Listings declined by 12% from Q4-2020 and brought the ratio of quarterly condo leases-to-listings to 61%—the highest since the COVID-19 pandemic struck in March of last year.
Covid-19｜Is Rent CANCELLED?!
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The HOMEWISE poll showed that only 49.1% of the 750 respondents aged 25 to 44 sought out better rates while 37.9% remained with their bank and 13.1% said they would go to one of Canada the Big Five.
“You order material and suppliers will say two weeks, but then six, eight, 10 or 12 weeks go by, and this is what we’re seeing in most of our projects,” said Patrice Groleau, owner of McGill Real Estate.
“The average cost of a one-bedroom unit in Toronto was $1,866 a month last November,” said a report from LowestRates.ca. "“This represents a 19% year-over-year decrease."
If the bank regulator has its way, this rate will increase to 5.25%, which will, on average, reduce the maximum qualifying amount for a mortgage by approximately 5%.
The government is introducing a 1% tax on non-residents that’s believed will generate $700 million in revenue through four years beginning in 2022-23, but will it really make a difference?
Chrystia Freeland's first budget is as promised. In more than two years, the first federal budget extends Ottawa’s COVID-19 “lifeline” for workers and struggling businesses another few months.
This new platform helps first-time homebuyers connect with local realtors who can help them navigate the market. It will be a great platform to help realtors find quality leads.
Mortgage broker Daniel Johanis says affordability on mortgages originated with the Big Five will decline as the OSFI implements another stress test that will take effect as of June 1.
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