Real Estate in the News

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Financial guru: Mortgage rate increase threatens stability
With the Royal Bank of Canada’s announcement of mortgage rate hikes that are set to take place this Friday (January 8), a similar rise in interest from local banks might follow, according to a renowned consumer financial expert.

GTA Realtors® Report Record Year For TREB MLS® Home sales
The second best sales result on record for December capped off a record year for TREB MLS® home sales in the GTA. Toronto Real Estate Board President Mark McLean announced that there were 4,945 sales reported in December bringing the 2015 calendar year total to 101,299 – a substantial 9.2 per cent increase compared to 2014 as a whole. Strong annual sales increases were experienced for all major home types last year.

Millennials set to drive change in real estate market
The first wave — boomers’ kids who range in age from 15 to 34 and make up about one-quarter of Canada’s population — are just moving into their prime home-buying years. Many live in Toronto and Vancouver, where job growth has become a major magnet.

Five Factors That Will Drive Canadian Mortgage Rates in 2016
The start of the new year is a good time to assess the key factors that will determine the direction of our mortgage rates over the next twelve months. While factors like $40/barrel oil, continued global instability risks and benign inflation rates in both Canada and the U.S. hint that both our fixed and variable mortgage rates should remain near today’s levels for the foreseeable future, wildcards like the plummeting Loonie and the Fed’s tightening timetable should keep us from becoming too complacent when putting our money where our mind is.

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