Real estate newsletter - latest articles.
Price Strategically—Not Emotionally
How Interest Rates Work
In This Issue:
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How To Get Top Dollar Without Losing The Deal — How to price, position, and negotiate for the best outcome while keeping the buyer (and the closing) on track.
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How Interest Rates Really Affect Your Buying Power — See how even small rate changes can shift affordability, monthly payments, and buyer demand in today’s market.
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Beyond The Mortgage: What It Really Costs To Own A Home — From taxes and insurance to repairs, maintenance, and surprise expenses, this guide breaks down the real costs of homeownership.
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How To Get Top Dollar Without Losing The Deal
Summary
Every seller wants the highest price—but pushing too hard can cause your deal to fall apart. Getting top dollar without losing the buyer requires balance, timing, and a smart strategy. This report walks you through the key tactics to maximize your sale price while still closing smoothly. Learn how to price, negotiate, and position your home so it draws strong offers that actually lead to a successful sale.
The dream scenario for every home seller? A fast sale at top dollar with minimal hassle. But that doesn’t happen by accident—it requires skillful pricing, smart staging, and sharp negotiation. Many sellers lose great offers by being inflexible, too aggressive, or unprepared. Here’s how to walk the line and come out ahead.
Price Strategically—Not Emotionally
Top dollar doesn’t mean the highest number you can dream up—it means the most the market is willing to pay. Overpricing turns away serious buyers, while underpricing can leave money on the table. Use a comparative market analysis (CMA), local trends, and your agent’s advice to set a price that draws interest and builds momentum.
Attract Competition, Don’t Chase ItA competitively priced home with broad appeal can spark multiple offers, which drives the price up naturally. Listing too high narrows your buyer pool and reduces the likelihood of competition. Remember: the more buyers see your home, the more likely you’ll get a strong offer.
Nail the PresentationHomes that show well sell for more. Declutter, clean deeply, and consider light staging to highlight your home’s best features. Bright lighting, fresh paint, and neutral tones can create the emotional connection that makes buyers bid higher.
Offer Incentives That Don’t Cost You MuchSometimes offering a flexible closing date, a home warranty, or including appliances can sweeten the deal without reducing the sale price. These small perks can set your listing apart and help close the deal when buyers are on the fence.
Be Smart in NegotiationsTop dollar doesn’t mean refusing to budge. Be prepared to negotiate—and focus on the net value of the offer. A slightly lower price with fewer contingencies, a faster close, or stronger financing may be more valuable than a high price with complications.
Evaluate More Than Just PriceDon’t fixate on the offer price alone. Consider:
- Financing method (cash vs. mortgage)
- Buyer’s down payment
- Requested contingencies (inspection, appraisal, sale of another home)
- Timeline for closing
- Earnest money amount
A “clean” offer that’s slightly lower may be far better than a risky high offer with lots of strings attached.
Respond Quickly to Serious InterestDelaying negotiations can cool off hot buyers. When you receive a good offer, act fast. Counter if needed, but avoid dragging it out unnecessarily. Sellers who respond quickly signal that they’re serious and cooperative—qualities that buyers appreciate.
Avoid the Pitfalls of Over-NegotiatingPushing for too much—extra days, extra concessions, higher deposits—can frustrate buyers and derail a deal. Work with your agent to craft a counteroffer that’s strong but fair. The goal is a win-win outcome that keeps the buyer engaged.
Prepare for the AppraisalIf the buyer is financing the home, the deal is subject to a lender’s appraisal. If the appraisal comes in low, you may need to negotiate again. Provide a list of recent upgrades and a copy of your CMA to help justify the price. Be ready with a plan in case the appraisal falls short.
Keep Emotions in CheckRemember, selling a home is a business decision. It’s easy to take negotiations personally or feel insulted by low offers. Stay calm, focused, and strategic. Your agent is your buffer—use their experience to avoid emotional decision-making.
