CMHC Will No Longer Be Insuring Stated Income And Second Home Deals

April 28th, 2014

CMHC makes getting a mortgage tougher…again. Starting May 30th, 2014, the CMHC will no longer approve mortgage insurance applications for second homes and for stated income deals (stated income are applicants that cannot prove their income via traditional means because they are self-employed and do not declare full income on their taxes).

Real Estate Sales In Toronto Up For Q1 2014!!!

April 4th, 2014

Real estate numbers in the GTA looked great in the first quarter of 2014.  For the month of March, the average sales price increased from $517,232 to $557,684 (2013 vs 2014) and the number of transactions increased from 7,537 to 8,081.  For the quarter as a whole, the average sales price increased by 8.5% and the number of sales transactions by 3.0%.