Ontario plans to temporarily expand HST relief on eligible new homes, with the full $130,000 rebate available up to $1.5M, then phasing down to $24,000 at $1.85M and above.
https://t.co/QiDok1qpBy
Do you believe current interest rate levels are the reason for this real estate market?
When a qualified homebuyer can obtain a rate in the high 3% range and make an offer on a home that, in many cases, is less expensive than before?
Rates?
Home prices?
Both?
Something else?
Seeing & hearing an unprecedented rise in frequency & complexity of financial schemes.
Mind manners, but normalize asking friends & family, especially seniors, if they’ve received strange calls, emails or 'investment' offers.
Stay vigilant out there.
🔎A developer is now offering a 2026 Cadillac SUV or $85K cash value towards the purchase price of 1-3 bedroom condo apartment unit purchases in Markham.
You’d have to run the numbers and take into account a futures purchase, but interesting nevertheless.
25bps rate cut
Illustration of monthly interest from market peak to present (pre-adjusted +/- for HELOC/variable):
March ’22: $500K @ 2.70% = $1,125/m
July ’23: $500K @ 7.20% = $3,000/m (+167%)
Sep ’25: $500K @ 4.45% = $1,854/m
Still up 65% from the low.
@bankofcanada
🔎What's new in the private lending space? Pricing competition: private money starting as low as Prime + 1.10% (plus fees). Why? Prioritizing lower yields over higher risk. Issue? When do lower returns become unacceptable to investors & are there enough low-risk deals out there?
25bps rate cut
Illustration of monthly interest from market peak to present (pre-adjusted +/- for HELOC/variable):
March ’22: $500K @ 2.70% = $1,125/m
July ’23: $500K @ 7.20% = $3,000/m (+167%)
Sep ’25: $500K @ 4.70% = $1,958/m
Still up 74% from the low.
@bankofcanada