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Communities in Quebec and British Columbia dominated the top of the list, with Pickering as the highest-ranking Ontario municipality at number nine. On the other hand, Ontario dominates the bottom of the list, where five of the bottom six slots are occupied by communities in the province. Some of this poor performance can be explained by a lack of demand, particularly in Northern Ontario. But it cannot explain why GTA communities such as Brampton and Aurora are among the 13 Ontario communities in the bottom 20.

The latest forecasts from the Big 5 Banks reveal their projections for where the Bank of Canada’s policy rate is expected to settle by the end of 2025. #BankofCanada #InterestRates #MortgageRates #BoC #RateForecasts

Why rent when you can own a piece of history? Discover this stunning condo in the iconic Heritage Church building, right in the vibrant heart of Osborne Village. Conveniently located next to Safeway on River Avenue, this historic gem was transformed in 2013 into 46 modern residential units. Step into your bright, west-facing 1-bedroom condo, featuring an open-concept layout that seamlessly connects the kitchen, dining, and living areas. The kitchen is a chef’s dream, boasting quartz countertops, rich cabinetry, and a full suite of stainless steel appliances. Sleek laminate flooring flows throughout, and in-suite laundry with a washer and dryer adds to the convenience. This stylish and accessible building offers low condo fees and minimal hydro costs. Each unit is equipped with its own furnace, air conditioning, and electric water heater for maximum comfort. Whether you’re looking for a cozy home or a savvy investment opportunity, this condo—with its easy rental potential—is sure to impress! https://buff.ly/3OnfKvC

Expect cuts to drive variable and short-term interest rates substantially lower in the next year for products like existing variable-rate mortgages. Just don’t count on big reductions in long-term rates from current levels, which affect products like new five-year fixed-rate mortgages.  The Bank of Canada is widely expected to keep those cuts coming in December and well into 2025. Overnight index swaps are pricing in further drops in the policy rate totalling close to 100 basis points in the next year. Most economists at major banks are forecasting rate reductions of similar magnitude. Meanwhile, there are several reasons to expect that longer-term rates will follow a different path than the policy rate and likely end next year not far from where they are now.

Why rent when you can own a piece of history? Discover this stunning condo in the iconic Heritage Church building, right in the vibrant heart of Osborne Village. Conveniently located next to Safeway on River Avenue, this historic gem was transformed in 2013 into 46 modern residential units. Step into your bright, west-facing 1-bedroom condo, featuring an open-concept layout that seamlessly connects the kitchen, dining, and living areas. The kitchen is a chef’s dream, boasting quartz countertops, rich cabinetry, and a full suite of stainless steel appliances. Sleek laminate flooring flows throughout, and in-suite laundry with a washer and dryer adds to the convenience. This stylish and accessible building offers low condo fees and minimal hydro costs. Each unit is equipped with its own furnace, air conditioning, and electric water heater for maximum comfort. Whether you’re looking for a cozy home or a savvy investment opportunity, this condo—with its easy rental potential—is sure to impress! Sonia Sharma https://lnkd.in/gj8-KU-r

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A “mortgage war” could be on the horizon as interest rates decline since more than half of all mortgages with Canadian banks are set to be renewed in the next two fiscal years, Royal Bank of Canada analysts say. After a period of “significant inflation,” consumers will have a “strong incentive” to shop around for the lowest available mortgagein the coming years, Darko Mihelic said in a note on Monday.

Rents flat or falling in most markets in Canada per Rentals.ca

• October jobs report showed a weak market with only 15,000 jobs added. • Unemployment rate held steady at 6.5%, largely due to people leaving or staying out of the workforce. • Labour force participation rate dropped to 64.8%, the lowest since 1997. • The recent 50-basis point rate cut by the Bank of Canada is expected to stimulate the market, though the policy rate is still restrictive. • A significant rise in hiring is anticipated only by early 2025. • The Bank of Canada is expected to continue cutting rates, including a 25/50-basis point cut in December, aiming for a terminal rate of (or below) 2.75% by mid-2025. • Youth labour force participation has fallen to 62.3% as many turn to education instead of entering a stagnant job market, though layoffs remain rare. • Core-aged worker participation rates are comparable to pre-pandemic levels from 2017-2019. • Wage growth may moderate into early 2025, but medium-term wage growth is expected to stay elevated next year due to slowing population growth.

US Jobs Report Hits Canadian Mortgage Rates: What You Need to Know The recent disappointing US jobs report has significant implications for Canadian mortgage rates. Key Takeaways: • US Job Market Weakening: The downward revision of US jobs numbers mirrors Canada’s current trend: while government jobs are increasing, the private sector is cutting back. • US Fed Rate Cuts Likely: This opens the door for potential rate cuts by the US Federal Reserve, likely led by Jerome Powell. If US rates drop, the Canadian dollar could fall. However, this impact may be cushioned by synchronized rate cuts from central banks globally. • Bank of Canada Expected to Follow: On December 11, the Bank of Canada is expected to cut rates again by 50 basis points. More cuts are anticipated into 2024, possibly bringing rates to 2.00% - 2.75%. What This Means for Canadian Mortgages: • Variable Rates Set to Drop: By late spring, variable-rate mortgages are projected to dip below 4%. • 5-Year Fixed Rates May Follow: These could also trend below 4%, making it a prime opportunity for Canadian mortgage holders. Choosing a variable rate now may help borrowers secure a favorable deal on a 5-year fixed rate later.