Conclusion:
You can absolutely get top dollar for your home—but you need a game plan. The key is to attract serious buyers, make a great impression, and negotiate with confidence. By staying focused on the big picture and working with a skilled agent, you’ll get the price you deserve—without losing the deal in the process.
How Interest Rates Really Affect Your Buying Power
Summary
Interest rates are one of the biggest factors affecting how much home you can afford, but most buyers and sellers overlook their full impact. This report explains how even small rate changes can drastically shift monthly payments, buyer demand, and overall affordability. Whether you’re entering the market or planning a move, understanding interest rates gives you a powerful edge.
It’s easy to focus on list prices and offers when shopping for a home, but what really determines your monthly cost (and your approval odds) is the interest rate. Interest rates fluctuate based on inflation, economic trends, and monetary policy and they directly affect buyer affordability, seller pricing, and market momentum.
How Interest Rates Work
When you take out a mortgage, you’re borrowing money from a lender. The interest rate is the cost of that borrowing, expressed as a percentage of the loan amount.
Example:
Loan amount: $400,000
Rate: 4.5%
Monthly principal & interest: ~$2,027
At 6.5%, that same loan costs ~$2,528/month. That’s a $500/month difference, or $180,000+ over the life of the loan.
Your lender calculates your debt-to-income ratio (DTI) when deciding how much you can borrow. Higher rates mean higher payments, which may lower the price range you qualify for.
Higher rates can:
- Reduce your buying power
- Limit your home options
- Affect your ability to qualify
- Increase long-term interest costs
Lower rates do the opposite; giving you more flexibility and access to better properties.
Why It Matters for SellersInterest rates don’t just affect buyers but shape the entire market.
When rates rise:
- Buyer demand may drop
- Homes may sit longer
- Price growth may slow or stall
When rates fall:
- More buyers enter the market
- Competition increases
- Sellers may receive higher offers
Understanding buyer psychology in response to rates helps sellers set smarter prices and anticipate offer activity.
How to Estimate the ImpactUse a mortgage calculator to test different rates on the same loan amount. The results show just how much a 0.5%–1% shift can affect your payment and whether you’re stretching your budget.
Rate vs. Price: Which Matters More?Many buyers ask: “Should I wait for prices to drop?” But often, waiting means risking higher rates. A lower rate with a slightly higher price can still result in a lower monthly cost and more equity over time.
Tips to Maximize Your Buying Power- Get pre-approved with a lender and ask for a rate quote.
- Improve your credit score; higher scores unlock better rates.
- Consider buying mortgage points (pay upfront to lower the rate).
- Compare fixed vs. adjustable rate options.
- Ask about first-time buyer or special financing programs.
Watch updates from:
- Bank of Canada (Canada)
- Federal Reserve (U.S.)
- Mortgage lenders’ weekly rate reports
- Real estate or mortgage advisors
Rates often move in response to inflation reports, employment numbers, and global economic events.
In real estate, interest rates are just as important as property prices. Even a slight rate change can reshape your entire budget and influence what homes you can consider. Whether you’re buying or selling, keeping an eye on rates helps you make smarter, faster, more informed decisions.
Beyond The Mortgage: What It Really Costs To Own A Home
Summary
The true cost of owning a home goes well beyond your mortgage. From taxes and insurance to repairs, maintenance, and lifestyle changes, there's a lot to consider. This report covers all the real-world costs you'll face as a homeowner and how to prepare for them. It's essential reading for buyers who want to avoid surprises and enjoy stress-free homeownership.
When budgeting for a new home, most buyers focus on the mortgage. But homeownership brings a whole category of costs that extend far beyond that monthly payment. From taxes and insurance to maintenance, repairs, and even lifestyle changes, owning a home comes with responsibilities and expenses that renters don't face. This guide reveals the true cost of homeownership, helping you plan better and avoid surprises.
