Market Updates

Why You Need to Rent a Place Soon!

Last week, I had the pleasure of helping two people find two rental units downtown. I've seen the same pattern over many years, so I'll tell you exactly what I told them: There is always a spike in activity in the Summer months leading up to September because of the start of the school year.The smart students already secured a place in June.  By July, most students only begin to think about...

New Mortgage Stress Test (June 1, 2021)

As you may have heard, there is a new "Stress Test" that will be taking place on June 1, 2021. I had the opportunity to ask Chris Molder, a mortgage broker from Tridac Mortgage, about the changes and how it affects home buyers. The stress test is increased from 4.79% to 5.25% and now affects both insured and uninsured mortgages. So if you need a mortgage of $1,000,000, your purchasing power is...

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