TREB RESALE HOUSING FIGURES NEWS RELEASE “Much of the sales volatility in 2017 was brought about by government policy decisions. Research from TREB, the provincial government and Statistics Canada showed that foreign home buying was not a major driver of sales in the GTA. However, the Ontario Fair Housing Plan, which included a foreign buyer tax, had a marked psychological impact on the marketplace. Looking forward, government policy could continue to influence consumer behavior in 2018, as changes to federal mortgage lending guidelines come into effect,” said TREB PresidentTim Syrianos.
Read full news release for more information: http://bit.ly/2ETLpjl #TREBstats#gtarealtor#gtarealestate#trebreport#resalehomes#governmentmortgagelending#newmortgagerule
New Mortgage Rule...
New down payment rule is in effect as of February 15, 2016. It will mainly effect Toronto and Vancouver markets. Having said that, it may not effect about 85% of Canadians as per Mr. Ian Lee from Carleton University Sprott School of Business during an interview on CTV News. To learn more about mortgage rules or have any question about mortgage, contact us via email at info@AKALmortgages.com or via phone at (416) 621-1300.