Why Canadians should think long term in real estate – especially now
Unprecedented doesn’t even begin to describe it. A few weeks ago, we awaited an exceptionally active spring real estate market in the GTA, buoyed by the recent easing of mortgage regulations and interest rates.
Now, however, instead of seeing a spike in buying activity, we’re hunkering down, battening down the hatches and riding out the COVID-19 crisis, all in an attempt to flatten the curve.
Historic, surreal and unbelievable might be more suitable adjectives to describe these times.
And under such circumstances, with normal life routine displaced by the daunting and unknown, people naturally tend to worry.
In real estate, if location, location, location is the No. 1 rule of thumb, thinking long term is right there along with it, as 1A.
We’ve been through similar challenging times: The 1989 recession, Y2K, 9/11, the Great Recession of 2008-09 and SARS. Now we face COVID-19.
At times of economic uncertainty and extreme stress in the marketplace, people always revert to their number one emotional and financial investment – their home. People trust real estate. Buying that first condo, a new home for their growing family, downsizing once the kids move out or renovating the place you already love.
And, so it will be again.
Long-term lift
But don’t take our word for it. Consider, for example this report from the Real Estate Investment Network (REIN), a national group of investors which bases everything it does on independent research.
According to the REIN Special Report: The Coronavirus’ Impact on Canadian Real Estate, Canadian real estate will see an immediate cool-down – but a long-term lift. We may see a temporary decrease in GDP growth, but key drivers of real estate such as population growth and increased foreign capital, demand and property values will eventually rise.
“It’s still premature to predict how the coronavirus outbreak will be resolved, but data suggests that panic will only worsen the country’s economic situation,” says Jennifer Hunt, REIN’s vice-president of research. “There is reason to be alert, but there’s absolutely no reason to further raise alarm and cause more public fear. In fact, as a Canadian real estate investor, this may represent a buying opportunity for investors, with a likely future positive lift in rental and housing markets.”
Open for business
It might be a stretch to say it’s “business as usual,” but life does have to go on, as soon and as safely as possible. New home builders and developers are open for business, are accepting presentation centre visits to by appointment only, and as much as possible are moving communications to digital.
Meanwhile, the Bank of Canada recently lowered its influential overnight rate target twice in less than two weeks – from 1.75 to 1.25 per cent on March 4, then again to 0.75 per cent on March 16. Canada’s Big Five banks are following suit by lowering mortgage rates, and they, too, are increasingly going digital to facilitate business.
Buyer-friendly
All of this means the opportunities to buy are still there (though with a modified process), with less short-term competition and a more buyer-friendly mortgage and borrowing landscape.
Indeed, as challenging as these times may be, it’s even more important to focus on the long term. And on that front, new-home ownership in the GTA is still a solid investment.
Mortgage pre-approval is basically an initial assessment from the lending company where they agree, in principle, only to lend you a certain amount to buy your property.
This Saturday, Sept. 12 marks the Weekend to Conquer Cancer, and once again, as she has done for the last 14 years, new home industry marketing executive Linda O’Connor of Ryan Design International is participating in honour of her friend, Missy Daiter.
Covering a huge swath of land – 288 square kms, 13 km of which front Lake Ontario – Mississauga comprises many distinct neighbourhoods and communities.
Strong growth in sales and prices in the GTA in July was driven primarily by lowrise home types, notably within the city of Toronto, according to the latest data from the Toronto Regional Real Estate Board (TRREB).
Purchasers at Geranium's new home community Edgewood in Pickering will enjoy the water conservation benefits of having a Greyter Home water recycling system included in their home at no extra charge.
Shelter Furniture recognizes your individual style and are sensitive to your space and your vision for your home. With our in store design services, we help you create unique space that helps bring your home to life.
Cosentino is a global, family-owned company that produces and distributes high value innovative surfaces for the world of architecture and design, leaders in their respective segments such as Silestone® Quartz surfaces and Dekton® Ultracompact surfaces. Technologically advanced surfaces that create unique designs for the home and public spaces.
From a modest machine shop in Baltimore to the surface of the moon, we’ve proudly provided innovative solutions for over a century. Discover the pioneering history of BLACK+DECKER.
SFA SANIFLO INC. (“SANIFLO”) is the only manufacturer of its kind in North America offering a complete line of macerating toilet systems for residential and light-commercial applications where installation of plumbing fixtures with below-floor drainage is impossible or cost-prohibitive.
With over 90 years of experience, BLANCO is the leading kitchen sinks and faucets manufacturer. From handcrafted in Germany Steelart® sinks and the beauty of Silgranit®, to the European design faucets, BLANCO products are celebrated worldwide for their unmatched quality and design. Blanco Silgranit® sinks are proudly manufactured in Canada TRADE ONLY.
All-electric fireplace showroom and design centre with the largest selection in Toronto and York Region. Combining specialized expertise with over 20 years' interior design experience. On-wall, in-wall, fireboxes, retrofit inserts, mantels, custom cabinetry, stone and brick veneers. Residential and commercial. Trade and volume inquiries always welcome.
Since 1873, Kohler Co. has been improving the level of gracious living by providing exceptional products and services for our customers’ homes and their lifestyles.
By becoming the standard bearer in the basement renovation industry, we can promote quality materials, professional trades, honest pricing, and better communication standards to create customer advocates and inspire our competitors.
For over 50 years, Faema Canada has introduced the art of traditional Italian Espresso and Cappuccino to Canadians. We carry a variety of premium brands that can be tested at any one of our retail stores. Our selection of machines is only complemented by our assortment of fine espresso blends imported from Italy. Our wide selection of beans can also be brewed and sampled at all of our locations.
Established in 1987, Caesarstone pioneered the original quartz surface and continues to be a leading developer and manufacturer of premium surfaces. Highly functional and design forward, Caesarstone surfaces have endless application possibilities including kitchen countertops, bathroom vanities, wall paneling, furniture and more.
At Riobel we design, create and assemble faucets, shower systems and accessories in our Canadian facility located in St-Jérôme, a suburb of Montréal. Our modern and fashionable products are designed to fit all kitchens or bathrooms. They are easy to install, while mechanical parts are accessible from above the counter to facilitate cleaning and maintenance. Riobel: a benchmark of excellence since 1995!
IKO has grown from humble beginnings to a global leader in the roofing products industry, with more than 3,000 employees worldwide, and state-of-the-art manufacturing plants.
Sharp Electronics of Canada Ltd. is dedicated to improving the lives of consumers through the use of advanced technology. With a commitment to innovation, quality, value and design, Sharp consumer electronics and appliances enhance enjoyment, while adding to comfort.
IMPROVE is totally unique to Canada. Based on the international success of similar concepts throughout the world, IMPROVE understands how to make home improvement much easier and more pleasurable for consumers and trades to shop all under one roof.
As a cooperative with 1,000 stores worldwide, we not only have enormous buying power, but we have partners in all of the major brands, mills and manufacturers.
Euro-Line Appliances has brought elite European engineered appliances to Canadian homes for over 25 years. Our brands exceed expectations and have earned awards in design, engineering, performance, and energy efficiency. All of our cooking, refrigeration, dishwashers, and laundry appliances are created to conserve our non-renewable resources.
Purchasers at Geranium's new home community Edgewood in Pickering will enjoy the water conservation benefits of having a Greyter Home water recycling system included in their home at no extra charge.
Geranium is the first homebuilder in Canada to parcel this feature into the construction of an entire community. For Edgewood homeowners, this will mean reducing their annual water bill by approximately 20 per cent and, for a family of four, saving up to 30,000 litres of water in one year – an amount of water that could fill a 16-by-32-ft. rectangular swimming pool.
"Water is a precious resource and Canadians are one of the highest users per capita worldwide," says Boaz Feiner, president of Geranium. "At home, we use hundreds of litres of water daily by showering, bathing, flushing toilets, running dishwashers and washing machines. In 2013, we learned about Greyter's initiatives for the commercial market. Although there wasn't a residential system available in Canada, they were working towards changing that. Going forward, we decided to include the rough-in for a greywater system in our lowrise homes, something that would be much more costly to do if possible at all, once the house was built. By providing the rough-in, we are giving the owners of our homes the opportunity to buy and install a system when they became available for houses."
