🛑 6th Mar 2024 - Canadians Pause Homebuying Plans Amid Rising Borrowing Costs!

💥 Wednesday 6th March 2024 💥 FREE Report - Stop Paying Your Landlord's Mortgage! Toronto's Ignition: Daily Market Insights! "Transforming Your Home Journey: Reports & the Most Coveted Listings!" "Toronto's Ignition: Daily Market Insights" fuels your daily journey through the Toronto real estate market. Each day, we deliver curated insights, trends, and critical updates directly to your inbox, ensuring you stay informed about the latest developments shaping the market. Whether you're a potential buyer, seller, investor, or enthusiast, our daily insights cover a wide range of topics, from market dynamics and emerging trends to investment opportunities and expert analysis. Stay ignited and let "Toronto's Ignition: Daily Market Insights" be your trusted companion in navigating the dynamic Toronto real estate landscape. How do psychological factors, such as a sense of pride or stability, play a role in the decision to stop renting and start owning a home? Psychological factors play a significant role in the decision to transition from renting to owning a home. Here's how: Sense of Ownership: Owning a home provides a sense of pride and accomplishment. Homeownership often symbolizes achieving a significant life milestone and establishing roots in a community. The tangible ownership of property can boost self-esteem and provide a sense of belonging. Stability and Security: Homeownership offers a greater sense of stability and security compared to renting. Knowing that you have a place to call your own and that you're not subject to potential rent increases or the whims of landlords can alleviate stress and provide peace of mind. Homeownership also allows for greater control over living arrangements and the ability to personalize and invest in the property according to one's preferences and needs. Long-Term Financial Investment: Many individuals view homeownership as a long-term financial investment that can provide stability and security for themselves and their families. Building equity in a home through mortgage payments and property appreciation offers a sense of financial security and potential wealth accumulation over time. Sense of Community: Homeownership often fosters a stronger sense of community and social connections. Owning a home allows individuals to become more invested in their neighborhood and participate in community activities, leading to a greater sense of belonging and social support. Generational Legacy: For many people, homeownership is also seen as a way to leave a legacy for future generations. The idea of creating a stable and secure environment for family members and passing down property to children or loved ones can be a powerful motivator to transition from renting to owning. Overall, psychological factors such as pride, stability, security, and a sense of community play a significant role in the decision-making process when individuals contemplate the transition from renting to homeownership. These factors often go beyond purely financial considerations and reflect deeply held personal values and aspirations. Canadians pause homebuying plans amid rising borrowing costs: Royal LePage - REM While 27 per cent of adults are active in the market, over half delayed their search thanks to the surge in interest rates realestatemagazine.ca READ MORE ... What you need to know about minimum payments on credit cards When it comes to credit cards, the term 'minimum payment' is often used as a marketing ploy, promising customers that a seemingly small, manageable monthly payment will keep them in good standing with lenders. ctvnews.ca READ MORE ... Toronto home sales up in February from last year as consumers eye rate cuts: TRREB Greater Toronto home sales and listings were up in February from last year, but adjusted sales were down from a month earlier, the region's real estate board said Tuesday. cp24.com READ MORE ... Toronto Home Prices Increase for First Time in Seven Months - BNN Bloomberg Toronto home prices rose for the first time in seven months as buyers and sellers navigated a shifting market ahead of a traditionally busy time of year. bnnbloomberg.ca READ MORE ... Toronto housing market gains as buyers return from the sidelines Regional real estate board reports sales and prices increased in February wealthprofessional.ca READ MORE ... Canadian mortgage-holders increasingly missed payments in Q4, Equifax says Consumers in Ontario and British Columbia increasingly missed payments on mortgages and credit cards in the fourth quarter of 2023, Equifax Canada said. ctvnews.ca READ MORE ... House of the Week: $2.2 million for a 140-year-old Uxbridge home with a backyard playground The 3,700-square-foot property comes with five bedrooms, a curvy original staircase, heated floors and an in-ground pool torontolife.com READ MORE ... 