Interest Rates Rise Yet Again and are Expected to Rise Again in July
On June 7th, the Bank of Canada raised the key interest rate 25 basis points, bringing the key rate to 4.75%. This is the highest key interest rate Canada has seen since 2001. The prime rate now sits at 6.95%. According to the Bank of Canada, our stronger-than-expected economy is the reasoning
May 2023 Market Update
From a sales perspective, the Greater Toronto Area housing market continued to improve in May 2023. However, the supply of homes available for sale did not keep up with the demand for home ownership. Competition between buyers has increased substantially compared to the same time last year, bring
April 2023 Market Update
The GTA housing market continued to tighten in April 2023. On a year-over-year basis, sales were down and new listings were down by more than one-third. Fewer listings relative to sales meant there was more competition between buyers, supporting higher selling prices compared to the beginning
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