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Mississauga, Brampton and Greater Toronto Area (GTA) Real Estate Market Bounces Back with Increase in Sales and Home Prices in June 2020

Tuesday Jul 7th, 2020

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Toronto Real Estate Market Watch

Mississauga, Brampton and Greater Toronto Area (GTA) Real Estate Market Bounces Back with Increase in Sales and Home Prices in June 2020 TORONTO, ONTARIO, July 7, 2020 – Toronto Regional Real Estate Board President Lisa Patel announced that Greater Toronto Area REALTORS® reported 8,701 sales through TRREB’s MLS® System in June 2020. This result represented a very substantial increase over the May 2020 sales result, both on an actual (+89 per cent) and seasonally... [read more]

Home Prices Hold Steady as Real Estate Sales Drop by 53.7% in May 2020 in Mississauga, Brampton and Toronto (GTA) Area

Wednesday Jun 3rd, 2020

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May 2020 Real Estate Sales Prices

Home Prices Hold Steady as Real Estate Sales Drop by 53.7% in May 2020 in Mississauga, Brampton and Toronto (GTA) Area TORONTO, ONTARIO, June 3, 2020 – Toronto Regional Real Estate Board President Michael Collins released the following key housing market statistics for May 2020: TRREB MLS® System Sales and New Listings • Greater Toronto Area REALTORS® reported 4,606 sales through TRREB’s MLS® System in May 2020. This result was down by 53.7 per cent... [read more]

CMHC Tightens Mortgage Insurance Rules Starting July 1

Friday Jun 5th, 2020

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CMHC Tighten Insured Mortgage Rules

CMHC Tightens Mortgage Insurance Rules Starting July 1 The government-backed Canada Mortgage and Housing Corp said on Thursday it would tighten rules for offering mortgage insurance from July 1, 2020. The move would make it harder for riskier borrowers, who offer downpayments of less than 20 per cent to access CMHC's default mortgage insurance. CMHC is establishing a minimum credit score of 680 instead of the current 600, the group said in an emailed statement. It will... [read more]

How's the Mississauga Brampton & Toronto (GTA) Real Estate Market Now?

Thursday Jun 4th, 2020

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How' the Real Estate Market Now?

How's the Mississauga Brampton & Toronto (GTA) Real Estate Market Now? This is a very common question being asked to me these days. Traditionally, spring is one of the busiest times of the year for real estate. But the corona virus outbreak—and subsequent stay-at-home orders—led many buyers and sellers to put their moving plans on hold. So I looked at today's market data and the sold properties in the Region of Peel, particularly Brampton area. Please... [read more]

Bank of Canada maintains target for the overnight rate

Wednesday Jun 3rd, 2020

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Bank of Canada Maintains Overnight Rates

Bank of Canada maintains target for the overnight rate The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. Incoming data confirm the severe impact of the COVID-19 pandemic on the global economy. This impact appears to have peaked, although uncertainty about how the recovery will unfold remains high. Massive policy responses in... [read more]

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