1. Property TaxesProperty taxes are due annually or semi-annually, based on your home's assessed value and local tax rates. They can range from a few hundred dollars a year to tens of thousands, depending on where you live. These taxes often increase over time, especially if your home's value goes up. Many buyers pay them through escrow, bundled into their monthly mortgage payment, but you're still responsible for the full amount.
2. Homeowners InsuranceLenders require homeowners insurance to protect your property from disasters, theft, and liability. Premiums vary based on your location, the home's age and construction, and your coverage choices. Expect to pay anywhere from $500 to $2,500 per year, or more in areas prone to wildfires, hurricanes, or flooding. Optional extras like earthquake or flood insurance can raise costs significantly.
3. Private Mortgage Insurance (PMI)If your down payment is less than 20% on a conventional loan, you'll likely have to pay PMI. This protects the lender, not you, in case you default. PMI usually costs 0.3â1.5% of your loan amount per year. You may be able to cancel it once you build 20% equity.
4. Utilities and ServicesAs a homeowner, you'll take on full responsibility for electricity, water, natural gas, trash removal, internet, and possibly septic or well maintenance. Utilities typically cost $200â$600+ per month and fluctuate by season.
5. Maintenance and RepairsExperts recommend setting aside 1â3% of your home's value annually for maintenance. Thatâs $3,000â$9,000 per year on a $300,000 home. Some years are quiet; others bring major replacements.
6. Lawn, Landscaping, and Snow RemovalYard care, lawn maintenance, and snow removal can cost $100â$300+ per month depending on property size and season. HOA fees may include some services.
7. Homeowners Association (HOA) FeesHOA fees range from $50 to $500+ per month and typically cover shared amenities and community upkeep.
8. Appliances and FurnitureNew homeowners often need to purchase or replace appliances and furniture. Budget $3,000â$10,000 depending on quality and needs.
9. Renovations and UpgradesEven minor upgrades can cost thousands, while major renovations like kitchens or bathrooms can cost tens of thousands.
10. Emergency Fund for the UnexpectedUnexpected repairs happen. Financial planners recommend $5,000â$10,000 in accessible savings for home-related emergencies.
11. Pest Control and Routine InspectionsRoutine inspections and pest control can cost $150â$400 per visit but help prevent costly long-term damage.
12. Security and Smart Home SystemsSecurity systems often require $200â$1,000 upfront and $10â$50 per month for monitoring.
Conclusion:
Owning a home is deeply rewarding, but it comes with expenses far beyond the mortgage. Buyers who plan for the full picture enjoy the benefits of ownership without financial stress. Plan smart now, and your home will be a source of comfortânot concern.
Bidding wars infiltrate Montreal’s rental market amid housing shortageThalita Costa de Moraes says she and her husband spend hours online every day, hoping to find a home for their growing family. She says the process goes far beyond just making an offer. “Write a letter, explain why you want to live here, tell the landlord about your family,” she explains. All the same, the family says they’ve been turned down three times – despite at one point offering $550 a month extra. The winning bid? $800 over asking. “We didn’t know how much more we should offer because of course we wanted to get the house, but we’re not going to offer twice as much money,” she said.
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‘Made-in-Ontario’ homes could be the key to solving the province’s housing crisisOntario is facing an affordability and supply crisis. With increasing demand, rising prices and housing starts down significantly, the Ontario Real Estate Association argues that the province must look to alternative methods to meet its housing targets. In a new report, Building More, Building Faster, OREA advocates for factory-built housing—commonly referred to as modular or prefabricated—as a key part of the solution.
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MORTGAGES Homebuyer warning: Mortgage mistakes to avoidWayne and Kathy Paquette thought they’d found the perfect retirement plan: a sleek floating home on the water, no property tax, no snow to shovel, and a fraction of the cost of a traditional house. They paid $265,000 to a man named Joe Nemins from a company called Live on The Bay. No home was ever delivered.