Greyter's Home system captures and treats shower and bathwater so it can be reused for flushing toilets. The entire compact system is installed inside the home, requires only five standard plumbing connections and is easy for a professional plumber to install. Additional features are its superior, proprietary filtration and treatment process; low maintenance; low energy requirements; and comes with a touchpad controller that handles all aspects of the system operation and provides the homeowner with performance data, maintenance reminders and tutorials.
Geranium and Greyter will share data collected from the Edgewood homes, with the City of Pickering and Durham Region. Geranium has been selected as the winner of the City of Pickering's 2019 Sustainability Award for its Edgewood community.
geranium.com
Canadian Appliance Source has become the fastest growing provider of Major Home Appliances in Canada for over 10 years, we have grown to include over 13 locations across Ontario & Quebec.
Fusion Stone is an easy and budget-friendly way to beautifully upgrade your home, inside and out. A patented Shouldice innovation, Fusion Stone is a thin stone veneer that is easily installed with the included stainless steel clips & screws. You just screw it to the wall and it’s “Hooked for Life”.
Amercraft specializes in living room radiators, bathroom radiators, bedroom radiators, towel warmers, and heated towel rails in a wide range of colours and styles to fit your home. Whether you are thinking of remodeling or new construction, our collection of Residential Radiators and Towel Warmers will reflect any lifestyle.
Right from our opening in 1989, The Floor Shop has focused on developing extensive product knowledge on all hardwood flooring, engineered hardwoods, exotics and green flooring products. Over the years, we have developed a team of professional installers, accurate estimators, and very informative customer service staffers. Our GTA showrooms feature hundreds of floor samples by species, colour, milling profiles and installation applications.
Our furniture designs run from gracious to contemporary and everything in-between. That's why we can say, with complete confidence, "You'll find it here!" We're proud of the fact that no matter what your taste or budget - we've got furnishings and accessories that will suit your lifestyle - beautifully!
Created by fusion of exceptional design, superior quartz quality and cutting-edge technology, HansStone Quartz weaves together intriguing patterns and colours inspired by the diverse Canadian landscape.
Build Bold Inc is a unique and competitive online marketplace offering the only the best names in building and renovation supplies at great prices. We are an independent, Canadian owned & operated company, located near the Greater Toronto Area. We are constantly striving to enhance and improve our business by offering a simple and convenient online ordering model as well as an easy mobile tool for people on the go.
The Electrical Safety Authority (ESA) is an administrative authority mandated by the Government of Ontario to enhance public electrical safety in the province. We are both a safety regulator and advocate. ESA is a private, not-for-profit corporation headquartered in Mississauga, Ontario with staff deployed across the province.
Canadian mortgages just got a little less stressful
The mortgages landscape just got a little friendlier toward homebuyers – particularly first-timers – and could get even more favourable in the coming months. The Bank of Canada recently announced a decrease of the five-year benchmark mortgage rate 15 basis points, from 5.34 to 5.19 per cent, as a result of the big banks dropping their five-year posted rates.
The move is significant because BoC’s five-year benchmark is the rate against which Canadian borrowers are stress-tested when applying for a mortgage. Borrowers with a down payment of less than 20 per cent must qualify for a mortgage at the Bank’s posted rate, now 5.19 per cent. Borrowers with a down payment that’s greater than 20 per cent are stress-tested against the higher of either their mortgage rate plus two per cent, or the BoC’s posted rate.
“The change in the Bank of Canada five-year benchmark rate now means Canadians can qualify for more home today compared to earlier this year and 2018,” says James Laird, co-founder of Ratehub Inc. and president of CanWise Financial mortgage brokerage. “This decrease alleviates some of the pressure on first-time homebuyers, who are the most financially strained Canadians entering the housing market.”
Improving affordability
According to ratehub.ca, a borrower with an annual household income of $100,000 with a 20-per-cent down payment and a five-year fixed mortgage of 2.70 per cent amortized over 25 years, would have qualified for a home valued at $589,000 at the previous benchmark rate of 5.34 per cent.
With the new qualifying rate of 5.19 per cent, they can now afford home valued at $597,000 – a difference of $8,000, or 1.4 per cent more home.
More rate cuts on the horizon?
When the Bank of Canada held its influential overnight lending rate at 1.75 per cent on July 10 – where it has been since October 2018 – few economists were surprised. After all, the Bank cites, Canada is still dealing with economic weakness from late 2018 and early 2019.
Hardly time for a rate hike.
“The Bank continues to monitor the Canadian energy sector, as well as the impact of international trade conflicts on the global economic outlook,” says Laird. “On a positive note, the Bank is pleased by indications of strong economic growth including a healthy labour market and stabilizing housing market. The Bank recognizes the positive impact that low long-term mortgage rates have had on housing activity.”
There are other factors besides BoC’s overnight rate that influence mortgage rates, but generally speaking, Canada’s major lenders typically follow the Bank’s lead in raising or lowering rates.
The announcement was welcome news for Canadians considering a variable rate mortgage, as BoC has signaled the current interest rate remains appropriate. In the absence of major economic changes, the Bank seems intent to maintain this policy in the near future.
Expecting a decrease
But should there have been a decrease on July 10? And since there wasn’t, is one on the horizon for the next rate announcement on Sept. 4?
According to a report from financial advice organization Finder, assessing BoC’s July 10 decision, two Canadian economists thought there should have been a rate cut. The majority (62 per cent) of panelists predict the next rate change will be a decrease. Stephen Brown, senior economist at Capital Economics, who is among those who says the Bank should have cut the rate in July, foresees a decrease as early as Oct. 30 – and possibly a second reduction on Dec. 4.
For those looking to secure or renew a mortgage, this is all good news. You now have the peace of mind that rates likely won’t rise until next year, and might even decline in the next few months.
Mortgage pre-approval is basically an initial assessment from the lending company where they agree, in principle, only to lend you a certain amount to buy your property.
This Saturday, Sept. 12 marks the Weekend to Conquer Cancer, and once again, as she has done for the last 14 years, new home industry marketing executive Linda O’Connor of Ryan Design International is participating in honour of her friend, Missy Daiter.
Covering a huge swath of land – 288 square kms, 13 km of which front Lake Ontario – Mississauga comprises many distinct neighbourhoods and communities.
Strong growth in sales and prices in the GTA in July was driven primarily by lowrise home types, notably within the city of Toronto, according to the latest data from the Toronto Regional Real Estate Board (TRREB).
Purchasers at Geranium's new home community Edgewood in Pickering will enjoy the water conservation benefits of having a Greyter Home water recycling system included in their home at no extra charge.
Since 1873, Kohler Co. has been improving the level of gracious living by providing exceptional products and services for our customers’ homes and their lifestyles.
At Riobel we design, create and assemble faucets, shower systems and accessories in our Canadian facility located in St-Jérôme, a suburb of Montréal. Our modern and fashionable products are designed to fit all kitchens or bathrooms. They are easy to install, while mechanical parts are accessible from above the counter to facilitate cleaning and maintenance. Riobel: a benchmark of excellence since 1995!
All-electric fireplace showroom and design centre with the largest selection in Toronto and York Region. Combining specialized expertise with over 20 years' interior design experience. On-wall, in-wall, fireboxes, retrofit inserts, mantels, custom cabinetry, stone and brick veneers. Residential and commercial. Trade and volume inquiries always welcome.
Established in 1987, Caesarstone pioneered the original quartz surface and continues to be a leading developer and manufacturer of premium surfaces. Highly functional and design forward, Caesarstone surfaces have endless application possibilities including kitchen countertops, bathroom vanities, wall paneling, furniture and more.
Purchasers at Geranium's new home community Edgewood in Pickering will enjoy the water conservation benefits of having a Greyter Home water recycling system included in their home at no extra charge.
