Jin Zou Real Estate Toronto/GTA

04/12/2024

The Bank of Canada today held its target for the overnight rate at five per cent, with the Bank Rate at 5.24 per cent and the deposit rate at five per cent. The Bank is continuing its policy of quantitative tightening.

The Bank expects the global economy to continue growing at a rate of about three per cent, with inflation in most advanced economies easing gradually.

02/23/2024

Realtor who appeared on ‘Million Dollar Listing' accused of flooding clients' home

Compass, the realtor’s broker, is also accused of refusing to help the homeowners, who are navigating roughly $200,000 in repairs. Video broadcast Monday Dec...

09/07/2023

The Bank of Canada was persuaded to hold its key interest rate steady on Wednesday as signs of a faltering economy emerge, but with inflation still above target, the central bank is walking a tight line to avoid fuelling speculation of rate cuts.

“With recent evidence that excess demand in the economy is easing, and given the lagging effects of monetary policy, governing council decided to hold the policy interest rate at five per cent,” the central bank said in a news release on Wednesday.

However, the Bank of Canada is keeping the door open to more rate hikes, with a hawkish tone as it notes its governing council is still concerned about inflationary pressures and “is ready to raise interest rates further if needed.”

Canada’s inflation rate was 3.3 per cent in July, ticking up from 2.8 per cent in the previous month.

#416 #905

12/10/2022

🤵 Homeownership market activity in November continued to be influenced by the impact of higher borrowing costs on affordability. Sales were down markedly compared to the same period last year, following the trend that unfolded since the commencement of interest rate hikes in the spring. New listings were also down substantially from last year, and at a very low level historically. The fact that the supply of homes for sale has remained low, has supported average selling prices at the $1.08 to $1.09 million mark since August.

Greater Toronto Area (GTA) REALTORS® reported 4,544 sales through TRREB’s MLS® System in November 2022 – down 49 per cent compared to November 2021, but remaining at a similar level to October especially after considering the recurring seasonal downward trend in the fall. New listings, at 8,880, were down on both a year-over-year basis and month-over-month basis.

“Increased borrowing costs represent a short-term shock to the housing market. Over the medium- to long-term, the demand for ownership housing will pick up strongly. This is because a huge share of record immigration will be pointed at the GTA and the Greater Golden Horseshoe (GGH) in the coming years, and all of these people will require a place to live, with the majority looking to buy. The long-term problem for policymakers will not be inflation and borrowing costs, but rather ensuring we have enough housing to accommodate population growth,” said TRREB President Kevin Crigger.

“We have seen a lot of progress this year on the housing supply and related governance files such as the More Homes Built Faster Act. This is obviously good news. However, we need these new policies to turn into results over the next year. Otherwise, the current market lull will soon be behind us, population growth will be accelerating, and we will have done nothing to account for our growing housing need. The result would be enhanced unaffordability and reduced economic competitiveness,” said TRREB CEO John DiMichele.

The MLS® Home Price Index Composite Benchmark was down by 5.5 per cent year-over-year in November 2022. The average selling price for all home types combined was down by 7.2 per cent year-over-year. Annual price declines continued to be greater for more expensive market segments, including detached and semi-detached houses.

#2022 #416 #905

12/10/2022

The Bank of Canada raised its benchmark interest rate by 50 basis points on Wednesday, to 4.25 per cent.

The move was widely expected by economists, who were anticipating a rate hike of either 25 or 50 points.

Canada's central bank has raised its rate seven times this year in its fight to wrestle inflation into submission. In the process, the bank has taken its rate from functionally zero to its highest point since 2008 — its fastest pace of rate hikes since inflation targeting began in the 1990s.

Those rate hikes have had a huge impact on the rates that Canadian consumers and businesses get from their banks on things like savings accounts and mortgages.

Canada's five biggest banks moved swiftly to match the bank's increase, raising their prime lending rates by the same 50 basis points. The prime lending rate at all of Canada's major lenders will now be 6.45 per cent as of Thursday morning. That will increase borrowing costs for anyone with a variable rate loan.