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RETIREMENT Avoid these retirement regrets, say seniorsIn a short but powerful street-style interview video, a YouTube creator with more than a million subscribers asked retirees, aged 70 and older, about their biggest regrets, life advice, and what they’ve learned as they aged. Turns out their advice could be drilled down into six important tips that can help you find happiness, live life to the fullest and avoid financial pitfalls.
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What Canadians really want in their homes in 2025, according to a new surveyOne of the standout trends is the increasing demand for homes with separate entrances, particularly in Canada’s priciest provinces. A separate entrance is notably important to respondents in British Columbia (27 per cent) and Ontario (20 per cent).
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CIRA’s guide to spotting CRA scamsAs tax season approaches, many Canadians may be feeling overwhelmed and stressed. Unfortunately, scammers are aware of this and prey on people’s anxieties to extract money and obtain unauthorized access to personal data and financial information.
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What does the Bank of Canada’s rate cut mean for the housing market?After the Bank of Canada cut the interest rate for the seventh time in a row Wednesday, experts say that’s good news for people looking to buy or sell a home in Canada. Home prices have been stable for the past two-and-a-half years and according to Phil Soper, Royal LePage president and CEO, who spoke with CP24 on Wednesday, the situation will get even better. However, Soper says the disruptions from the actions of U.S. President Donald Trump will create “pressure” and “stress” for would-be buyers and sellers.
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Buyer loses deposit after failing to close on home destroyed by fire
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407 ETR issues warning after increase in text message scamsThe 407 ETR says it has seen an increase in scammers posing as the company through text messages and fake websites.
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Is The Capital Gains Tax Hike Officially “Dead In The Water”?Mark Carney and Pierre Poilievre may not align on everything, but it seems they’re on the same page when it comes to the capital gains tax increase, which was introduced by the Liberals in April 2024 and would see the inclusion rate increased from 50% to 66.7%. For individuals, the higher inclusion rate would apply to gains over $250,000.
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Should Canadian retirees own or rent their home?Faced with the rising cost of living, many American retirees are looking to control one of the most fundamental expenses: housing.
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Tariffs set to slow pace of homebuilding in Canada |
GTA home sales down as mortgage costs, trade war weigh on buyersHome sales in the Greater Toronto Area fell by more than one-quarter in February compared with a year ago despite buyers maintaining “substantial” negotiating power.
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Are the stresses of everyday finances?For many, getting a good night's sleep is beyond finding an ergonomic pillow or taking some melatonin. Financial stress is weighing heavily on Canadians, with a new survey revealing that 60.4% of respondents go to bed worrying about money. The survey, conducted by Harris & Partners, a Canadian debt relief company, highlights the growing anxiety surrounding personal finances and the emotional toll of managing debt.
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Is now the right time to buy a Home?High interest rates have been the catalyst for a retreat in new and resale home purchases in Canada in recent years. But even as interest rates drop, homebuyers appear to be waiting on the sidelines rather than buying up ever-growing inventory. In fact, according to the latest data by The Toronto Regional Real Estate Board (TRREB), new home sales in the Greater Toronto Area (GTA) have hit record lows, signaling a significant shift in buyer confidence.
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Canada Home Sales Decline On Tariff UncertaintyUncertainty around tariffs and a potential trade war with the United States were the likely culprits behind home sales falling off during the last week of January, according to the Canadian Real Estate Association (CREA). That weakness pushed national sales down 3.3 per cent compared to December, CREA said in its latest housing report.
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Your grandparents knew a thing or two about managing moneyThe basics of managing your money successfully are as relevant today as they were when our grandparents came of age decades ago, writes Sandra Fry.
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How to file your taxes online in CanadaWhether you’re filing your taxes for the first time or looking for a better, cheaper way to do it, this short guide will show you how easy it is to file your taxes online in Canada. In truth, you can file your tax return online or by mail. But the Canada Revenue Agency (CRA) — Canada’s tax law administrator — considers filing online the fastest and easiest way to do your taxes. Quite often you can do it for free. The deadline to file your personal return for the 2024 tax year is April 30, 2025. So let’s dive into the why’s and how’s behind five simple steps that will make filing your tax online easier than you think.