Geranium is the first homebuilder in Canada to parcel this feature into the construction of an entire community. For Edgewood homeowners, this will mean reducing their annual water bill by approximately 20 per cent and, for a family of four, saving up to 30,000 litres of water in one year – an amount of water that could fill a 16-by-32-ft. rectangular swimming pool.
"Water is a precious resource and Canadians are one of the highest users per capita worldwide," says Boaz Feiner, president of Geranium. "At home, we use hundreds of litres of water daily by showering, bathing, flushing toilets, running dishwashers and washing machines. In 2013, we learned about Greyter's initiatives for the commercial market. Although there wasn't a residential system available in Canada, they were working towards changing that. Going forward, we decided to include the rough-in for a greywater system in our lowrise homes, something that would be much more costly to do if possible at all, once the house was built. By providing the rough-in, we are giving the owners of our homes the opportunity to buy and install a system when they became available for houses."
Greyter's Home system captures and treats shower and bathwater so it can be reused for flushing toilets. The entire compact system is installed inside the home, requires only five standard plumbing connections and is easy for a professional plumber to install. Additional features are its superior, proprietary filtration and treatment process; low maintenance; low energy requirements; and comes with a touchpad controller that handles all aspects of the system operation and provides the homeowner with performance data, maintenance reminders and tutorials.
Geranium and Greyter will share data collected from the Edgewood homes, with the City of Pickering and Durham Region. Geranium has been selected as the winner of the City of Pickering's 2019 Sustainability Award for its Edgewood community.
geranium.com
IKO has grown from humble beginnings to a global leader in the roofing products industry, with more than 3,000 employees worldwide, and state-of-the-art manufacturing plants.
Canadian Appliance Source has become the fastest growing provider of Major Home Appliances in Canada for over 10 years, we have grown to include over 13 locations across Ontario & Quebec.
IMPROVE is totally unique to Canada. Based on the international success of similar concepts throughout the world, IMPROVE understands how to make home improvement much easier and more pleasurable for consumers and trades to shop all under one roof.
As a cooperative with 1,000 stores worldwide, we not only have enormous buying power, but we have partners in all of the major brands, mills and manufacturers.
Shelter Furniture recognizes your individual style and are sensitive to your space and your vision for your home. With our in store design services, we help you create unique space that helps bring your home to life.
With over 90 years of experience, BLANCO is the leading kitchen sinks and faucets manufacturer. From handcrafted in Germany Steelart® sinks and the beauty of Silgranit®, to the European design faucets, BLANCO products are celebrated worldwide for their unmatched quality and design. Blanco Silgranit® sinks are proudly manufactured in Canada TRADE ONLY.
From a modest machine shop in Baltimore to the surface of the moon, we’ve proudly provided innovative solutions for over a century. Discover the pioneering history of BLACK+DECKER.
Sharp Electronics of Canada Ltd. is dedicated to improving the lives of consumers through the use of advanced technology. With a commitment to innovation, quality, value and design, Sharp consumer electronics and appliances enhance enjoyment, while adding to comfort.
Euro-Line Appliances has brought elite European engineered appliances to Canadian homes for over 25 years. Our brands exceed expectations and have earned awards in design, engineering, performance, and energy efficiency. All of our cooking, refrigeration, dishwashers, and laundry appliances are created to conserve our non-renewable resources.
By becoming the standard bearer in the basement renovation industry, we can promote quality materials, professional trades, honest pricing, and better communication standards to create customer advocates and inspire our competitors.
For over 50 years, Faema Canada has introduced the art of traditional Italian Espresso and Cappuccino to Canadians. We carry a variety of premium brands that can be tested at any one of our retail stores. Our selection of machines is only complemented by our assortment of fine espresso blends imported from Italy. Our wide selection of beans can also be brewed and sampled at all of our locations.
Cosentino is a global, family-owned company that produces and distributes high value innovative surfaces for the world of architecture and design, leaders in their respective segments such as Silestone® Quartz surfaces and Dekton® Ultracompact surfaces. Technologically advanced surfaces that create unique designs for the home and public spaces.
SFA SANIFLO INC. (“SANIFLO”) is the only manufacturer of its kind in North America offering a complete line of macerating toilet systems for residential and light-commercial applications where installation of plumbing fixtures with below-floor drainage is impossible or cost-prohibitive.
Fusion Stone is an easy and budget-friendly way to beautifully upgrade your home, inside and out. A patented Shouldice innovation, Fusion Stone is a thin stone veneer that is easily installed with the included stainless steel clips & screws. You just screw it to the wall and it’s “Hooked for Life”.
Style, quality expertise. You can find it all at the Hunter Douglas Gallery™. We're your one-stop source for custom window fashions and more. Shop with us and you'll get the best national brands, superlative service and reliable expertise - all provided with a local touch because we're independently owned and operated.
X-Tile is sure to have whatever you need to express your unique individual style. We offer you an exceptional variety of wall and flooring options in ceramic, porcelain, natural stone, glass, mosaic and much more from leading suppliers around the world. Let our knowledgeable and friendly staff help you in your dream renovation or building project.
We manufacture, on premises, the finest and most complete range of wood mouldings, pre-hung and classic doors and have affiliate companies that manufacture roof trusses, stairs and windows.
Looking to secure a mortgage? Now is the best time to negotiate
The Bank of Canada again held its influential overnight lending rate today at 1.75 per cent, signalling the continuation of a stable interest rate environment – and underlining that now may be the best time to negotiate a mortgage.
Why? We’ll get to that in a second.
First, the BoC held the rate for the fifth straight announcement – it’s been at 1.75 since October 2018 – citing growing evidence that the Canadian economic slowdown in late 2018 and early 2019 is now being followed by a pickup in the second quarter this year. Housing market indicators point to a more stable national market, albeit with continued weakness in some regions.
In addition, the Bank says, continued strong job growth suggests that businesses see the weakness in the past two quarters as temporary, with recent data supporting an increase in both consumer spending and exports in the second quarter, and it appears that overall growth in business investment has firmed.
“The Bank’s language indicates that things will need to change to the positive or negative in order to move from their current rate strategy,” says James Laird, co-founder of Ratehub Inc. and president of CanWise Financial. “Therefore, Canadians can expect a stable rate environment for the foreseeable future.
“This announcement should bring peace of mind to consumers currently in a variable rate mortgage because it is unlikely that the prime rate will increase anytime soon,” he adds. “Going forward, a decrease seems as likely as an increase, which is also good news if you’re in a variable rate.”
Mortgage seasonality
Canadians may also be able to take advantage of seasonality in the mortgage industry to score the best deal on their lending rate. Just like spring is known as traditionally the busy season in real estate, it’s also a very good time of year to secure a mortgage.
Ratehub.ca, for example, analyzed historical rate data from 2016 to 2019 to identify the best times of year for Canadians to lock in to a rate, or refinance an existing mortgage.
According to Ratehub.ca’s historical data on the best five-year fixed and variable rates, Canadians have access to the lowest rates during the spring homebuying season – between April and July – every year. The second most competitive time period for mortgage rates occurs between October and December.
A similar story played out in 2017 when the average best five-year fixed rate fell to 2.4 per cent from 3.32 per cent, and the average variable rate dropped from 2.09 per cent to 2.04 per cent.
A year later, 2018 proved that while a rising rate environment can override the benefits any spring mortgage deals, mortgage holders still benefited from certain promos. The average best five-year fixed rate increased from 2.94 per cent from January to March to 3.07 per cent, but the average best variable rate fell from 2.17 per cent to 1.96 per cent. Lenders actually slashed fixed rates over that period.
Spring promotions
“Lenders and mortgage providers come out with their strongest promotions during the busy spring and summer homebuying season,” Laird says. “Regardless of the interest rate environment, springtime is when lenders are willing to make the smallest margins in order to win business.”
