Categories for Industry News

Mortgage Stress Test Changes on June 1, 2021

Canada’s banking regulator has proposed changes that would strengthen the stress test applied to uninsured mortgages. The Office of the Superintendent of Financial Institutions (OSFI) unveiled its proposed changes on Thursday April 8th, which would require borrowers applying for uninsured mortgages—typically those with more than a 20% down payment—to qualify ...

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Can REALTORS®—or Clients—Secretly Record Potential Buyers?

Smile! You’re being secretly recorded. Oh, the joys of privacy law! With more twists and turns than an Agatha Christie novel, it truly is the gift that keeps on giving… if you’re a privacy lawyer. For normal people, maybe not so much. Perhaps it’s because of the warmer weather that’s ...

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Federal Budget 2021: What You Need to Know

Courtesy Canadian Real Estate Association Last month, Finance Minister Chrystia Freeland tabled the federal government’s first budget in more than two years. The budget includes $100 billion in stimulus measures to assist economic recovery as Canada moves through the pandemic, with a heavy emphasis on child care and climate change. ...

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One Quarter of Canadians Aged 25 to 35 Purchased a Property During Pandemic

According to a recent Royal LePage demographic survey, nearly half (48%) of Canadians aged 25 to 35 currently own their home, and 25 per cent of these homeowners purchased a property during the pandemic. Royal LePage reports, that among non-homeowners, there is a strong intention to purchase in the future ...

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Further Restrictions Imposed in Light of Record COVID-19 Numbers

To keep you abreast of developments in local real estate, I share this notice to members of the Toronto Regional Real Estate Board with you. The province has announced several major new public health restrictions in an effort to deal with record daily COVID-19 case counts and intensive care admissions. ...

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Super-strong Housing Market Is Far from Risk-free

RBC Economics Publishes – Canadian Housing Health Check, March 2, 2021 By Robert Hogue A report for an assessment of key Canadian housing market indicators. This is a report worth your time reviewing because it gives a lenders perspective on the current housing climate. Here are some of the highlights…link to ...

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Consumer Choice Award 2021

Each year across Canada, the Consumer Choice Award gathers the opinions of thousands of consumers and businesses and selects the top ranked companies as winners within each industry. “A business to believe in”…is their moto. Terrequity is very pleased to announce Royal LePage Terrequity Realty has been awarded the Consumer ...

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Real Estate is Deemed an Essential Service but it is not “business as usual”

  The Government has created a list of 75 “essential” services, which are businesses that are allowed to stay open, including “Land registration services, and real estate agent services and moving services.” Why was “real estate” deemed essential?  REALTORS® asked for the essential service designation and for the Land Registry Office to ...

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SUMMARY – TRREB’s 2021 Market Year in Review and Outlook Report

The outlook for the GTA real estate market is healthy with strong buying intentions, a near-record sales forecast of more than 100,000, and a record average selling price over $1 million. “The pandemic certainly resulted in an unprecedented year for real estate in 2020, but it hasn’t put a damper ...

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NOW AVAILABLE: TRREB’s 2021 Market Year in Review and Outlook Report

The wait is over! Toronto Regional Real Estate Board‘s 2021 Market Year in Review & Outlook Report is now available for download and viewable in PDF. This year’s report subtitled “Through and Beyond COVID-19,” explores some of the most important market issues affecting the real estate industry today. Backed with ...

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