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What it takes to retire with a comfortable $10,000/month in CanadaRetirement is the goal for many, but getting there can feel like a formidable but rewarding challenge. It takes preparation, diligence and patience to be able to accrue enough saved income in order to enjoy those golden years, especially suited to your individual circumstances and lifestyle preferences. It may take some extra effort, but putting in the work now to reap the rewards later is important. To help, here's a few tips on what it takes to retire with a comfortable $10,000 per month in Canada. For those between the age of 55 to 64, the median amount for saved for retirement breaks down to the following:
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CMHC predicts home sales, prices to rebound in 2025, but tariff threat clouds outlookCanada Mortgage and Housing Corp. is forecasting a rebound in home sales and prices this year as homebuyers take advantage of improved borrowing conditions, but says its outlook is clouded by the threat of widespread tariffs from the U.S. The national housing agency says a trade war between Canada and U.S., along with factors such as reduced immigration targets, would likely slow the economy and limit housing activity, even as some households see improved buying power in the short-term.
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Trump's 25% tariffs are on pause for now — So, what are tariffs and how can they impact your wallet and investment portfolio?Tariffs are taxes imposed on imported goods and services. A tariff is paid by the importing business — so if a Canadian business owner imports a good from the US, the Canadian business owner would have to pay a tariff imposed by the Canadian government on US goods. The most common form of tariff is ad valorem (Latin for, “according to value”). These tariffs are levied as a fixed percentage of the value of imports and are often used to raise revenue for government or to protect domestic industries.
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BMO forecasts 1.50% BoC rate by year-end if U.S. imposes tariffs on CanadaCanada received a temporary reprieve from U.S. tariffs for at least 30 days, but if enacted, BMO warns the Bank of Canada may be forced to cut its policy rate to 1.50% by year-end.
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5 money management tips for a successful retirementWhether you’re on the cusp of retiring or a few years (or decades) away, it’s never too late to implement smart money moves for a successful retirement. And with the start of a new year, it’s the perfect time to review your finances and make strategic decisions to safeguard and grow your wealth. To help, we've compiled five smart money moves designed to enhance your financial security and provide peace of mind during your retirement years. Use these money management tips to get your retirement savings on track.
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How families can lower gas and groceries billsChad Koch is the sole income earner of a family of seven and knows how pricy food can be. According to the 2025 Food Price Report, the average Canadian family of four spent more than $16,000 on groceries in 2024. On the other hand, Chad Koch spends up to $350 every two weeks on food and gas, (roughly $9,100 for the entire year), a much lower amount than the national average. The St. Albert resident told CTV News Edmonton, “Having as many kids as we've had, we've had to always try to make sure that we're doing the most cost-efficient grocery shopping we could." Here's how he is able to accomplish this spectacular feat against all odds.
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7 powerful ways the Bank of Canada’s rate cut could change your financial futureThe Bank of Canada (BoC) announced the first rate drop of 2025 — with a 25 basis point rate cut to its overnight rate. The rate cut of 0.25% was announced on January 29, 2025, following a 50 basis point cut in December 2024. The BoC's target rate now stands at 3.00% — pushing the bank prime rate to 5.20%. This latest rate reduction reflects the ongoing economic uncertainty due, in part, to global unrest, the threat of trade wars and a sluggish domestic economy. For most Canadians, the real question is how this latest rate cut will affect their everyday living costs and those saving for a large purchase, such as buying a home.
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What is the Bank of Canada interest rate?As of January 2025, the Bank of Canada interest rate is 3.00%. The January 29 announcement marks the first interest rate announcement of 2025. The next interest rate announcement will be March 12, 2025.
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What to expect from the Bank of Canada during the January 29 rate announcementThe Bank of Canada (BoC) is set to announce its latest target interest rate decision on January 29, 2025. This policy update is critical for Canada’s economic recovery amid global economic uncertainty. For businesses, households, and financial markets, the decision could signal the next steps in monetary policy after a year of easing inflation, resilient employment, and global trade challenges.
