Real Estate in the News

Posted by:

Stay up-to-date with all real estate news updated continually on our Facebook page.

Five things to know about new mortgage rules that came into effect Monday
Homebuyers now have to put at least a down payment of 10 per cent on the portion of the price of a home over $500,000. For anyone buying a home for $700,000 — a common list price in Vancouver and Toronto — that means the minimum down payment will rise to $45,000 from $35,000. Any home under $500,000 still requires only a down payment of five per cent.

Toronto, Vancouver Home Prices To Turn Negative As Mortgage Rates Creep Up: TD Bank
“The lofty activity last year has likely left these two markets more vulnerable to even a gradual increase in interest rates and regulatory rule changes,” economist Diana Petramala wrote.

Home sales up eight per cent last month; average price soars 17 per cent: CREA
CREA says the national average home price was $470,297 in January, fuelled largely by price gains in greater Vancouver and greater Toronto.

Please forward or share these news articles with people you know will appreciate them.