First Toronto Mortgage

The effects of the Coronavirus are real!

Bank of Canada lowers overnight rate target to 1 ¼ percent The Bank of Canada today lowered its target for the overnight rate by 50 basis points to 1 ¼ percent. The Bank Rate is correspondingly 1 ½ percent and the deposit rate is 1 percent.

https://business.financialpost.com/real-estate/toronto-home-prices-jump-the-most-since-2017?fbclid=IwAR3Bgr0PIfb2xm2S-0B9eLR_oXs45G7Nhd5NdyK2L5QMqvcLJMPV96Qn43A

Toronto housing prices jump the most since 2017 — the year the market peaked Sales jumped 14%, with detached and townhouses leading the biggest gains

Looking for information on the First Time Home Buyer Incentive?

Canada's First Ever National Housing Strategy | A Place to Call Home Canada’s National Housing Strategy is a 10-year, $40-billion plan to strengthen communities and cut chronic homelessness in half. The ambitious strategy will remove 530,000 families from core housing need and completely change the face of housing in Canada.

Just released...New promo rate of 2.69% 5-year fixed!

It doesn't get much more balanced than this. Average sales price and number of sales pretty much even versus last year.

Mortgage rates keep getting lower and lower! Right now you can get as low as 2.94% 5-year fixed!

www.FirstTorontoMortgage.com

The soft landing has arrived. In February 2019, average sales price was up 2% and the number of sales down by 2% in the GTA. Finally we have stability.

Market Watch - February 2019

Greater Toronto Area REALTORS reported 4,009 home sales through TREB's MLS in January 2019 – up by 0.6 percent compared to January 2018. On a preliminary seasonally adjusted basis, sales were up by 3.4 per cent compared to December 2018.

The most promising number is the increase in new listings, new listings in January 2019 were up by 10.5 percent compared to January 2018.

Prices fairly stable for 2018. Number of sales (demand) and number of listings (supply) all down. Did Toronto have a soft landing?

Market Watch - December 2018

Prices up in November 2018 (vs November 2017). Number of sales down by almost 15%, but number of new listings down even more. The net effect is a lower supply of listings versus demand from buyers, which will continue to increase prices.

Market Watch - November 2018

Number of sales up 6% and average sales price up 3.5% (vs October 2017) in the GTA.

Market Watch - October 2018

3.33% GIC rate for a 3 month term...pretty good deal.

Guaranteed Investment Certificates (GICs) | EQ Bank EQ Bank Guaranteed Investment Certificates (GICs) come with high rates that are yours to keep. Plus, you'll grow your savings faster with our special terms. See how you can get your money working harder with secure protection on your deposits with CDIC eligibility.