Higher Down Payment, Higher Rate? Here’s Why!

Here is 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. 

These are the best buyers' markets in Canadian real estate — for now

If you looking to buy a home in Toronto, now might be the time, according to a new study — but don’t wait too long. According to online realtor Zoocasa, Canada’s largest city has the lowest sales-to-new listings ratio among the country’s major centres. Zoocasa analyzed markets across Canada based on these ratios, using September data from the Canada Real Estate Association. 

Pros and cons of a 10-year fixed mortgage: Is stability worth the cost?

While the vast majority of homeowners opt for the familiar 5-year fixed term, a tiny percentage of Canadians prefer the stability that comes with locking in a 10-year rate. In an unpredictable world where interest rates fluctuate, a 10-year fixed mortgage can offer peace of mind with long-term, stable payments. However, this product comes with trade-offs, like slightly higher interest rates and potentially large prepayment penalties. 

Canadian Consumer Insolvencies Continue Climbing Towards New Highs

Highly indebted Canadian households are seeking a lot more creditor relief than usual. Office of the Superintendent of Bankruptcy (OSB) data shows insolvency filings made a big uptick in September. It was actually such a big uptick that it came in as the third-worst September in at least 40 years. It’s a general trend that’s been observed throughout 2024, which indicates a bigger problem than most realize. 

Belleville Festival of Lights

Take in the sights and sounds of the holiday season at the Belleville Festival of Lights! This beloved annual tradition features all kinds of beautiful lighting displays at Jane Forrester Park – now through Jan. 6. 

Side Hustle XMAS Market

Join Venue 1906 for their fifth annual pop-up! Enjoy free entry while browsing a variety of local vendors, including vintage finds, apothecary items, silkscreen and prints, skin care, bath and body products, ceramics, and artwork.