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First of its kind banking option for skilled tradespeople in CanadaThe CIBC Skilled Trades Banking solution will offer all apprentices in approved programs the opportunity for no-fee banking using the CIBC Smart Account.
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With declining interest rates and new lending rules, demand for housing in markets across Canada picks up in Q4Despite economic and political uncertainty – both in Canada and south of the border – a revival of our national real estate market is underway thanks to lower interest rates, changes to mortgage lending rules, and renewed buyer demand. Strong activity through the final months of 2024 in most major regions from coast to coast resulted in moderate price gains, nationally.
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Inflation ticks lower to 1.8% in DecemberOTTAWA -- Canada’s annual inflation rate fell to 1.8 per cent in December, thanks in large part to the federal government’s temporary tax break. Statistics Canada’s consumer price index report on Tuesday said restaurant food purchases, and alcohol bought from stores contributed the most to the deceleration. The federal government introduced a temporary pause on taxes to those items in mid-December, along with children’s clothing and some toys, among others.
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TREB Market WatchThe Greater Toronto Area (GTA) housing market experienced a transitionary year in 2024. Annual sales were up slightly compared to 2023, and new listings were up significantly year-over-year. Buyers benefited from substantial negotiating power on price, especially in the condominium apartment market. Average selling prices in 2024 dipped in comparison to 2023 as a result.
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Toronto area new condo sales saw steep decline in 2024The bad news keeps coming for the GTHA’s new condo market. A report from real estate analytics firm Urbanation, released Thursday, found that in 2024, new condo sales in the region totalled just 4,590, marking a 64 per cent drop from 2023.
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Simcoe County Monthly Residential ReportDecember Stats Release: See what's going on in the market!
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Development Charges Are Out of Control – New OREA PollRecent survey finds 1 in 4 aspiring homeowners have given up, reflecting a growing housing crisis described as “unaffordable” and “overpriced”.
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Housing unaffordability still rising despite billions in government measures: PBOThe report says 2.4 million Canadian households are now in “core housing need” -- 662,000 more than when Canada launched its national housing strategy in 2017. The national housing strategy aims to pull 580,000 households out of core housing need, or reduce their need, by 2028. But the PBO’s latest projections say the government is nowhere near reaching that goal.
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Canada's unemployment rate ticks downOTTAWA - Canada's labour market capped the year with some "good news," adding 91,000 jobs in December, shattering economist expectations, though there are still calls for further interest rate cuts amid the threat of U.S. tariffs.
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With declining interest rates and new lending rules, demand for housing in markets across Canada picks up in Q4Despite economic and political uncertainty – both in Canada and south of the border – a revival of our national real estate market is underway thanks to lower interest rates, changes to mortgage lending rules, and renewed buyer demand. Strong activity through the final months of 2024 in most major regions from coast to coast resulted in moderate price gains, nationally.
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Canadians' financial stress ramping up despite interest rate cuts"Despite interest rates decreasing, people are still concerned,"said Grant Bazian, president of insolvency firm MNP. The survey, conducted by Ipsos, found fewer Canadians expect their debt situation to improve in the coming year while a growing number believe it will worsen. More than half say they don't think they will be able to cover all their living and family expenses in the next year without accruing more debt. MNP's Consumer Debt Index, which measures Canadians' attitudes toward their debt and their ability to pay their bills,dropped to the second-lowest level since it began tracking in 2017. Meanwhile, Canadians' personal debt rating hit an all-time low. A third of respondents said they are insolvent, with women more likely than men to be $200 or less away from insolvency.
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2024 saw average rents fall for the first time since the pandemic, report says2024 saw average rents fall in Canada for the first time since the COVID-19 pandemic began in 2020, when rents fell 5.4 per cent, with Toronto seeing a 7.1 per cent decrease, a national rent report shows. In December, the average asking rent for all residential property types in Canada hit a 17-month low, falling by 3.2 per cent from last year to $2,109.
