Found 2 blog entries tagged as interest rate.

Analyzing the Impact of This Week’s Interest Rate Hike on Toronto's Housing Market

The recent interest rate hike by the Bank of Canada has significant implications for the housing market in Toronto. In this blog post, we will examine the details provided in the Bank's press release and explore how this interest rate increase may affect homeowners, prospective buyers, and the overall housing landscape in Toronto.

 

Economic Outlook and Housing Market:

While the global economy is experiencing mixed conditions, Canada's economy has shown unexpected strength. The housing market has improved as a result of robust demand, driven in part by factors like immigration-related population growth. However, the Bank expects consumer spending to slow down as…

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Toronto Real Estate Market Update: Key Trends and Insights for April 2023

 

The Toronto housing market has experienced its fair share of ups and downs over the past year, with volatile home prices and rising mortgage rates. However, recent home sales data indicates that this spring could be a promising season for buyers as well as sellers. 

 

What happened in March 2023?

The Toronto real estate market experienced a massive shift between March 2022 and March 2023. While the home prices were significantly lower year-over-year, there was an improvement in sales and prices month-over-month. 

 

According to the latest report from Toronto Regional Real Estate Board (TRREB), the average home price reached a high of $1,298,666 in March 2022.…

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