04/20/2022

Bank of Canada increases key interest rates to 1%.

Canadians should expect interest rates to continue to rise toward more normal levels.

“By more normal we mean within the range we consider for a neutral rate of interest that neither stimulates or weighs on the economy,” he said.

The Bank of Canada on Wednesday returned its estimate for the nominal neutral rate -- what the interest rate would be if inflation were stable and the economy at full employment -- to its pre-pandemic level of a range between two per cent and three per cent.

https://www.cp24.com/news/bank-of-canada-raises-key-rate-half-a-point-to-1-and-warns-of-further-hikes-to-come-1.5859951?fbclid=IwAR32s02NS2o5SoS3NDfTw54qS3myXbApBvNICbkbfEYjg8wlCKJIX1dr4gE

The Bank of Canada has raised its key interest rate by the highest amount in more than 20 years and warns more rate hikes are coming amid new forecasts for higher inflation levels.

02/12/2022

Alias Condos 🏢
February 24th launch!

Church & Richmond
Downtown Toronto 🔥

🚝 Transit 🚍
Eaton's Centre shopping mall ✅
Investment ✅

Alias Condos is a new condo development by Madison Group currently in preconstruction at 114 Church Street, Toronto. Alias Condos has a total of 479 units.

#416

02/12/2022

M City Phase 5 - Condo 🏢
April/May launch

Mississauga

🚝 Transit 🚍
Square One shopping mall ✅
Investment ✅

M5, the newest phase of M City, embodies the community’s ethos of iconic architecture, striking design, and cutting-edge technology. The tower’s crisp linear silhouette makes an impressive statement; simple yet elegant geometry of black and white forms that create a grid-like pattern. Like its predecessors, there’s more to experience at M5. Wellness-focused amenities paired with calming and stylish interiors and modern suite features and finishes that introduce tranquility to the everyday. M5 will inspire, nurture, and soothe.

#416

02/12/2022

Duo Condos 🏢

Brampton
beside Sheridan College ✅

🚝 Transit 🚍

From the $400,000s, Duo Condos has a total of 350 units.

#416

02/03/2022

🤵 Demand for ownership housing remained very strong from a historic perspective in January 2022. At the same time, listings remained in short supply, resulting in tight market conditions and very strong year-over-year price growth.

There were 5,636 sales reported through the TRREB MLS® System in January 2022 – down by 18.2 per cent compared to 6,888 sales in January 2021. While sales were down substantially compared last year’s record result, the January 2022 result was the second best in history for the month. This result is in line with TRREB’s forecast for a strong sales result in 2022, but off the 2021 record.

New listings were down by a similar annual rate (-15.5 per cent) as sales. Because sales and new listings moved in relative lock step, active listings at the end of January amounted to 4,140 – down by 44 per cent to the lowest level in more than two decades.

📈 The continuation of tight market conditions resulted in a 33.3 per cent annual increase in the MLS® Home Price Index Composite benchmark. Similarly, the average selling price was up by 28.6 per cent year-over-year to $1,242,793.

Looking Forward, TRREB's outlook for 2022 is as follows:

Total home sales reported through TRREB’s MLS® System in the GTA will reach 110,000, representing a dip from 2021, but still a strong result in comparison to previous years; and

The average selling price for all home types combined is set to climb to $1,225,000, an approximate increase of 12 per cent when compared to last year.

#2022 #416

02/02/2022

Happy Chinese New Year! 🥳 🐅🐯

I wish you all great health. 💪 A prosperous new year filled with joy! 😊

May the new year shower you with luck and love! ❤️

大家新年快樂！ 😁

恭喜發財

🐯 祝你在虎年：身體壯如虎！ 才華賽伯虎！ 地位尊伏虎！ 義氣蓋五虎！ 高升爬山虎！ 發達開路虎！ 唔學周老虎！ 做事不馬虎！ 虎虎生威，虎年大吉！🐯

#2022 #新年快樂