protect the province’s homebuyers from injuries caused by carbon monoxide. Bill 77 – entitled the “Hawkins Gignac Act (Carbon Monoxide Safety)” – passed its own third reading at the end of November, and […]
Ontario Ministry of Consumer Services Updates Real Estate Legislation
Strengthening of Consumer Protection Act aims to protect property buyers and sellers across the province TORONTO – Up until November 2013, those looking to buy or sell an Ontario home only had one model of paying their real estate agent: through a commission relative to the price of the property. The province has voted in […]
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