Foreign Buyer Tax, Rent Control Announced to Cool Hell Fire of a GTA Housing Market
Buying A Home / Economic News / First Time Home Buyers / Home Ownership / Mortgage News / RSM News

Foreign Buyer Tax, Rent Control Announced to Cool Hell Fire of a GTA Housing Market

It’s no secret that Toronto’s real estate market is rising at an alarming rate. Just in the month of March, it was announced that the average home price increased by 33.4 per cent, year-over-year. The average price for a detached home in Toronto currently sits at $1.21 million. In response, Toronto Mayor John Tory, Federal … Continue reading »

The Most Surprising Tip to Burn Your Mortgage Faster
Buying A Home / Economic News / First Time Home Buyers / Home Ownership / Lifestyle News / Mortgage News / Mortgages / Mortgages 101 / Personal Finance / Personal Finance News / RSM News / Savings 101 / Savings News

The Most Surprising Tip to Burn Your Mortgage Faster

High home prices got you down? Many people, particularly millennials, feel like the dream of homeownership is out of reach, especially in Toronto and Vancouver – Canada’s most expensive real estate markets. However, buying a home and being mortgage-free… Continue reading »

Bank of Canada Update: Holding Its Benchmark Interest Rate
Buying A Home / Economic News / First Time Home Buyers / Mortgage News / Mortgages / Mortgages 101 / RSM News / Taxes

Bank of Canada Update: Holding Its Benchmark Interest Rate

Bank of Canada Rate Update – December 7, 2016 As expected, the Bank of Canada is holding its benchmark interest rate at 0.5 per cent. The scheduled announcement today was in line with expectations. “Following a very weak first half of 2016, growth in the third quarter rebounded strongly, but more moderate growth is anticipated … Continue reading »

Toronto Considering Raising Land Transfer Tax
Buying A Home / Economic News / Home Ownership / Lifestyle / Lifestyle News / Mortgages / RSM News / Selling Your Home / Taxes

Toronto Considering Raising Land Transfer Tax

In an effort to find new revenue streams, the City of Toronto is looking at raising the rate of its Municipal Land Transfer Tax (MLTT) on home sales. The proposed hike would add an additional $750 in closing costs to the average home, and would add an estimated $100 million… Continue reading »

Is Holding onto Your Old Property When You Buy New a Good Idea?
Buying A Home / Growing Your Money / Home Ownership / Lifestyle / Lifestyle News / Mortgages / Mortgages 101 / Personal Finance / Personal Finance News / RSM News / Savings / Selling Your Home / Taxes / Your Budget

Is Holding onto Your Old Property When You Buy New a Good Idea?

Is it worth holding onto your current residence as an investment property when you buy new? We’re taking a look at the benefits and drawbacks and questions you need to ask yourself before making the decision. Continue reading »