Inflation Numbers, Greenbelt Scandal & More

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. 

Ouch — variable-rate mortgages have cost Canadian homeowners big money

Remember when variable-rate mortgages were all the rage. Canadians have traditionally tended towards a fixed-rate mortgage, but when the Bank of Canada lowered its benchmark interest rate to 0.25 per cent during the turmoil of the pandemic the popularity of the variable-rate soared.

Consumer Price Index, August 2023

The Consumer Price Index (CPI) rose 4.0% year over year in August, following a 3.3% increase in July. The headline acceleration was largely the result of higher year-over-year prices for gasoline in August (+0.8%) compared with July (-12.9%). Excluding gasoline, the CPI rose 4.1% in August, matching the 4.1% increase in July.

Ford apologizes for 'wrong' Greenbelt decision, vows to reverse land swap

Ontario's Greenbelt was initially created in 2005 to permanently protect agricultural and environmentally sensitive lands from falling victim to urban sprawl.

Last year, the province took 2,995 hectares of land across 15 sites out of the Greenbelt and replaced them with about 3,804 hectares elsewhere, citing the housing crisis. 

Visit Sandbanks one last time before the true fall weather hits. With kids back to school and summer vacations over, take advantage of less crowds on the beach or explore some walking trails.

On Friday September 29th, 2023 from 3-11 PM, local artists will activate the top of York Street at Main Street Picton to reveal its potential as car-free public space for all! Featuring live music and art-making, seating, and delicious food. FREE!