Finance
Mortgages
Refinancing 90% Of A Home’s Value Could Lead To "Massive" Debts
On Tuesday, the Government of Canada announced a new insured mortgage refinancing product that is causing some in the real estate industry to scratch their heads.
Oct 09, 2024
Mortgages
“All About Gentle Density”: Feds Unveil New Mortgage Refinancing For Secondary Suites
Somewhat jarringly, the product will allow eligible homeowners to access up to 90% of their property’s value, including the value added by the secondary suite, with a property value limit up to $2 million.
Finance
How The Numbers Behind Mortgage Switching Might Change Amid OSFI’s New Rules
Eliminating the stress test from renewals with a new lender not only makes things easier for borrowers, but facilitates more competition in the financial sector.
Construction
High Interest Rates Resulted In 30,000 Fewer Housing Starts In 2023: CMHC
According to modeling by the CMHC, interest rates decreased housing starts by about 30,000 units, a decline of 10 to 15%.
Elegance Meets Modern Charm At This Serene Summerhill Family Home
Sitting pretty on one of Summerhill’s most coveted streets, 109 Roxborough Street West is a prime example of century home elegance merged with modern-day charm.
Toronto
Toronto Ranks 5th Most At Risk For Housing Bubble Globally
Toronto's risk score improved in 2024, though slower rent and income growth have kept the city in "elevated" risk territory.
Taxes
Toronto Updates Vacant Home Tax Program After Thousands Of Charges Mistakenly Issued
Toronto's Vacant Home Tax program — meant to incentivize vacant homeowners to sell and source funding for new housing initiatives — has been revamped to avoid another taxation tragedy.
Mortgages
The Best Way Agents Can Help Protect Clients From Real Estate Fraud
As the real estate industry continues to evolve, it's crucial to stay informed and take proactive steps to protect your investments. Tools like Interac Verified can help you do just that.
Economy
Inflation Cools To BoC Target, Igniting Calls For 50-Bps Rate Cut In October
Desjardins Economist Randall Bartlett tells STOREYS that August's inflation print marks a “turning point” for interest rates and an indication that better days are ahead for the housing market.
Finance
Newly Launched Financing Model Makes It Easier To Access Your Home Equity
The Home Equity Partners Inc. has debuted a HESA model in Canada, giving GTA homeowners the opportunity to access flexible financing by tapping into their home’s value. The best part? It doesn't involve taking on debilitating debt.
Mortgages
Feds Introduce Two Substantial New Mortgage Reforms
The reforms, which include greatly expanded eligibility for 30-year mortgage amortizations as well as a price cap increase for insured mortgages, are intended to make homeownership more attainable and affordable for Canadians.
Economy
Bank Of Canada Cuts Interest Rate For Third Consecutive Time
Wednesday's announcement from the Bank of Canada brings the policy interest rate down to 4.25%.
Economy
Where Every Big Bank Stands On Tomorrow’s Interest Rate Announcement
Economists with Canada’s ‘Big Five’ banks are unanimously calling for an interest rate cut tomorrow, but there is some diversity in views when it comes to the announcements to follow.
Mortgages
Worried About Higher Mortgage Payments? A HESA Can Help
With The Home Equity Partners’ recent introduction of the Home Equity Sharing Agreement (HESA) to the GTA, potentially distressed borrowers have a new solution — one that sidesteps many pitfalls.
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