Jason Malcolm's blog

The Greater Toronto Area (GTA), known for its booming real estate market, is facing a growing home affordability crisis. With prices skyrocketing and demand outstripping supply, the dream of homeownership is becoming elusive for many. Whether you're a first-time homebuyer, a renter, or a seasoned investor, the impact of this crisis is undeniable.

In this blog, we’ll explore the full breakdown of the affordability crisis, how it’s reshaping the market, and what you can do to stay ahead.

Understanding the GTA Affordability Crisis

The GTA’s housing market has seen sustained growth over the...

The mortgage stress test has been a major factor for Canadians entering the real estate market since its implementation in 2018. It requires borrowers to qualify for their mortgage at a rate higher than their contract rate, ensuring they can manage future interest rate hikes. However, new changes for 2024 aim to ease some of the restrictions, providing more flexibility to homeowners and buyers, especially those renewing or switching lenders. Here’s a breakdown of the latest developments and what they mean for you.

What is the Mortgage Stress Test?

The stress test, introduced by the...

Bank of Canada Interest Rate Predictions for 2025: What to Expect and How It Affects You

As we look toward 2025, the Bank of Canada’s interest rate policy is expected to be a pivotal factor shaping the country's economic landscape. Homeowners, prospective buyers, businesses, and investors are all watching closely for signals on how interest rates may change in the coming year. In this blog, we'll explore the potential scenarios for interest rates in 2025, the factors influencing these predictions, and what this could mean for you.

Current Interest Rate Environment

As of September 2024,...

Dive into the latest insights from August 2024’s real estate market and see how it influences your property decisions!⁠

⁠ August 2024 shows 22,653 active listings, up by 46.2%, with properties staying on the market for an average of 28 days, a 40% increase. The market recorded 4,975 sales, a 5.3% decrease, and the average price slightly dipped by 0.8% to $1,074,425.⁠ ⁠ Here’s what this means for you:⁠ ⁠

Buyers: The increase in listings means more choices but expect properties to linger on the market longer. This could provide leverage for negotiations but stay sharp as...

Dive into the latest insights from July 2024’s real estate market and see how it influences your property decisions!⁠

⁠

The market has seen a notable shift with 23,877 active listings, a 55.4% increase, while the average days on market is now 24 days, marking a 41.2% increase. Although the number of sales reached 5,391, a 3.3% increase, the average price slightly decreased by 0.9% to $1,106,617.⁠

⁠

Here's what this means for you:⁠

Buyers: With more listings available, you have a greater selection to choose from. However, the rise in active listings suggests a competitive market,...

Buying a home is an exciting and can be a complex process.. Whether you're a first-time buyer or looking to upgrade, check out  these tips which will help you navigate the real estate market and make informed decisions.

1. Work with a Real Estate Professional

A knowledgeable real estate agent such as myself can be an invaluable resource throughout the home buying process. They can provide market insights, help you find properties that meet your criteria, negotiate on your behalf, and guide you through the legal and administrative steps

2. Determine Your Budget

You are off to the race and...

Have you ever thought about owning your own home and what the benefits would be?  I am here to tell you home ownership can bring a lot of peace and joy into your life. Here are my top five reasons to own a home.

Have you ever found a home you loved and wanted it for your own? You put an offer down and come to find out you cannot afford the amount needed for the home. Unbelievably it happens quite often.  Many over look the Mortgage pre approval process.

What is mortgage pre-approval?

When it comes to Real Estate, there is one thing that is on everyone’s mind and that is interest rates.

There is a clear signal the historically low mortgage rates have ended. In March of 2022 the Bank of Canada, begin raising interest rates in order to help battle inflation.  The challenge we are seeing is that buyers have shifted from availability to affordability. We have seen the housing market softened with these changes, which has been a painful adjustment for Canadians. The ultimate goal is to have a more stable and sustainable Real Estate Market.