Jumbo Cut Confirmed ✂️

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. 

Variable mortgage rates are falling, but fixed rates aren’t ready to follow suit

Bond traders nailed Wednesday’s 50 basis point Bank of Canada rate cut like a Vegas bookie who knows the fix is in. Canada’s lowest nationally advertised variable rates are now down to 4.70 per cent (insured) and 5.10 per cent (uninsured). Compare those to the lowest publicly quoted fixed rates, which are five-year terms at a so-so 4.09 per cent (insured) and 4.64 per cent (uninsured).

New immigration plan aims to stabilize population growth, housing market: minister

The federal government's new immigration levels plan will stabilize population growth and relieve pressure on the housing market, Immigration Minister Marc Miller said Thursday. As CBC News reported Wednesday, the government is cutting the projected number of new permanent residents from 485,000 this year to 395,000 in 2025, with further cuts to 380,000 in 2026 and 365,000 in 2027.

Toronto & Vancouver Are Now The Weakest Real Estate Markets In Canada

Canadian real estate seems boring these days, but dramatic demand shifts are occurring. Canadian Real Estate Association (CREA) data shows the sales to new listings ratio (SNLR) fell in September. At the national level, the drop was only slight but the composition shift was very unexpected. Booming cities like Calgary are now seeing the demand balance weaken at the fastest rate in the country, and cities where the primary employer is government are suddenly tightening. It’s Toronto and Vancouver that are producing the most surprising data though—typically the hottest markets in the country. 

Halloween House Hop 2024 – Belleville

Get into the Halloween spirit with Belleville’s House Hop! Drive around town to explore the most creatively decorated homes, featuring eerie yard displays and chilling light shows. Don’t miss this haunted journey through Belleville’s spookiest spots!

Mega Fall Sale – Trenton

Vivacious Clothing and Sox it to Me are hosting the 5th annual Mega Fall Sale including 16 local businesses! Come by Trenton High School on November 2nd and 3rd to get great deals and one of a kind gifts from their artisan vendors.