Property Hound

Recent Interest Rate Hike Implications

Thursday Mar 24th, 2022

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In an attempt to cool the real-estate market and reduce inflation, the Bank of Canada has increased the overnight interest rate by 0.25%. An increase in the cost of borrowing is certain to have an impact on the number of homeowners and homebuyers. According to economists, Canadians could see as many as four interest rate hikes this year, each comprising an additional 25 basis points. By the second half of 2023, the interest rate is expected to reach 1.75 per cent. Those with fixed-rate... [read more]

Current Events and Effects on Real Estate

Tuesday Mar 1st, 2022

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We have almost finished with the first quarter of 2022 and it has not been short of events happening.  Two years and counting, we are still battling COVID-19, Inflation is at a level not seen in over three decades (According to Statistics Canada, Canadian inflation surpassed 5% for the first time since September 1991, rising 5.1% on a year-over-year basis and up from a 4.8% gain in December 2021.) civil unrest everywhere, debt is at an all time high, major interruptions/backlog in the... [read more]

Real Estate Predictions in 2022

Monday Jan 24th, 2022

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Although no one has a crystal ball and it is hard to say for certain what will happen, here are some educated predictions for 2022. Toronto's real estate market in 2021 has put home purchases out of reach for many millennials and first-time buyers.  Tougher lending, qualifying and mortgage approvals are also forcing buyers to lower their expectations when purchasing.  Unfortunately, most experts are predicting house prices to continue to rise in 2022, but perhaps at a... [read more]

Top 5 Questions in Today's Market

Wednesday Dec 8th, 2021

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Top 5 Questions

People have been asking and are concerned with what's happening in our real estate market.  Here are the top 5 questions consistently asked and my answers to them.    "What's going on with the market?"  According to the Toronto Real Estate Board, record number of home sales was set in 2016 with a total of 113,000 units sold.  We are currently sitting at 115,000 units with still December to finish out 2021.  Prices on homes have increased... [read more]

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