'RESURGENCE': House prices rising in Oakville and Burlington along with home sales and new listings in both municipalities, according to new real estate report Higher borrowing costs keeping home sales below the February sales record reached in 2021. insidehalton.com READ MORE ... Toronto home prices inch up as buyers adapt to mortgage rate landscape Toronto home sales jumped by 18% year-over-year in February while benchmark home prices inched up modestly. Read more cochranetimespost.ca READ MORE ... Home prices in Waterloo Region stabilizing A report from the Waterloo Region Association of Realtors shows the average sale prices for homes are stabilizing after years of uncertainty. kitchener.citynews.ca READ MORE ... Bank of Canada rate cut risks igniting housing market Benjamin Tal, deputy chief economist at CIBC Capital Markets, talks about the timeline for a Bank of Canada interest rate cut , the state of the labour market and the risk to the housing market from raising rates. Full hit of commercial real estate losses for banks still to come Economy already in recession by this measure Inflation data no 'slam dunk' for rate cut Want to know more about the mortgage market? Read Robert McLister’s new weekly... msn.com READ MORE ... Real Estate Manager Plans $500 Million Push to Buy Rental Houses From Builders - BNN Bloomberg BGO, a real estate manager majority owned by Sun Life Financial Inc., committed $500 million to an effort to buy communities of single-family rental homes directly from builders. bnnbloomberg.ca READ MORE ... The most evictions in Ontario happen in these major cities | insauga Two years ago, Nicole Brown received a letter from her landlord offering her and her family money to vacate the Brampton apartment they had been living in for close to 10 years, leaving them anxious and distressed about having to move at a time when rental rates were skyrocketing.  “It was just an offer to […] insauga.com READ MORE ... Why both tenants and landlords are unhappy about P.E.I.'s 3% rent increase cap Some tenants on P.E.I. will be paying more rent on Jan. 1, but many landlords in the province aren't happy about the increase either. msn.com READ MORE ... Majority of Niagara homes now cost more than a half-million dollars, as scarce rental units become more costly In St. Catharines in 2013 nearly 97 per cent of homes were estimated below $500,000, whereas in 2023 that fell to 30 per cent, according to MPAC stcatharinesstandard.ca READ MORE ... 'RESURGENCE': House prices rising in Oakville and Burlington along with home sales and new listings in both municipalities, according to new real estate report Higher borrowing costs keeping home sales below the February sales record reached in 2021. insidehalton.com READ MORE ... The Bank of Canada’s First Rate Cut Should Not Be Far Off Each week, Move Smartly mortgage expert Dave Larock keeps you informed about all latest news and impacts on our interest rates and more. movesmartly.com READ MORE ... Canadian Mortgage Delinquencies Surge, Up 135% In Ontario: Equifax - Better Dwelling Canadian households are struggling to manage their astronomical debt loans. That’s the warning from credit rating agency Equifax Canada, who noted a surge in both mortgage and non-mortgage credit delinquencies in Q4 2023. The issue is emphasized in pricey BC and Ontario, especially when it comes to young adults.  Canadian Mortgage Delinquency Rates Are Climbing  […] betterdwelling.com READ MORE ... Latest Toronto home sales figures in Is the market heating up? mpamag.com READ MORE ... Will the Bank of Canada cut interest rates tomorrow? Economists spell out expectations mpamag.com READ MORE ... ‘A bright shiny object’: Industry reacts as First-Time Home Buyer Incentive axed The controversial scheme is winding up – and some are welcoming its end mpamag.com READ MORE ... Toronto's housing market is suddenly surging upwards and that includes prices Following a year of sluggish sales activity, Toronto's housing market is continuing to show signs of rebound as we head into spring, according to t... blogto.com READ MORE ... Editor's Note "Welcome to my Newsletter Page! 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