Blog by Tomasz Wdowczyk

2012 Market Update

November 16th, 2012

November 2012 Market Update

The Canadian national housing market remains stable with firmly balanced inventory levels & low interest rates. The Bank of Canada announced October 23th, 2012 that it is keeping its key policy rate at 1%, where it has been left unchanged for 2 years. This marks the longest period since the 1950s that rates have been held steady. The Bank realistically expects an in ...

MARKET REPORT

November 8th, 2012

November 5, 2012 -- Greater Toronto Area  reported 6,896 transactions through the TorontoMLS system in October 2012 – a decrease of 7.1 per cent compared to October 2011. 

Sales have decreased in the second half of this year compared to 2011, especially since the onset of stricter mortgage lending guidelines at the beginning of July. The prospect of higher monthly mortgage payments due to th ...