Interest rates, the stress test and market updates
Posted on Mar 17, 2020 in Real estate market
News item: Bank of Canada drops interest rate…again
For the second time in 10 days, the Bank of Canada cut its overnight rate by 50 basis points, to 0.75 per cent. The new rate went into effect this week as “a proactive measure taken in light of the negative shocks to Canada’s economy arising from the COVID-19 pandemic and the recent sharp drop in o...
Baby Boomers and the real estate market
Posted on Mar 12, 2020 in Real estate demographics
A report released this week that in part addressed “trends related to aging and its impact on the housing aspirations” in major 
Canadian cities is getting a lot of traction with the large demographic known as the “Baby Boomers.”
Canadian cities is getting a lot of traction with the large demographic known as the “Baby Boomers.”The report's “headline” was that 86 per cent of Baby Boomers (and “older” adults) in four major metropolitan areas, includ...
Renovations? Questions for your contractor
Posted on Mar 09, 2020 in Home improvements
Just like spring cleaning, lots of home owners are thinking spring “renovating” to make their houses more enjoyable, or more saleable.
Here are three questions to put on your list for the contractor before you commit:
• Will you provide a written cost estimate and breakdown, itemized and regularly updated?
• Can you give me a list of references with c...
Mortgage rate cut — the whole 0.5 per cent?
Posted on Mar 05, 2020 in Interest rates
Today or tomorrow, Canadian banks are expected to announce changes to mortgage interest rates.
This comes after the Bank of Canada lowered its interest rate to the banks by 0.5 per cent. It’s unknown if the banks will pass the entire half-per-cent cut to consumers.
Given that banks are competitive, and given that this is the eve of the spring real es...
March issue of News From Nexus this week
Posted on Mar 02, 2020 in News
The next issue of the Nexus Realty newsletter will be in your email box this week. If it isn’t, perhaps that’s because you haven’t subscribed, which you can do with this click.
Here’s a preview of what to expect in the March edition of News From Nexus:
• Why you shouldn’t have to worry about insurance rates in condominiums
• How investors are, or shou...
Home equity — what it can mean for new owners
Posted on Feb 27, 2020 in Real estate terminology
For people like realtors, sometimes the most basic knowledge can be something that newcomers to home ownership might not fully understand.
One example is home equity.
Most people get it, that home equity means the size of the “stake” you have in your home.
If it’s something you’ve never thought about because you’ve never been a home owner, here’s a si...