Six Major Canadian banks will allow customers to defer mortgage payments for up to six months
Canadian banks move to help customers, allow deferral of mortgage payments
Canadian banks move to help customers, allow deferral of mortgage payments
The Bank of Canada slashed interest rates Friday for the second time this month, a move that came as sentiment had begun to darken in the country’s real estate market with the spread of the COVID-19 crisis.
Home sales in the Greater Toronto Area reached 4,581 last month, according to the Toronto Regional Real Estate Board, a 15-per-cent increase over January last year, when activity slowed because of tougher borrowing rules, higher interest rates and a 15-per-cent tax on foreign buyers of real estate.
In August, sales of detached homes in the 905 region outside Toronto climbed by 25 per cent over last year, accounting for almost 40 per cent of all homes of any type sold in the Greater Toronto Area.
JANET MCFARLAND - REAL ESTATE REPORTER
PUBLISHED JULY 15, 2019
Read moreCapital appreciation shouldn’t currently be the key consideration, but there are opportunities in income generation if you look carefully.
Shawn Zigelstein weighs in on the effect the Stress Test has on both new buyers and current homeowners.
Shawn Zigelstein weighs in on the effect the Stress Test has on both new buyers and current homeowners.
Shawn Zigelstein discusses what we can expect for sales throughout the year
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