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2024 – a transitional year for the GTA housing market: TRREBAnnual sales saw a modest increase compared to 2023, while new listings surged significantly year over year. This influx of listings provided buyers with considerable leverage in price negotiations, particularly in the condominium apartment market. As a result, average selling prices in 2024 experienced a slight decline compared to the previous year. “Borrowing costs were top of mind for home buyers in 2024. High interest rates presented significant affordability hurdles and kept home sales well below the norm. The housing market did benefit from substantial Bank of Canada rate cuts in the second half of the year, including two large back-to-back reductions,” said TRREB president Elechia Barry-Sproule in the board’s release. “All else being equal, further rate cuts in 2025 and home prices remaining below their historic peaks should result in improved market conditions over the next 12 months.”
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7 Tips to give yourself a financial restart this New YearThis year, why not prioritize your financial well-being? The start of a new year is the perfect time to take control of your finances and set yourself up for success. Whether you’re recovering from holiday spending or simply looking to make smarter financial decisions, a fresh approach can help you achieve your goals. Taking a moment to reflect on your current habits, set achievable goals and create a realistic plan can make all the difference in building financial confidence.
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How much money do you need to earn to buy a house in Canada?The average income needed to buy a home keeps inching down in cities across Canada, according to the latest data. Mortgage rates continue to decrease, and in a lot of cities across Canada, real estate prices have also been easing over the past few months.
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Five reasons why home prices will rise 10% in 2025I aggressively predicted last year that the Bank of Canada would lower interest rates by two per cent and this would be the key theme of 2024. As it turns out, I was mostly correct since rates fell 1.75 per cent.
In 2025, the central bank has a little more room to lower rates, but the heavy lifting has been done. This leads to the big theme of 2025: the powerful return of residential real estate. In particular, single-family detached residential real estate (not including condominiums). I believe there will be a 10 per cent increase in price year over year from 2024 to 2025. Here are the main five reasons.
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Ontario launching rebates for energy efficient home renovations and upgradesOntario is introducing two new energy efficiency programs, including one offering rebates for certain home improvements. The Home Renovation Savings Program, launching Jan. 28, will rebate homeowners up to 30 per cent of the cost of energy efficiency renovations and improvements, such as new windows, doors, insulation, air sealing, smart thermostats, heat pumps, and rooftop solar panels and battery storage systems.
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Canada could see a wave of mortgage renewals in 2025“We have no idea how we will afford an increase.” That’s what Alecia, a Horseshoe Valley, Ont. resident, said when asked about renegotiating her mortgage in 2025 and the expected rise in costs. “It’s not just the mortgage, it’s the property tax and all other expenses that are of concern,” she told CTV News Toronto. The 63-year-old property owner is one of 1.2 million Canadians(opens in a new tab) facing a mortgage renewal in 2025, according to a report (opens in a new tab)released by the Canadian Mortgage and Housing Corporation (CMHC). At least 85 per cent of those existing home loans were contracted when the Bank of Canada’s interest rate was at or below one per cent, the report notes, which means more than one million homeowners will face “significantly higher interest rates” when they renew. The payment shock for many Canadians will come even after the Bank of Canada cut interest rates by a total of 175 basis points since last spring(opens in a new tab). Interest rates had previously reached a 22-year high in an effort to curb inflation.
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Interest rate cuts, mortgage rule changes could speed up GTA housing market in 2025, experts sayInterest rate cuts and changes to Canada's mortgage rules could set the stage for change in the Greater Toronto Area's real estate market this year, experts say. Last year the federal government expanded eligibility for 30-year mortgage amortizations to all first-time homebuyers and all purchasers of new builds and also increased the $1 million price cap for insured mortgages to $1.5 million. That means buyers can purchase a $1.5 million home with less than 20 per cent down.
