CityNews: Ottawa housing market sees slight rise in average home prices year-over-year – According to the Royal LePage House Price Survey released October 13, the aggregate price of a home in Ottawa increased 2.7 per cent year-over-year to $744,500 in the third quarter of 2022. Although the housing market has slowed over the past few […]
New Mortgage Rules – Renewing and Refinancing January 1st, 2018 Canada’s new mortgage rules came into effect and it was big news. These new rules appear to have the greatest impact on those looking to qualify for a new mortgage but if you are looking to renew or refinance your mortgage, you may be impacted as well. At the centre of the new rules is a stress test requiring applicants to qualify at a rate at least 2% higher than the rate they will be paying, regardless of the down payment they are making on the home. The new rules
Read More
It’s hard to believe November is over but here we are! If you’ve been following Ottawa real estate you’ll know it’s been a busy 2017 and December will likely be no exception. With the new mortgage rules coming into play in a few short weeks, many buyers are motivated to have firm deals completed before January 1st, 2017. We’ve included the latest news release from the Ottawa Real Estate Board below. Please note: average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value.
Read More