toronto real estate market: Toronto real estate and mortgage highlights - 02/22/10 04:26 PM
•   Housing starts rise in January and are now 23% below their trough in April of last year.
•   Weekly jobless claims move up and barely budge on a four quarter moving average basis.
•   Headline inflation falls to 2.6% from 2.5% in December. Core inflation falls to 1.6% from 1.8%
•   The Canadian Federal Department of Finance announced three changes to mortgage insurance rules that will help to cool the Canadian real estate market.
•   Canadian Resale housing market data over the last three months suggest activity is cooling.  Homes sales fell 2.8% in January, the first decline in over … (0 comments)

toronto real estate market: TO BUY OR NOT TO BUY?!! - 09/22/09 10:20 AM
      Is now a good time to buy? On the one hand you have very low mortgage rates as the Bank of Canada (Canada Realty News reports) had cut the interest rate several times in the last few months to try and get the banks lending again. Property prices have dropped in the last year and there are many good deals to be made.
      On the other hand, there is still the question whether housing market prices will hold or drop further. Potential buyers are wary about taking on such a huge borrowing to find that the dream house they have just … (0 comments)

toronto real estate market: Toronto real estate. Luxury home sales hit record high in Toronto in May - 06/15/09 03:08 PM
A new report on the Toronto real estate market suggests it is once again moving at full steam, with high-end homes selling at record rates.
May was the strongest month ever for sales of luxury homes in the Greater Toronto Area, according to RE/MAX Ontario-Atlantic Canada.
In that month, 273 homes were sold for more than $1 million each, compared to 258 sold in the same month one year earlier -- a difference of 6 per cent.
"What we are seeing is confidence is returning to the marketplace, and there are some market dynamics that are in place with consumers returning … (0 comments)

toronto real estate market: NOW IS A GREAT TIME FOR 1 ST-TIME TORONTO AND GTA BUYERS - 04/14/09 12:28 PM
When the Toronto and GTA housing market was hot, bidding wars forced many buyers to put in offers without conditions to increase their chances of being accepted. This, combined with unprecedented increases in home prices, scared many first-time buyers out of the market. But the economic downturn changed all that. As housing prices fell and lenders lowered their mortgage rates to attract borrowers, the Toronto market became much more attractive to people looking to buy their first homes.The average mortgage payment has fallen by one-third or $600 a month from its peak.
We expect resale prices to fall moderately further this year. We look for the … (0 comments)