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5 easy home improvement projects to tackle this winterHere are five simple home improvement ideas you can tackle this winter on a budget. Nothing transforms a room faster than a new coat of paint. Opt for soothing, warm tones like creamy beiges, sage greens, or soft terracottas to create a cozy aesthetic that can be enjoyed throughout the seasons. Feeling bold? Colour drenching is a popular trend worth exploring that involves containing a single wall colour throughout the space onto the ceiling, trim, baseboards and doors. If you’re not ready to change up the wall colours just yet, freshly-painted trim and baseboards make any space sparkle. Be sure to dust first, use low-VOC paints for a healthier indoor environment, and open windows for ventilation. Bonus: Winter’s low humidity makes it an ideal time for painting projects. Winter offers the perfect opportunity to tackle clutter. Focus on practical spaces, like your kitchen cabinets, bathroom vanities, and closets. Start by removing items that you never use or are damaged and broken. Utilize stackable bins, drawer organizers, or hanging solutions to maximize your storage. Decluttering doesn’t just clear physical space – it clears mental space, too. If you’re getting rid of items you no longer need but are still in excellent condition, consider donating them to your local thrift or consignment store. Drafty windows and doors not only make your home feel cold, but can also increase your heating bills. Seal cracks with caulking or weatherstripping, and try insulated curtains as a stylish way to keep the warmth in. If you’re feeling ambitious, our article on preparing your home for winter is worth the read. Replacing door handles, cabinet knobs, drawer pulls, lightswitch and outlet covers, or faucet fixtures is a budget-friendly way to upgrade your home without going through with a full renovation. Look for modern finishes, like brushed gold or matte black to instantly elevate your space. If you’re considering taking on a larger renovation project, winter is the perfect time to do it since supplies and services are in lower demand than in the summer months. Whether you’re working from home or have always wanted a dedicated space for a hobby, take some time to create or refresh a workspace. To create a space that’s both productive and inspiring, determine what lighting is required, ensure all items have their place, and add personality with pictures, plants and other trinkets that bring a smile to your face. Not sure how to fit an office into your current living space? Check out this article for helpful tips on how to carve out a functional workspace in any home. Home improvements don’t have to be perfect or Pinterest-worthy to make an impact. The little changes you make this winter can create a space that feels like a true reflection of you — a place where you and your family can rest, recharge, and reconnect. Start small, work at your own pace, and find joy in the process.
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2025 - Financial changes in Canada you should know about this yearThere are a few changes in federal policies that could affect Canadians' finances in the new year. Brian Quinlan, a chartered professional accountant with Allay LLP, says many of the changes are routine. These include inflation-based adjustments to what tax bracket you fall into.
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Housing market poised for 2025 comebackAs the calendar flipped one year ago, Canadian real estate watchers were optimistic a sluggish 2023 would give way to a rebound, with hopes of renewed demand as soon as the spring. But the lag in 2024 lasted longer than some expected, with the Bank of Canada waiting until June to deliver the first of the year's five interest rate cuts. While buyers stormed back to the market this fall, experts noted the first few rate cuts hadn't been enough to motivate everyone to leave the sidelines quite yet.
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National aggregate home price forecast to increase 6.0% year over year in Q4 of 2025For the last few years, the Canadian housing market has experienced trends far outside the norm. A global pandemic, rapidly rising interest rates and economic disruptions threw the real estate market off course for a time, but 2025 is expected to bring conditions back in line with long-term historical averages.
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Market Trend - Nov 2024Canada’s housing market continued its upward trend in November 2024, as it recorded gains in both sales activity and prices, according to the latest report from the Canadian Real Estate Association (CREA). This marks the sixth consecutive month of sales growth, further solidifying the market’s recovery since mid-year when the first cut to the overnight lending rate was made. Key urban centers such as the Greater Toronto Area, Greater Vancouver, Calgary, and Montreal all saw increased activity, with notable gains also recorded in several smaller cities across Alberta and Ontario.
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