During this period, many lenders will choose at least one rate and term to price very aggressively in order to attract attention to all of their mortgage products. Lenders also come out with special promotion offers to incentivize borrowers to lock in a rate. Consumers can expect to see cash-back deals to help with closing costs and refinance fees. Some lenders offer extra-long rate holds during this period. For example, BMO is currently offering a 130-day rate hold. The “30-day quick close rate” is another promotion many lenders opt for – this is a discounted rate that applies if your mortgage is closing in the next 30 to 45 days.
It’s crucial that lenders remain competitive through the spring market, Ratehub says, to hit their annual mortgage volume targets. In most cases, lenders will hit their targets during the second quarter (April to June) and, as a result, tend to be less competitive with promotions during the latter half of the year.
Consumers will typically see rates fall again in October, in the lead up to Oct. 31, when all of Canada’s major banks end their fiscal year. Lenders that want to get an early start on their targets for the following year often come out with promotions during this time period.
Bank results
Further benefiting the mortgage landscape for Canadians is that Canada’s big banks this week are reporting lower second quarter profits than expected.
“The poor results reported by Canada’s big banks in Q2 2019 could be good news for mortgage consumers,” Laird told Homes Publishing. “In light of these results, it would be unsurprising if the banks aggressively try to win mortgage business by offering lower rates to consumers or promotions to attract more business in the latter half of 2019.”
Mortgage pre-approval is basically an initial assessment from the lending company where they agree, in principle, only to lend you a certain amount to buy your property.
This Saturday, Sept. 12 marks the Weekend to Conquer Cancer, and once again, as she has done for the last 14 years, new home industry marketing executive Linda O’Connor of Ryan Design International is participating in honour of her friend, Missy Daiter.
Covering a huge swath of land – 288 square kms, 13 km of which front Lake Ontario – Mississauga comprises many distinct neighbourhoods and communities.
Strong growth in sales and prices in the GTA in July was driven primarily by lowrise home types, notably within the city of Toronto, according to the latest data from the Toronto Regional Real Estate Board (TRREB).
Purchasers at Geranium's new home community Edgewood in Pickering will enjoy the water conservation benefits of having a Greyter Home water recycling system included in their home at no extra charge.
Euro-Line Appliances has brought elite European engineered appliances to Canadian homes for over 25 years. Our brands exceed expectations and have earned awards in design, engineering, performance, and energy efficiency. All of our cooking, refrigeration, dishwashers, and laundry appliances are created to conserve our non-renewable resources.
At Riobel we design, create and assemble faucets, shower systems and accessories in our Canadian facility located in St-Jérôme, a suburb of Montréal. Our modern and fashionable products are designed to fit all kitchens or bathrooms. They are easy to install, while mechanical parts are accessible from above the counter to facilitate cleaning and maintenance. Riobel: a benchmark of excellence since 1995!
Shelter Furniture recognizes your individual style and are sensitive to your space and your vision for your home. With our in store design services, we help you create unique space that helps bring your home to life.
From a modest machine shop in Baltimore to the surface of the moon, we’ve proudly provided innovative solutions for over a century. Discover the pioneering history of BLACK+DECKER.
For over 50 years, Faema Canada has introduced the art of traditional Italian Espresso and Cappuccino to Canadians. We carry a variety of premium brands that can be tested at any one of our retail stores. Our selection of machines is only complemented by our assortment of fine espresso blends imported from Italy. Our wide selection of beans can also be brewed and sampled at all of our locations.
IMPROVE is totally unique to Canada. Based on the international success of similar concepts throughout the world, IMPROVE understands how to make home improvement much easier and more pleasurable for consumers and trades to shop all under one roof.
With over 90 years of experience, BLANCO is the leading kitchen sinks and faucets manufacturer. From handcrafted in Germany Steelart® sinks and the beauty of Silgranit®, to the European design faucets, BLANCO products are celebrated worldwide for their unmatched quality and design. Blanco Silgranit® sinks are proudly manufactured in Canada TRADE ONLY.
IKO has grown from humble beginnings to a global leader in the roofing products industry, with more than 3,000 employees worldwide, and state-of-the-art manufacturing plants.
Cosentino is a global, family-owned company that produces and distributes high value innovative surfaces for the world of architecture and design, leaders in their respective segments such as Silestone® Quartz surfaces and Dekton® Ultracompact surfaces. Technologically advanced surfaces that create unique designs for the home and public spaces.
All-electric fireplace showroom and design centre with the largest selection in Toronto and York Region. Combining specialized expertise with over 20 years' interior design experience. On-wall, in-wall, fireboxes, retrofit inserts, mantels, custom cabinetry, stone and brick veneers. Residential and commercial. Trade and volume inquiries always welcome.
By becoming the standard bearer in the basement renovation industry, we can promote quality materials, professional trades, honest pricing, and better communication standards to create customer advocates and inspire our competitors.
Sharp Electronics of Canada Ltd. is dedicated to improving the lives of consumers through the use of advanced technology. With a commitment to innovation, quality, value and design, Sharp consumer electronics and appliances enhance enjoyment, while adding to comfort.
Canadian Appliance Source has become the fastest growing provider of Major Home Appliances in Canada for over 10 years, we have grown to include over 13 locations across Ontario & Quebec.
SFA SANIFLO INC. (“SANIFLO”) is the only manufacturer of its kind in North America offering a complete line of macerating toilet systems for residential and light-commercial applications where installation of plumbing fixtures with below-floor drainage is impossible or cost-prohibitive.
Since 1873, Kohler Co. has been improving the level of gracious living by providing exceptional products and services for our customers’ homes and their lifestyles.
Established in 1987, Caesarstone pioneered the original quartz surface and continues to be a leading developer and manufacturer of premium surfaces. Highly functional and design forward, Caesarstone surfaces have endless application possibilities including kitchen countertops, bathroom vanities, wall paneling, furniture and more.
Fusion Stone is an easy and budget-friendly way to beautifully upgrade your home, inside and out. A patented Shouldice innovation, Fusion Stone is a thin stone veneer that is easily installed with the included stainless steel clips & screws. You just screw it to the wall and it’s “Hooked for Life”.
As a cooperative with 1,000 stores worldwide, we not only have enormous buying power, but we have partners in all of the major brands, mills and manufacturers.
Purchasers at Geranium's new home community Edgewood in Pickering will enjoy the water conservation benefits of having a Greyter Home water recycling system included in their home at no extra charge.
Geranium is the first homebuilder in Canada to parcel this feature into the construction of an entire community. For Edgewood homeowners, this will mean reducing their annual water bill by approximately 20 per cent and, for a family of four, saving up to 30,000 litres of water in one year – an amount of water that could fill a 16-by-32-ft. rectangular swimming pool.
"Water is a precious resource and Canadians are one of the highest users per capita worldwide," says Boaz Feiner, president of Geranium. "At home, we use hundreds of litres of water daily by showering, bathing, flushing toilets, running dishwashers and washing machines. In 2013, we learned about Greyter's initiatives for the commercial market. Although there wasn't a residential system available in Canada, they were working towards changing that. Going forward, we decided to include the rough-in for a greywater system in our lowrise homes, something that would be much more costly to do if possible at all, once the house was built. By providing the rough-in, we are giving the owners of our homes the opportunity to buy and install a system when they became available for houses."
Greyter's Home system captures and treats shower and bathwater so it can be reused for flushing toilets. The entire compact system is installed inside the home, requires only five standard plumbing connections and is easy for a professional plumber to install. Additional features are its superior, proprietary filtration and treatment process; low maintenance; low energy requirements; and comes with a touchpad controller that handles all aspects of the system operation and provides the homeowner with performance data, maintenance reminders and tutorials.
Geranium and Greyter will share data collected from the Edgewood homes, with the City of Pickering and Durham Region. Geranium has been selected as the winner of the City of Pickering's 2019 Sustainability Award for its Edgewood community.
geranium.com
Since 1989 Men At Work has specialized in renewing and enlarging older houses in core Toronto neighbourhoods. We are experts in managing the challenges of renovating sensitive old buildings into beautiful, functional, comfortable living spaces.
