How Your Buying Power Changes with Stress Test Stricter mortgage regulations are coming January 1, 2018. It’s time to think about what that means for you. Back in October of 2016, the federal government implemented new mortgage rules, endearingly known as “stress tests”, that required all insured mortgages to be approved at the Bank of Canada’s posted rate of 4.64%. Now, a similar stress test is coming to non-insured mortgages. Key things to know When the new rules kick in, everyone applying for a mortgage will have to prove that they can afford the monthly costs of a 4.89% mortgage – regardless of the rate they are offered and would pay if they are successful. For example, a couple want to lock in a 2.75% variable rate mortgage. They will have to prove they can afford 4.89%. The stress test rate for uninsured mortgages... View Article
Canoe Landing Community Recreation Centre Canoe Landing Child Care Centre Bishop Macdonell Catholic Elementary School, serving 550 children from kindergarten to grade eight Jean Lumb Public School, serving 550 children from kindergarten to grade eight Multi-functional event and market space facing the park, to be operated by a non-profit organization This integrated multi-use facility will help ensure that families living in CityPlace and the surrounding high-density neighbourhoods will have access to the amenities and services necessary for a thriving, liveable, equitable community. For families in condos and apartments, the park is your back yard, and the community centre is your living room. Through public meetings and working group meetings in 2015 and 2016, the facility was designed in close collaboration with the community in order to respond to the particular needs and desires in a vertical neighbourhood. For example, to make the best use... View Article
Take a look at the attached pdf. I’m not a big fan of this project but who knows, maybe it will work out. Side streets will see a heavier traffic burden, this will be a problem considering delivery trucks use those streets the most to deliver cargo. My other observation is bikes! Cars will have to turn right at every street corner, will this be problem for bicyclists and vehicles at those corners? I hope the city will be monitoring the amount of accidents that happen over this time period in the pilot area. King_Street_Brochure_Oct11_1_
The condo market is outperforming other segments of the housing market! The reason for this is tighter supply and a more focused interest from consumers. The rest of the market is more balanced with semi-detached and townhouses performing quite well! Looking around our great city I’ve noticed vacant lots disappearing and cranes going up. This city will continue to grow for a very long time. There are some very exciting condo projects that will start in the next few years that will change our skyline. The Mirvish/Gehry Project will completely redefine King Street West as will The One at Yonge and Bloor. Move over 1 Bloor East you won’t be the tallest building on the block!