Virtually every industry has experienced some sort of increase in costs due to rising inflation rates. With costs continuing to rise in recent months, some may be wondering why they rise in the first place and how the Canadian inflation rate is calculate. Here's a brief explanation of inflation and its effect on Canada's economy.What Is Inflation?Inflation, in its simplest terms, is the rise ...
In this age of seemingly soaring interest rates, first-time homebuyers are uniquely disadvantaged. While everyone is feeling the pinch of recent announcements from the Bank of Canada if first-time home buyers couldn’t catch a break during the times of remarkably low-interest rates, what hope do they have now? Advice From Experienced REALTORS ® You can shop once you know the amount of t ...
Sometimes, a story will appear in the news: “Condo buyers caught off guard by high closing costs.” Someone purchases a condo or other property without doing their homework. As the sale goes through, they’re surprised to find that closing costs are higher than expected due to fees that they didn’t budget for, especially in Toronto. It’s unfortunate that high closing c ...
The latest statistics show fewer people than ever are adequately planning for retirement. With more people being part of the ‘gig’ economy (i.e. independent contractors, online platform workers, contract firm workers, on-call workers and temporary workers), planning for a comfortable retirement is more heavily weighted on the individual than ever before. Creating a healthy, ...
The Ontario government announced sweeping housing changes that will override municipal zoning laws in some situations and allow for the construction of up to three units on each residential lot. Elements of the new legislation were first presented publicly at a ticketed Toronto Region Board of Trade event attended by Premier Doug Ford and Municipal Affairs Minister Steve Clarke. Speakin ...
A home equity line of credit (HELOC) is a kind of secured financing. Your home equity serves as a guarantee to the lender that you will repay the loaned funds. This is known as a type of "revolving credit" loan. As a revolving credit loan, you may borrow money up to the credit limit stipulated in your contract, pay it back, and then borrow it again. HELOCs are different from home equity loans and ...
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