Freedom of the press and humanity are the foundation of Epoch Times; our beginnings hailed from a great need to provide uncensored news to a people immersed in propaganda and censorship in China. Integrity and truthfulness in reporting, together with the stories that really matter, are cornerstones to Epoch Times.
Intercity Realty Inc., Brokerage is a full service independent real estate brokerage firm with two locations in Vaughan. Our company specializes in all types of real estate transactions: re-sale residential, commercial, new homes and condos and land acquisitions. We have marketed and sold real estate in every major market across Vaughan, the GTA and beyond.
Owners of a detached, semi-detached, or row house in the City of Toronto may be eligible for financing through the Home Energy Loan Program. Get low interest financing from the City of Toronto to improve the energy efficiency of your home.
Fixed mortgage interest rates fall, but future hikes likely
Well, that didn’t take long. We reported on Jan. 9 that mortgage interest rates might actually take a dip in the coming weeks.
“The (Bank of Canada’s) moderated outlook in the last two announcements has caused bond yields in Canada to drop lower than any point in 2018,” James Laird, co-founder of Ratehub Inc. and President of CanWise Financial mortgage brokerage, told HOMES Publishing. “However, we are yet to see a corresponding decrease in mortgage rates. We would advise consumers to keep a close eye on mortgage rates in coming weeks.”
RBC first to lower rates
And sure enough, a week or so later, RBC has done just that – lowering its posted five-year fixed rate to 3.74 per cent from 3.89 per cent. It was the first time RBC has lowered this rate since October 2017.
“RBC is the largest mortgage lender in Canada, so whenever they move their mortgage rates, we can expect that the other four banks will follow suit. We anticipate that the other big banks will soon have a publicly posted rate of 3.74 per cent as well.”
Experts have expected this move from lenders since bond yields dropped in December 2018, Laird says, after the BoC announcement stating that future rate hikes would be slower and less frequent. The most recent Bank on Jan. 9 announcement highlighted policymakers’ concerns with Canada’s energy and housing markets, which suggested that rates will be stable for a longer period of time than had previously been anticipated.
Deep discounts
The Bank of Canada held its target for the overnight rate at 1.75 per cent on Jan. 9, where it has been since October 2018, and is lowering its growth forecast this year for Canada and around the world.
Canadians who need a mortgage this year should frequently check rates and mortgage providers. As the spring homebuying market approaches, says Laird, many lenders will offer deep discounts and promotions in order to attract new customers.
“Anyone looking for a variable rate should act quickly, because the current stable interest rate environment is causing lenders to reduce the discounts being offered on variable rate mortgages,” he says.
Let’s explore a couple different scenarios.
Scenario 1: $400,000 mortgage
According to Ratehub.ca’s mortgage payment calculator, a homeowner with a $400,000 mortgage and five-year fixed rate of 3.89 per cent will have monthly mortgage payments of $2,080.
Comparatively, a homeowner with a five-year fixed rate of 3.74 per cent would have monthly mortgage payments of $2,048.
A 0.15-per-cent difference in their mortgage rate would lower mortgage payments by $32 per month, or $384 per year.
Scenario 2: $800,000 mortgage
A homeowner with an $800,000 mortgage and five-year fixed rate of 3.89 per cent will have monthly mortgage payments of $4,161.
Comparatively, a homeowner with a five-year fixed rate of 3.74 per cent would have monthly mortgage payments of $4,096.
A 0.15-per-cent difference in their mortgage rate would lower mortgage payments by $65 per month, or $780 per year.
Hikes likely to come
Personal finance guru and Homes Publishing columnist Rubina Ahmed-Haq says the Bank remains optimistic about Canada’s economy, noting it has performing well overall. In its statement, the Bank says, “Growth has been running close to potential, employment growth has been strong and unemployment is at a 40-year low.” But still not enough to raise rates at this time.
Still, consumers can expect rates to begin to inch higher in the coming months, she says. Forecasters are predicting two hikes this year, down from earlier predictions of as many as three increases in 2019.
Mortgage pre-approval is basically an initial assessment from the lending company where they agree, in principle, only to lend you a certain amount to buy your property.
This Saturday, Sept. 12 marks the Weekend to Conquer Cancer, and once again, as she has done for the last 14 years, new home industry marketing executive Linda O’Connor of Ryan Design International is participating in honour of her friend, Missy Daiter.
Covering a huge swath of land – 288 square kms, 13 km of which front Lake Ontario – Mississauga comprises many distinct neighbourhoods and communities.
Strong growth in sales and prices in the GTA in July was driven primarily by lowrise home types, notably within the city of Toronto, according to the latest data from the Toronto Regional Real Estate Board (TRREB).
Purchasers at Geranium's new home community Edgewood in Pickering will enjoy the water conservation benefits of having a Greyter Home water recycling system included in their home at no extra charge.
At Riobel we design, create and assemble faucets, shower systems and accessories in our Canadian facility located in St-Jérôme, a suburb of Montréal. Our modern and fashionable products are designed to fit all kitchens or bathrooms. They are easy to install, while mechanical parts are accessible from above the counter to facilitate cleaning and maintenance. Riobel: a benchmark of excellence since 1995!
Established in 1987, Caesarstone pioneered the original quartz surface and continues to be a leading developer and manufacturer of premium surfaces. Highly functional and design forward, Caesarstone surfaces have endless application possibilities including kitchen countertops, bathroom vanities, wall paneling, furniture and more.
IMPROVE is totally unique to Canada. Based on the international success of similar concepts throughout the world, IMPROVE understands how to make home improvement much easier and more pleasurable for consumers and trades to shop all under one roof.
Purchasers at Geranium's new home community Edgewood in Pickering will enjoy the water conservation benefits of having a Greyter Home water recycling system included in their home at no extra charge.
Geranium is the first homebuilder in Canada to parcel this feature into the construction of an entire community. For Edgewood homeowners, this will mean reducing their annual water bill by approximately 20 per cent and, for a family of four, saving up to 30,000 litres of water in one year – an amount of water that could fill a 16-by-32-ft. rectangular swimming pool.
"Water is a precious resource and Canadians are one of the highest users per capita worldwide," says Boaz Feiner, president of Geranium. "At home, we use hundreds of litres of water daily by showering, bathing, flushing toilets, running dishwashers and washing machines. In 2013, we learned about Greyter's initiatives for the commercial market. Although there wasn't a residential system available in Canada, they were working towards changing that. Going forward, we decided to include the rough-in for a greywater system in our lowrise homes, something that would be much more costly to do if possible at all, once the house was built. By providing the rough-in, we are giving the owners of our homes the opportunity to buy and install a system when they became available for houses."
Greyter's Home system captures and treats shower and bathwater so it can be reused for flushing toilets. The entire compact system is installed inside the home, requires only five standard plumbing connections and is easy for a professional plumber to install. Additional features are its superior, proprietary filtration and treatment process; low maintenance; low energy requirements; and comes with a touchpad controller that handles all aspects of the system operation and provides the homeowner with performance data, maintenance reminders and tutorials.
Geranium and Greyter will share data collected from the Edgewood homes, with the City of Pickering and Durham Region. Geranium has been selected as the winner of the City of Pickering's 2019 Sustainability Award for its Edgewood community.
geranium.com
From a modest machine shop in Baltimore to the surface of the moon, we’ve proudly provided innovative solutions for over a century. Discover the pioneering history of BLACK+DECKER.
Fusion Stone is an easy and budget-friendly way to beautifully upgrade your home, inside and out. A patented Shouldice innovation, Fusion Stone is a thin stone veneer that is easily installed with the included stainless steel clips & screws. You just screw it to the wall and it’s “Hooked for Life”.
Cosentino is a global, family-owned company that produces and distributes high value innovative surfaces for the world of architecture and design, leaders in their respective segments such as Silestone® Quartz surfaces and Dekton® Ultracompact surfaces. Technologically advanced surfaces that create unique designs for the home and public spaces.
