Monday, July 17, 2023 / by Evelyn Lopes- Klarine
Are you dreaming of owning a home within the Toronto GTA, but feel lost in the twists and turns of today's housing market? Check out this blog where you will uncover tips to guide you through creating a rock-solid plan to make that dream home yours.
In the ever-evolving real estate landscape, the urgency for a robust real estate strategy has never been greater. Faced with unprecedented market dynamics and fierce competition, your journey towards homeownership must be underpinned by a comprehensive plan.
Understanding the Basics Real estate isn't merely about purchasing a property - it's about making a long-term investment. With the Toronto GTA’s dynamic market, a clear understanding of the fundamental principles of home financing is critical. The process can be complex, but it becomes manageable when you fully comprehend the basics.
Economic Factors Influencing the Real Estate Market To create a winning strategy, you need to understand the economic indicators that play a ; ...
Read More
real estate, evelyn lopes realty team, mortgage, market watch, mortgage rates, mortgage broker, mortgage lender, mortgage renewal, market update, bank of canada, high interest rates, realty bites, realty bytes
Thursday, July 13, 2023 / by Evelyn Lopes- Klarine
In a move that comes as no surprise to industry analysts, the Bank of Canada has hiked its overnight interest rate by 0.25% to 5% on July 12th, 2023. The increase, which is part of an ongoing policy of quantitative tightening, was triggered by "an accumulation of evidence" highlighting the persistence of excess demand and elevated core inflation.
This marks the tenth interest rate hike by the Bank since March 2022 and is expected to lead to banks raising their prime rates to 7.20%. The policy shift, while expected, has sparked concern among observers and is likely to have an immediate impact on variable mortgage rates.
The Bank's decision was informed by several factors, including a Canadian economy that is demonstrating greater resilience than expected. Despite predictions of consumer spending slowing down due to successive increases in interest rates, recent retail trade data indicates that excess demand remains persistent.
A significant problem is the ho ...
Read More
real estate, evelyn lopes, evelyn lopes realty team, caledon real estate, brampton real estate, orangeville real estate, caledon, real estate market, erin real estate, mortgage, mortgages, bank of canada, high interest rates, interest rates
Thursday, July 13, 2023 / by Evelyn Lopes- Klarine
In a move that comes as no surprise to industry analysts, the Bank of Canada has hiked its overnight interest rate by 0.25% to 5% on July 12th, 2023. The increase, which is part of an ongoing policy of quantitative tightening, was triggered by "an accumulation of evidence" highlighting the persistence of excess demand and elevated core inflation.
This marks the tenth interest rate hike by the Bank since March 2022 and is expected to lead to banks raising their prime rates to 7.20%. The policy shift, while expected, has sparked concern among observers and is likely to have an immediate impact on variable mortgage rates.
The Bank's decision was informed by several factors, including a Canadian economy that is demonstrating greater resilience than expected. Despite predictions of consumer spending slowing down due to successive increases in interest rates, recent retail trade data indicates that excess demand remains persistent.
A significant problem is the hous ...
Read More
real estate, evelyn lopes, evelyn lopes realty team, caledon real estate, brampton real estate, orangeville real estate, caledon, real estate market, erin real estate, mortgage, mortgages, interest rates, high interest rates, bank of canada