‘On July 12, 2023 the Bank of Canada increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%’ – Bank Of Canada

Sales 7,481 Average Price $1,182,120 New Listings 15,865

Sales 9,012 Average Price $1,196,101 New Listings 15,194

Sales 7,531 Average Price $1,153,269 New Listings 11,364

Sales 6,896 Average Price $1,108,606 New Listings 11,184

‘The Bank of Canada today increased its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%.’ – Bank Of Canada

Some lenders will qualify you based on the income earned from your business bank account rather than the income you declare on your CRA taxes. This gives you much more purchasing power for your home.

‘The Bank of Canada today held its target for the overnight rate at 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%.’ – Bank Of Canada

Your credit score and report can affect your mortgage approval and interest rate. Maintain track of your credit score and liabilities reported to ensure accuracy and to give you insight to increase your score if needed. You can visit https://www.consumer.equifax.ca/personal/ to get a copy of your credit score and report. There are lenders than can […]

The Underused Housing Tax is an annual 1% tax on the ownership of vacant or underused housing in Canada that took effect on January 1, 2022. The tax usually applies to non-resident, non-Canadian owners. In some situations, however, it also applies to Canadian owners – Government of Canada