IKO has grown from humble beginnings to a global leader in the roofing products industry, with more than 3,000 employees worldwide, and state-of-the-art manufacturing plants.
By becoming the standard bearer in the basement renovation industry, we can promote quality materials, professional trades, honest pricing, and better communication standards to create customer advocates and inspire our competitors.
Canadian Appliance Source has become the fastest growing provider of Major Home Appliances in Canada for over 10 years, we have grown to include over 13 locations across Ontario & Quebec.
Since 1873, Kohler Co. has been improving the level of gracious living by providing exceptional products and services for our customers’ homes and their lifestyles.
With over 90 years of experience, BLANCO is the leading kitchen sinks and faucets manufacturer. From handcrafted in Germany Steelart® sinks and the beauty of Silgranit®, to the European design faucets, BLANCO products are celebrated worldwide for their unmatched quality and design. Blanco Silgranit® sinks are proudly manufactured in Canada TRADE ONLY.
For over 50 years, Faema Canada has introduced the art of traditional Italian Espresso and Cappuccino to Canadians. We carry a variety of premium brands that can be tested at any one of our retail stores. Our selection of machines is only complemented by our assortment of fine espresso blends imported from Italy. Our wide selection of beans can also be brewed and sampled at all of our locations.
SFA SANIFLO INC. (“SANIFLO”) is the only manufacturer of its kind in North America offering a complete line of macerating toilet systems for residential and light-commercial applications where installation of plumbing fixtures with below-floor drainage is impossible or cost-prohibitive.
Sharp Electronics of Canada Ltd. is dedicated to improving the lives of consumers through the use of advanced technology. With a commitment to innovation, quality, value and design, Sharp consumer electronics and appliances enhance enjoyment, while adding to comfort.
Euro-Line Appliances has brought elite European engineered appliances to Canadian homes for over 25 years. Our brands exceed expectations and have earned awards in design, engineering, performance, and energy efficiency. All of our cooking, refrigeration, dishwashers, and laundry appliances are created to conserve our non-renewable resources.
As a cooperative with 1,000 stores worldwide, we not only have enormous buying power, but we have partners in all of the major brands, mills and manufacturers.
All-electric fireplace showroom and design centre with the largest selection in Toronto and York Region. Combining specialized expertise with over 20 years' interior design experience. On-wall, in-wall, fireboxes, retrofit inserts, mantels, custom cabinetry, stone and brick veneers. Residential and commercial. Trade and volume inquiries always welcome.
Shelter Furniture recognizes your individual style and are sensitive to your space and your vision for your home. With our in store design services, we help you create unique space that helps bring your home to life.
Specializing in all storage solutions, we cater to both the residential and commercial sectors. We also closely work with interior designers and builders to make sure your storage space goes beyond your expectations. With more than 20 years experience in the industry, we stand behind the quality of our products and guarantee our workmanship.
W.B. Fowler provides home and business with customized conveying systems, wood lifts, and dumbwaiters. Our products are efficient and safe, and feature easy custom installation. The WoodWaiter and HandyWaiter are mini elevators for the vertical lift of firewood, groceries, food, supplies.
Euro-Line Appliances has brought elite European engineered appliances to Canadian homes for over 25 years. Our brands exceed expectations and have earned awards in design, engineering, performance, and energy efficiency. Euro-Line Appliances are proud distributors of products from AEG, LIEBHERR, PORTER&CHARLES, SMEG, and FRANKE in Canada.
If you’ve got a project in mind, whether it’s a major renovation, or a small interior design update, the National Home Show is the place to go for inspiration, resources, and to meet the people and companies that can help you get it done.
We are a full service design firm in Aurora. With over 22 years of industry experience and a well-appointed 10,000 sq. ft. showroom introducing the latest in unique home furnishings, lighting, window treatments, area rugs, accessories, wall art and more.
Bank of Canada holds interest rate for now, but hikes still to come
The Bank of Canada held its target for the overnight rate at 1.75 per cent on Jan. 9, where it has been since October 2018, and is lowering its growth forecast this year for Canada and around the world.
After raising the rate three times last year, some experts expected the Bank would do so again, either in late 2018 or early this year.
So, what does this latest non-action mean, and what can Canadian consumers expect in the coming months?
“The Bank gave several reasons for its decision to keep rates steady,” says Rubina Ahmed-Haq, personal finance guru and Homes Publishing columnist. “This includes lower oil prices, a weaker outlook for the global economy and Canada’s economy slowing more than expected.
Weaker investment
“It was a surprise that market pessimism did not come up,” she adds. “Despite stock market volatility making headlines for the last two months, there was no mention of the wild swings investors have been experiencing. The Bank did talk about weaker consumer spending and housing investment. This could be because of Canadian investors watching their portfolios and not feeling as confident in their spending.”
Sill, Ahmed-Haq says, the Bank remains very rosy on Canada’s economy, noting it has performing well overall. In its statement, the Bank says, “Growth has been running close to potential, employment growth has been strong and unemployment is at a 40-year low.” But still not enough to raise rates at this time.
Energy sector a concern
“The energy sector has been a concern for the Bank for some time now, but there seems to be a new focus on the housing sector, especially on the impact of mortgage guidelines changes and the five rate increases that have happened in the past 18 months,” James Laird, co-founder of Ratehub Inc. and President of CanWise Financial mortgage brokerage, told Homes Publishing.
Ahmed-Haq and Laird agree we should still expect higher rates in the coming months.
“The policy interest rate will need to rise over time into a neutral range to achieve the inflation target,” says Ahmed-Haq.
Rate hikes to come
Forecasters are now predicting two rate hikes this year, down from earlier predictions of as many as three rates hikes in 2019.
“The Bank’s moderated outlook in the last two announcements has caused bond yields in Canada to drop lower than any point in 2018,” says Laird. “However, we are yet to see a corresponding decrease in mortgage rates. We would advise consumers to keep a close eye on mortgage rates in coming weeks.”
Highlights from the Bank’s announcement
Bank of Canada maintains target for overnight rate at 1.75 per cent
Canadian economy performing well overall
Employment growth strong
Unemployment rate at 40-year low
Canadian consumption spending and housing investment weaker than expected
Housing markets adjusting to municipal and provincial measures, new mortgage guidelines and higher interest rates
Household spending to be dampened by slow growth in oil-producing provinces
Mortgage pre-approval is basically an initial assessment from the lending company where they agree, in principle, only to lend you a certain amount to buy your property.
This Saturday, Sept. 12 marks the Weekend to Conquer Cancer, and once again, as she has done for the last 14 years, new home industry marketing executive Linda O’Connor of Ryan Design International is participating in honour of her friend, Missy Daiter.
Covering a huge swath of land – 288 square kms, 13 km of which front Lake Ontario – Mississauga comprises many distinct neighbourhoods and communities.
Strong growth in sales and prices in the GTA in July was driven primarily by lowrise home types, notably within the city of Toronto, according to the latest data from the Toronto Regional Real Estate Board (TRREB).
Purchasers at Geranium's new home community Edgewood in Pickering will enjoy the water conservation benefits of having a Greyter Home water recycling system included in their home at no extra charge.
IMPROVE is totally unique to Canada. Based on the international success of similar concepts throughout the world, IMPROVE understands how to make home improvement much easier and more pleasurable for consumers and trades to shop all under one roof.
SFA SANIFLO INC. (“SANIFLO”) is the only manufacturer of its kind in North America offering a complete line of macerating toilet systems for residential and light-commercial applications where installation of plumbing fixtures with below-floor drainage is impossible or cost-prohibitive.
Shelter Furniture recognizes your individual style and are sensitive to your space and your vision for your home. With our in store design services, we help you create unique space that helps bring your home to life.
Fusion Stone is an easy and budget-friendly way to beautifully upgrade your home, inside and out. A patented Shouldice innovation, Fusion Stone is a thin stone veneer that is easily installed with the included stainless steel clips & screws. You just screw it to the wall and it’s “Hooked for Life”.
