Bay of Quinte & PEC Resilient to Price Declines

Your weekly update on what is going on in the real estate market. From localized announcements to international trends, stay in the know about what is going on all things real estate. 

Home prices fall again as sellers start to back away

According to data released by the Canadian Real Estate Association on Dec. 14, the average home price in November fell 0.4 per cent to $644,107 on a month-over-month basis.

The MLS Home Price Index (HPI), meanwhile, declined 1.1 per cent from October, but remained up 0.6 per cent from a year ago.

Buying an Unfinished Home: Understanding the Process

Purchasing real estate is a process that looks different for everyone. Some people have their sights set on a pre-construction, new-build, or custom home, while others opt for resale homes. In between all these real estate types, you’ll find unfinished homes. As the name suggests, these are properties partially completed when they’re put up for sale. 

Mortgage stress test to remain unchanged in Canada

Canada’s banking regulator says it has left the stress test rate for uninsured mortgages unchanged.

The Office of the Superintendent of Financial Institutions says the minimum qualifying rate for uninsured residential mortgages will remain the greater of 5.25 per cent, or the mortgage contract rate plus two per cent.