Under best-case scenarios, housing starts will fall well below the affordable housing supply targets it has set for Ontario, B.C. and Quebec to reach by 2030. In those three provinces and Alberta there will only be enough labour capacity over the next eight years to increase the number of housing starts by between 30 and …
Ontario Superior Court Clarifies Priority Of Construction Lien Claimants Over Building Mortgages The Ontario Superior Court of Justice in BCIMC Construction Fund Corp. et al. v. 33 Yorkville Residences Inc et al.1 recently held that construction lien claimants are entitled to one holdback fund of 10%, regardless of the number of building mortgages registered on …
Construction Mortgage-Important Clarification by Court Read More »
Windsor-area home sales dropped by 42 per cent and prices receded by 4.87 per cent in September compared to the same month a year ago. The slide in both sales and prices, which began with the Bank of Canada raising interest rates last spring, has seen the average monthly sales price drop from $723,739 in …
What is a mortgage stress test? Everyone in Ontario applying for a residential mortgage has to pass what is known as a stress test. This is also the case for people who are refinancing their current home with a different lender, as well as those who are seeking a homeowner line of credit. In a …
Nearly one third of younger Canadians have had to postpone or deprioritize buying a home since the beginning of the year, according to a new survey. he survey, commissioned by Royal LePage and conducted by Leger, asked 1,565 participants if “the increased cost of living, including higher interest rates and inflation,” caused them to “postpone …
Interest rate hikes- Canadians putting home-buying plans on hold? Read More »
Looking to go all-in and purchase a home in Ontario but can’t quite afford the hefty price tag that comes with it? A home that just hit the market in the Greater Toronto and Hamilton Area (GTHA) could be what you’re after — even if it’s just half a property. Real estate broker Bob Van …
The required salary to purchase an average-priced home in Hamilton with a 20 per cent down payment has dropped by more than $11,000 since June, recent. The tumble comes as home prices in Steeltown continue to cool as rising mortgage rates push some would-be buyers to wait on the sidelines, causing fierce competition to fall …
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