Sharp Electronics of Canada Ltd. is dedicated to improving the lives of consumers through the use of advanced technology. With a commitment to innovation, quality, value and design, Sharp consumer electronics and appliances enhance enjoyment, while adding to comfort.
As a cooperative with 1,000 stores worldwide, we not only have enormous buying power, but we have partners in all of the major brands, mills and manufacturers.
Canadian Appliance Source has become the fastest growing provider of Major Home Appliances in Canada for over 10 years, we have grown to include over 13 locations across Ontario & Quebec.
From a modest machine shop in Baltimore to the surface of the moon, we’ve proudly provided innovative solutions for over a century. Discover the pioneering history of BLACK+DECKER.
Cosentino is a global, family-owned company that produces and distributes high value innovative surfaces for the world of architecture and design, leaders in their respective segments such as Silestone® Quartz surfaces and Dekton® Ultracompact surfaces. Technologically advanced surfaces that create unique designs for the home and public spaces.
Since 1873, Kohler Co. has been improving the level of gracious living by providing exceptional products and services for our customers’ homes and their lifestyles.
Euro-Line Appliances has brought elite European engineered appliances to Canadian homes for over 25 years. Our brands exceed expectations and have earned awards in design, engineering, performance, and energy efficiency. All of our cooking, refrigeration, dishwashers, and laundry appliances are created to conserve our non-renewable resources.
At Riobel we design, create and assemble faucets, shower systems and accessories in our Canadian facility located in St-Jérôme, a suburb of Montréal. Our modern and fashionable products are designed to fit all kitchens or bathrooms. They are easy to install, while mechanical parts are accessible from above the counter to facilitate cleaning and maintenance. Riobel: a benchmark of excellence since 1995!
With over 90 years of experience, BLANCO is the leading kitchen sinks and faucets manufacturer. From handcrafted in Germany Steelart® sinks and the beauty of Silgranit®, to the European design faucets, BLANCO products are celebrated worldwide for their unmatched quality and design. Blanco Silgranit® sinks are proudly manufactured in Canada TRADE ONLY.
IKO has grown from humble beginnings to a global leader in the roofing products industry, with more than 3,000 employees worldwide, and state-of-the-art manufacturing plants.
All-electric fireplace showroom and design centre with the largest selection in Toronto and York Region. Combining specialized expertise with over 20 years' interior design experience. On-wall, in-wall, fireboxes, retrofit inserts, mantels, custom cabinetry, stone and brick veneers. Residential and commercial. Trade and volume inquiries always welcome.
For over 50 years, Faema Canada has introduced the art of traditional Italian Espresso and Cappuccino to Canadians. We carry a variety of premium brands that can be tested at any one of our retail stores. Our selection of machines is only complemented by our assortment of fine espresso blends imported from Italy. Our wide selection of beans can also be brewed and sampled at all of our locations.
Purchasers at Geranium's new home community Edgewood in Pickering will enjoy the water conservation benefits of having a Greyter Home water recycling system included in their home at no extra charge.
Geranium is the first homebuilder in Canada to parcel this feature into the construction of an entire community. For Edgewood homeowners, this will mean reducing their annual water bill by approximately 20 per cent and, for a family of four, saving up to 30,000 litres of water in one year – an amount of water that could fill a 16-by-32-ft. rectangular swimming pool.
"Water is a precious resource and Canadians are one of the highest users per capita worldwide," says Boaz Feiner, president of Geranium. "At home, we use hundreds of litres of water daily by showering, bathing, flushing toilets, running dishwashers and washing machines. In 2013, we learned about Greyter's initiatives for the commercial market. Although there wasn't a residential system available in Canada, they were working towards changing that. Going forward, we decided to include the rough-in for a greywater system in our lowrise homes, something that would be much more costly to do if possible at all, once the house was built. By providing the rough-in, we are giving the owners of our homes the opportunity to buy and install a system when they became available for houses."
Greyter's Home system captures and treats shower and bathwater so it can be reused for flushing toilets. The entire compact system is installed inside the home, requires only five standard plumbing connections and is easy for a professional plumber to install. Additional features are its superior, proprietary filtration and treatment process; low maintenance; low energy requirements; and comes with a touchpad controller that handles all aspects of the system operation and provides the homeowner with performance data, maintenance reminders and tutorials.
Geranium and Greyter will share data collected from the Edgewood homes, with the City of Pickering and Durham Region. Geranium has been selected as the winner of the City of Pickering's 2019 Sustainability Award for its Edgewood community.
geranium.com
Established in 1987, Caesarstone pioneered the original quartz surface and continues to be a leading developer and manufacturer of premium surfaces. Highly functional and design forward, Caesarstone surfaces have endless application possibilities including kitchen countertops, bathroom vanities, wall paneling, furniture and more.
By becoming the standard bearer in the basement renovation industry, we can promote quality materials, professional trades, honest pricing, and better communication standards to create customer advocates and inspire our competitors.
Euro-Line Appliances has brought elite European engineered appliances to Canadian homes for over 25 years. Our brands exceed expectations and have earned awards in design, engineering, performance, and energy efficiency. All of our cooking, refrigeration, dishwashers, and laundry appliances are created to conserve our non-renewable resources.
Let Tapestry Decor Bring your ideas to Life!!! From Custom Drapery to full Interior Renovations, we cover all your needs from A to Z. Tapestry Decor is a distinctive establishment offering Full Interior Design and Decor services.
For over 50 years, Irpinia Kitchens has evolved into a cabinet manufacturer with a focus on quality and fine detail, serving a network of dealers and clients both in Canada and internationally.
Right from our opening in 1989, The Floor Shop has focused on developing extensive product knowledge on all hardwood flooring, engineered hardwoods, exotics and green flooring products. Over the years, we have developed a team of professional installers, accurate estimators, and very informative customer service staffers. Our GTA showrooms feature hundreds of floor samples by species, colour, milling profiles and installation applications.
Started in 2002, the Ride for Karen is a yearly cycling event that is held as a tribute to the life and legacy of Karen Tobias and to raise money to send children with cancer to camp.
Interest rate hikes may not cost you as much as you think
By Wayne Karl
When the Bank of Canada announced an interest rate hike on Oct. 24 – and within hours all of Canada’s major banks followed suit in hiking their prime lending rates – consumers largely groaned.
All of CIBC, TD Canada Trust, Scotiabank, RBC Royal Bank and BMO Bank of Montreal almost immediately issued virtually the same statement, word for word: “(Insert bank name here) announced that it has increased its prime lending rate by 25 basis points from 3.70 per cent to 3.95 per cent, effective Oct. 25, 2018.”
Yes, the numbers, too, are identical.
BoC had already raised its influential overnight rate target three times since July 2017, to 1.5 per cent from 0.75 per cent, and now this most recent hike to 1.75 per cent, while hinting that further increases are likely.
For mortgage holders, though, the increases may not cost you as much as you fear.
Fixed rates
The majority of Canadian mortgage holders are on fixed-rate products, which is why a more moderate pace of rate increases likely won’t impact the market significantly, according to Canada Mortgage and Housing Corp. (CMHC).
Nearly half of existing mortgages in Canada will come up for renewal in 2018, according to a data release from CIBC Capital Markets. However, despite having to renew their mortgage in a rising interest rate environment, a borrower with a five-year mortgage rate may be able to get a better deal on their mortgage renewal today than when they entered the housing market five years ago.
According to calculations from mortgage rate comparison website Ratehub.ca:
The best five-year fixed rate in September 2013 was 3.29 per cent. With that rate, a borrower with a $400,000 mortgage amortized over 25 years would have had a monthly mortgage payment of $1,953 over the last five years.
If that same borrower renewed their mortgage at today’s best five-year fixed rate of 3.19 per cent, their monthly mortgage payment would decrease by $17 per month to $1,936.
“Canadians who require a new mortgage in coming months should lock in a fixed rate as soon as possible,” says James Laird, co-founder of Ratehub Inc. and president of CanWise Financial. “This includes those who are purchasing a home, and homeowners whose mortgage is coming up for renewal.
