How mortgage interest is calculated
Your bank would simply lose money if they offered rates below the rate at which they pay for their borrowed money. Beyond that, banks are businesses meaning they have to keep up their operating costs, pay their employees, pay for their properties, and more.
This is the busiest year ever for the housing market, with prices up 18%
This is the busiest year ever for the housing market, with prices up 18% The year is not yet over, but the Canadian Real Estate Association says 2021 was the busiest year ever for Canada’s housing market, with average selling prices climbing to new highs, too.
City of Toronto adopts inclusionary zoning policies
On November 9, 2021, the City of Toronto adopted Official Plan Amendment No. 557 (OPA 557) and a comprehensive zoning by-law amendment respecting Inclusionary Zoning policies (the Amendments). The stated purpose of inclusionary zoning is to increase the supply of affordable housing for low to moderate income households by establishing policies and by-laws to require a certain percentage of new development to contain affordable housing.
