Drummond, a former TD economist who advised Canadian prime ministers, believes the ultra-low rates of the last decade were an aberration. “Many people, for many years, have said that rock-bottom interest rates are the new normal. I never believed that,” he said at the Mortgage Professionals of Canada national conference last month. “Obviously it was … Read more
By Sammy Hudes The council said 6,658 homes changed hands last month in the Greater Toronto Area, up 44.4 per cent from 4,611 in the same month last year. Sales increased 14% from September on a seasonally adjusted basis. The average sales price increased 1.1% from a year earlier to $1,135,215. The composite reference price, … Read more
Although everyone has been enjoying incredible fall weather, it’s not just the temperature that’s rising. It appears the bond market is taking a cue from Mother Nature and heating up as well. While I would hate to go against the chorus of real estate agents saying you have to buy now to afford a home, … Read more