Consumption is expected to contribute meaningfully to growth in the near term, supported by ongoing strong job creation and elevated consumer confidence. However, in 2018–19, consumption growth is anticipated to moderate and the savings rate to increase in response to slower growth of household disposable income and higher interest rates. With higher interest rates, debt-service costs are expected to increase, thus dampening consumption growth, particularly of durable goods, which have ...
Growth of household spending is expected to slow according to the Bank of Canada
January 17, 2018
Bank of Canada increases overnight rate target to 1.25%
January 17, 2018
The Bank of Canada building in Ottawa.Sean Kilpatrick/The Canadian Press files The Bank of Canada today increased its target for the overnight rate to 1 1/4 per cent. The Bank Rate is correspondingly 1 1/2 per cent and the deposit rate is 1 per cent. Recent data have been strong, inflation is close to target, and the economy is operating roughly at capacity. However, uncertainty surrounding the future of ...
Greater Toronto Area’s Housing Market Sees Double-digit Year-over-year Price Gains in the Fourth Quarter of 2017
January 11, 2018
Affordability constraints and new Office of the Superintendent of Financial Institutions’ mortgage regulations push many potential purchasers to the sidelines The Royal LePage House Price Survey1 released today revealed double-digit growth across the Greater Toronto Area (GTA) in the fourth quarter of 2017 compared to the same quarter last year. Home values continue to be influenced by an exceptionally strong start to 2017. During the quarter, demand continued to slow ...
Average Price up 12.7% in 2017 across the Greater Toronto Area
January 4, 2018
Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 92,394 sales through TREB’s MLS® System in 2017. This total was down 18.3 per cent compared to the record set in 2016. Record sales in Q1 were followed by a decline in Q2 and Q3 after the Ontario Fair Housing Plan (FHP) was announced. The pace of sales picked up in Q4, as the impact of ...
Home prices in the Greater Toronto Area expected to increase 6.8% in 2018
December 28, 2017
Impact of new stress test expected to be contained to first half of 2018 for most major markets Still risk of high price appreciation in Greater Toronto Area and Greater Vancouver as chance of market correction fades Compounding policies could have unintended consequences for struggling housing markets According to the Royal LePage Market Survey Forecast released last week, the Royal LePage House Price Composite, which measures home prices in 53 ...
Demand for Housing on the Upswing in November
December 5, 2017
Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 7,374 transactions through TREB’s MLS® System in November 2017. This result was up compared to October 2017, bucking the regular seasonal trend. On a year-over-year basis, sales were down by 13.3 per cent compared to November 2016. New listings entered into TREB’s MLS® System in November 2017 amounted to 14,349 – up by 37.2 per cent ...
Sales Momentum Picking up Across the GTA
November 2, 2017
Toronto Real Estate Board President Tim Syrianos reported 7,118 residential sales through TREB’s MLS® System in October 2017. This result represented an above average increase between September and October of almost 12 per cent, pointing to stronger fall market conditions. On a year-over-year basis, October sales were down compared to 9,715 transactions in September 2016. Total sales reported through the first 10 months of 2017 amounted to 80,198 – down ...
Condo Market Conditions Remain Tight in Q3 2017
October 27, 2017
Toronto Real Estate Board President Tim Syrianos reported continued average price growth on a year-over-year basis for condominium apartments listed and sold through TREB’s MLS® System by Greater Toronto Area REALTORS®. The average selling price was $510,206 in Q3 2017 – up by 22.7 per cent compared to the average of $415,894 reported in Q3 2016. “The condominium apartment market segment has exhibited the strongest average rates of price growth ...
6 Secrets of Being a Successful Real Estate Agent
October 26, 2017
thebalance.com – June 7, 2017 - James Kimmons If you're considering real estate as a career, or you've been in the business for under 2-years, these secrets can make a difference in your probability of success in real estate. Some of the old "real estate sayings" that many new real estate agents take to heart are no longer as true as they were before the Internet and the real estate ...
How the new mortgage rules will affect homebuyers in 2018
October 23, 2017
Scenarios show that Canadians will be able to afford about 20% less house From: Macleans.ca – October 19, 2017 - Julie Cazzin The Office of the Superintendent of Financial Institutions (OSFI) has introduced new rules on mortgage lending to take effect next year. OSFI is setting a new minimum qualifying rate, or “stress test,” for uninsured mortgages (mortgage consumers with down payments 20% or greater than their home price ...