Canada’s mortgage wars hit new low as fixed rate dips to 1.49%

By: Rita Garami

Canada’s mortgage wars hit new low as fixed rate dips to 1.49%

Tags: Mortgage rates,Real Estate, Fix vs variable rates, CMHC

Spring market is officially underway ... A Toronto-based credit union Meridian, Ontario’s largest credit union, has offered what appears to be one of the lowest rates ever on a fixed term at 1.49 per cent. Meridian is advertising its new rate as the lowest known posted mortgage rate in Canadian history, but acknowledges the term may not appeal to everyone. Bill Whyte, chief member se...Read More

CMHC to Increase Mortgage Insurance Premiums

By: Rita Garami

CMHC to Increase Mortgage Insurance Premiums

Tags: CMHC,Mortgage,First Time Home Buyers,Real Estate

     CMHC Hikes Premiums Again? Canada Mortgage and Housing Corp. is raising mortgage insurance premiums for homebuyers with less than a 10 per cent down payment by about 15 per cent, effective June 1. Premiums for homebuyers with a down payment of 10 per cent or more and for CMHC's portfolio insurance and multi-unit insurance products are unchanged.  The changes do no...Read More

How micro condos are facing their first real test in Canada this year

By: Rita Garami

How micro condos are facing their first real test in Canada this year

Tags: REAL ESTATE NEWS, REAL ESTATE REGULATIONS, HOMES FOR SALE IN TORONTO AREA, OAKVILLE REAL ESTATE, MLS LISTINGS,CONDO LIVING, APARTMENTS

  Do you think you could cook, eat, bath and sleep in a condo that's 300 square feet (less than 30 square metres) in size? The appeal of so-called shoebox condos — no larger than the size of two average living rooms — will face its first real test in Canada this year, with an influx of the compact homes set to hit the country’s largest real estate market Investors ...Read More

What happens if the registered real estate professional is a relative of the buyer or the seller? Is this allowed?

By: Rita Garami

What happens if the registered real estate professional is a relative of the buyer or the seller? Is this allowed?

Tags: Real estate news, Real estate regulations, Homes for sale in Toronto area, Oakville Real Estate, MLS Listings

If real estate agent related to buyer or seller, full disclosure is critical   On occasion, a registered real estate professional may be related to the buyer or the seller of a home. The agent could also be the buyer or seller. This is acceptable so long as the real estate rep follows rules set out in the legislation that regulates the real estate brokerage industry. The general rule is...Read More

By: Rita Garami

Lawyers exempt from money-laundering law, FINTRAC

Tags: Fintrac, Real Estate News, Real Estate Regulations

Sections of the federal government’s anti-terrorism and money laundering financing law are unconstitutional because they violate solicitor-client privilege, the Supreme Court of Canada declared Friday. In a 7-0 ruling, the court carved out an exemption for lawyers from the federal government’s 2000 law that targets money laundering and terrorist financing. The law still applies to oth...Read More

By: Rita Garami

The $700,000+ mistake nearly 6 in 10 millennials may make

Tags: Rent vs Buy, First Time Home Buyers, Rebates for Buyers, Greater Toronto Area Real Estate, Condos, Homes for Sale

      Renting – the $700,000 mistake? This story about the preference of U.S. millennials to rent rather than buy a home is presented to highlight the incomplete math that is often used to make a case for ownership. With today’s low rates, it’s said to be cheaper to buy in U.S. cities than rent, even with insurance and property taxes. Not mentioned are the upkeep, ...Read More

By: Rita Garami

Real estate flippers beware, the taxman is watching

Tags: House prices,Homes in Toronto,Real Estate Flipping, Buy and Sell Real Estate,

With the economy in turbulence, some Canadians have openly started to wonder whether our housing market may be next. Despite that possible scenario, the temptation to buy, renovate and then sell real estate at a profit is still irresistible for many.  You should be aware, however, that if you are indeed successful in making a profit from your real estate activities, the taxman will be watchi...Read More

By: Rita Garami

2015 Bank of Canada rate cut - Canada's major banks are heading into a renewed mortgage price war.

Tags: Bank of Canada, Mortgage interest rates, Homes for sale, Oakville real estate, Buyers incentives

Royal Bank of Canada dropped its five-year fixed rate for qualified borrowers to 2.84 per cent over the weekend. While smaller, non-bank lenders have started offering even cheaper rates, RBC's rate cut is likely a record for a major bank. The bank also slashed its posted 10-year fixed rate to 3.84 per cent, the lowest nationally advertised rate in the country. RBC spokesman Wojtek Dabrowski s...Read More

By: Rita Garami

Buyer Representation Agreements - Who is representing Who ...

Tags: Buyer Representation Agreement, Real Estate Agent, Client vs Customer, Toronto Real Estate

    Question: What types of representations out there for Buyers in Ontario?  When it comes to just about every kind of contract, signing on the dotted line makes us all a little bit nervous. When selling a home, most people are aware they sign a Listing Agreement with a REALTOR®. There is, however, an agreement that REALTORS® ask their home buyers to sign. The Real Est...Read More

By: Rita Garami

Oakville residential real estate market, showed strong growth in 2014.

Tags: Homes in Oakville, Real Estate for sale in Oakville, Oakville Real Estate statistics,

  OAKVILLE The market for residential real estate in Oakville, an affluent community situated on the shores of Lake Ontario between Toronto and Hamilton, showed strong growth in 2014. The average residential sale price rose 12 per cent over the previous year, to approximately $800,000 in 2014 from $715,000 in 2013. With less inventory on the market than...Read More