We rolled out the red carpet for the business after hours members & friends of the chamber of commerce. How else do you expect us to greet royalty! It was an evening of conversation & connection where we came together as a business community to support & learn about one & another passions & pain. I have been a privileged member since 2014 & now serving as a Board Member sin...Read More

  “As demand for ownership housing has picked up relative to supply, we are seeing renewed upward pressure on home prices. For a short period of time, higher borrowing costs trumped the impact of the constrained housing supply in the GTA. Renewed competition between buyers is once again shining the spotlight on the persistent lack of listings and resulting impact on affordability,&rdq...Read More

The Bank of Canada maintained its key interest rate at 4.5%. In its announcement, the bank stated that  demand still exceeds supply and economic growth in the first quarter was stronger than expected. The  bank however expects economic growth to be weak for the rest of this year before beginning to pick up  gradually in 2024 and through 2025.  Inflation has declined but is sti...Read More

 #marketsnapshot March 2023 Market Update  Greater Toronto Area (GTA) housing market conditions tightened in March 2023. Sales accounted for an increased share of listings in comparison to March 2022, suggesting that competition between buyers is on the rise. The average sale price was above the average list price for the first time since May 2022. There were 6,896 sales through TRREB...Read More

The Canadian government has announced amendments to the regulations surrounding the country’s foreign homebuyer ban. The Prohibition on the Purchase of Residential Property by Non-Canadians Act came into effect on Jan.1, as an attempt, the government said previously, to improve affordability for Canadians looking to buy a home. While temporary, the act and its regulations have caused confu...Read More

Bond markets predicting interest rates to fall – and possibly very soon  In the aftermath of the Silicon Valley Bank failure and bailout, bond markets have undergone a significant reassessment of future rate moves by central banks, including that of the Bank of Canada. According to swaps-based implied probabilities, there are now decent odds (40%) of a quarter-point cut at the Bank of ...Read More

 #marketsnapshot   February 2023 Market Update   February sales in the Greater Toronto Area (GTA) were down substantially from the pre-rate hike levels of early 2022. However, the number of new listings also dropped substantially year-over-year. The result was that the average selling price and MLS® HPI continued to level off after trending lower through the spring and sum...Read More

As expected, the Bank of Canada maintained its target interest rate for the first time following eight consecutive rate hikes. This undoubtedly comes as welcome news to homeowners who have variable rate and adjustable rate mortgages which are affected by changes in the Bank of Canada rate. In its announcement, the bank indicated that recent economic data is broadly in line with the bank’s ou...Read More

Due to high interest rates, Canada's big six banks are raising the rates they charge for loans, but analysts claim they are not doing the same for savings account rates. In March 2022, the Bank of Canada started initiating a series of interest rate increases, with the goal of controlling inflation. Since then, the rate has increased from a record low of 0.25% to 4.5% today, which is the highe...Read More

Despite higher costs and soaring interest rates, homeownership remains a priority for 67% of Canadians. That percentage is even higher among younger Canadians?—three-quarters (78%) of those between 18 and 34?—according to an online poll conducted by NerdWallet. The top reason cited by all age groups is that they feel purchasing a home is a good investment (34%). Other reasons for pri...Read More