Ontario slaps 15% tax

Ontario slaps 15% tax on foreign buyers, expands rent control in 16-point plan to cool housing

The Ontario government moved forward Thursday with initiatives to rein in the housing market in and around its largest city, announcing 16 new measures including a 15 per cent tax on foreign buyers and expanded rent control rules.

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Fed rate hike coming soon

Federal Reserve officials expressed confidence they can raise interest rates gradually, while a hike “fairly soon” might be appropriate to avoid the risk of an overheated economy, minutes of Federal Open Market Committee’s latest meeting showed.

“Many participants expressed the view that it might be appropriate to raise the federal funds rate again fairly soon if incoming information on the labor market and inflation was in line with or stronger than their
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Not just TD?

One former banker claims high pressure sales tactics are prevalent at the majority of the big banks, following allegations of controversial sales practices by TD Bank.

A number of TD Bank tellers have claimed increasing pressure from the big bank to upsell financial products clients may not need, amid shrinking margins.

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Getting a mortgage-at what cost

Policymakers in Ottawa may be concerned about smart underwriting practices by mortgage lenders, but some brokers are emphasizing that borrowers resist the temptation to bend the truth on their applications, especially since consumer credit company Equifax released a report revealing that mortgage fraud is on the rise.
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CMHC Hiking Insurance Premiums

Homebuyers with less than 20% down are going to pay more.
CMHC is hiking mortgage insurance rates for the third time in three years. Premiums are jumping up to 0.65 percentage points on the highest LTV mortgages, effective March 17, 2017. Here’s the new premium table:
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The Economic Update for Q4 2016

VERICO’s Economic Consultant Michael Campbell has just released the Economic Update for Q4 2016, a VERICO Exclusive.
Have you been wondering why lender rates are going up? Want to get a better insight into what the Trump victory really means for the markets?

Click to   read the report

Bank of Canada holds key interest rate steady again


The Bank of Canada has decided to keep its benchmark interest rate where it is, citing a possible slowdown of the economy.

While the economy gained steam through the last half of 2016, it predicts a slowdown ahead, which is why it has decided to keep its benchmark interest rate where it is for now.

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What's really driving Toronto's red-hot real estate market

As Ontario's premier rules out taxing foreign buyers, focus turns to domestic speculators

Ontario Premier Kathleen Wynne is signalling she won't follow British Columbia's lead and slap a tax on foreign buyers of residential real estate in the Toronto area.
Domestic investors now account for 25 per cent of the demand for residential real estate in the Toronto area, according to analyst Ben Myers. (Martin Trainor/CBC)

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If you have questions

If you have questions on how to make your mortgage work for your financial plans, talk to me.
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Elena Roy
Mortgage Agent
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Tel: (613) 697-7801
Fax: (613) 482-4839

elena@capitalmortgages.com

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