“Remember that, on average, mortgage providers will offer their existing customers a discount of 0.25 per cent off their posted rate on a renewal. However, there may be more competitive rates out there. Be sure to shop around online or use a mortgage broker to negotiate the best rate for your renewal.”
Laird says borrowers should begin shopping around 120 days in advance of their renewal date in order to negotiate a competitive mortgage rate.
A rising interest rate environment could put downward pressure on home prices, he says, but upward pressure will come from predicted economic growth, lack of housing supply, immigration and first-time homebuyers.
Variable rates
“Borrowers should expect variable rates to perfectly correlate with Bank of Canada rate increases,” Laird says. “Variable rate mortgage holders should also be prepared for several increases to their interest rate in coming months and, with general interest rates in Canada on the rise, fixed rates will rise as well. However, those currently in fixed rates have nothing to worry about until their next mortgage renewal date.”
Simple home upgrades are not complicated at all, but they might take some time to complete. So if you are willing to put in the work, the results will be stunning.
IKO has grown from humble beginnings to a global leader in the roofing products industry, with more than 3,000 employees worldwide, and state-of-the-art manufacturing plants.
Since 1873, Kohler Co. has been improving the level of gracious living by providing exceptional products and services for our customers’ homes and their lifestyles.
Fusion Stone is an easy and budget-friendly way to beautifully upgrade your home, inside and out. A patented Shouldice innovation, Fusion Stone is a thin stone veneer that is easily installed with the included stainless steel clips & screws. You just screw it to the wall and it’s “Hooked for Life”.
From a modest machine shop in Baltimore to the surface of the moon, we’ve proudly provided innovative solutions for over a century. Discover the pioneering history of BLACK+DECKER.
Sharp Electronics of Canada Ltd. is dedicated to improving the lives of consumers through the use of advanced technology. With a commitment to innovation, quality, value and design, Sharp consumer electronics and appliances enhance enjoyment, while adding to comfort.
Shelter Furniture recognizes your individual style and are sensitive to your space and your vision for your home. With our in store design services, we help you create unique space that helps bring your home to life.
ROCKWOOL insulation is the sustainable way to make an impact on the challenges of climate change, urbanisation, improving people’s health and quality of life, and resource scarcity.
Established in 1987, Caesarstone pioneered the original quartz surface and continues to be a leading developer and manufacturer of premium surfaces. Highly functional and design forward, Caesarstone surfaces have endless application possibilities including kitchen countertops, bathroom vanities, wall paneling, furniture and more.
Canadian Appliance Source has become the fastest growing provider of Major Home Appliances in Canada for over 10 years, we have grown to include over 13 locations across Ontario & Quebec.
Has the pandemic indefinitely changed the way you live and dress? Casual wear has become de rigueur, with pyjama and sweatpants breaking sales records this year. And, with so many working from home and spending more time inside, many homeowners are rethinking how they can make their spaces more organized, functional and relaxed. We have entered a new age of comfort. When the outside world seems daunting, we want our homes to be a source of solace, our clothes to be unrestrictive and unapologetic. As the winter bears down on us and restrictions change weekly, sheltering in place should be a time to slow down and surround ourselves with life's little pleasures. It could be mastering the art of sour dough bread, curling up by a fire with family or snuggling in a super soft throw – whatever comfort means to you, embrace it and let it carry you through the pandemic.
1. Gardin plaid COTTON FLANNEL SHEET SET by Gracie Oaks. $122.99. wayfair.ca
2. Ribbed SATIN SCRUNCHIES $12 (set of three). simons.ca
3. Morgan mantel ELECTRIC FIREPLACE. $359. dimplex.com
4. TEXA POUF in vanilla ivory. $179. article.com
5. CRISS FOG GRAY PILLOW. $69. article.com
6. NEW WORLD SOURDOUGH: Artisan techniques for creative homemade fermented breads. $37.99. indigo.ca
7. Sven faux shearling THREESEATER SOFA in cream. $699. structube.com
8. ULSTA FAIR ISLE THROW. $159.95. crateandbarrel.ca
9. RIBBED TURTLENECK SWEATER in light beige. $34.99. hm.com
10. Arizona genuine SHEARLING SLIDE SANDAL in coin suede by Birkenstock. $190. birkenstock.com
By becoming the standard bearer in the basement renovation industry, we can promote quality materials, professional trades, honest pricing, and better communication standards to create customer advocates and inspire our competitors.
Cosentino is a global, family-owned company that produces and distributes high value innovative surfaces for the world of architecture and design, leaders in their respective segments such as Silestone® Quartz surfaces and Dekton® Ultracompact surfaces. Technologically advanced surfaces that create unique designs for the home and public spaces.
All-electric fireplace showroom and design centre with the largest selection in Toronto and York Region. Combining specialized expertise with over 20 years' interior design experience. On-wall, in-wall, fireboxes, retrofit inserts, mantels, custom cabinetry, stone and brick veneers. Residential and commercial. Trade and volume inquiries always welcome.
At Riobel we design, create and assemble faucets, shower systems and accessories in our Canadian facility located in St-Jérôme, a suburb of Montréal. Our modern and fashionable products are designed to fit all kitchens or bathrooms. They are easy to install, while mechanical parts are accessible from above the counter to facilitate cleaning and maintenance. Riobel: a benchmark of excellence since 1995!
As a cooperative with 1,000 stores worldwide, we not only have enormous buying power, but we have partners in all of the major brands, mills and manufacturers.
With over 90 years of experience, BLANCO is the leading kitchen sinks and faucets manufacturer. From handcrafted in Germany Steelart® sinks and the beauty of Silgranit®, to the European design faucets, BLANCO products are celebrated worldwide for their unmatched quality and design. Blanco Silgranit® sinks are proudly manufactured in Canada TRADE ONLY.
SFA SANIFLO INC. (“SANIFLO”) is the only manufacturer of its kind in North America offering a complete line of macerating toilet systems for residential and light-commercial applications where installation of plumbing fixtures with below-floor drainage is impossible or cost-prohibitive.
IMPROVE is totally unique to Canada. Based on the international success of similar concepts throughout the world, IMPROVE understands how to make home improvement much easier and more pleasurable for consumers and trades to shop all under one roof.
For over 50 years, Faema Canada has introduced the art of traditional Italian Espresso and Cappuccino to Canadians. We carry a variety of premium brands that can be tested at any one of our retail stores. Our selection of machines is only complemented by our assortment of fine espresso blends imported from Italy. Our wide selection of beans can also be brewed and sampled at all of our locations.
Euro-Line Appliances has brought elite European engineered appliances to Canadian homes for over 25 years. Our brands exceed expectations and have earned awards in design, engineering, performance, and energy efficiency. All of our cooking, refrigeration, dishwashers, and laundry appliances are created to conserve our non-renewable resources.
At Delta Faucet, our kitchen faucets, bathroom faucets and shower systems pair inspirational design with innovations that anticipate people's needs, like Touch20® Technology faucets that turn on with just a touch and In2ition® Showers with integrated shower heads and hand showers.
All of the products for sale at Prima Home Hardware Inc. and expertly handcrafted and finished with an impeccable sense of artistry to give our customers the finest quality, most beautiful pieces that can be found today.
Atlantis Bath Centre is committed to providing clients with exceptional service and quality plumbing products that reflect their personality and lifestyle. Channeling the latest design trends and the desires of the client, Atlantis is the one-stop-shop for every kitchen and bathroom project. Visit one of our locations and experience the Atlantis difference.
7 factors that will affect GTA housing in 2019 – and 5 reasons to consider buying NOW
By Wayne Karl
GTA homebuyers, we have some good news and some bad news.
First, the good news: You live in one of the most desirable areas and housing markets in Canada – maybe even the world.
The bad news? That affordability challenge we’re all facing.
“The affordability issue is not going away,” PricewaterhouseCoopers says plainly, in its Emerging Trends in Real Estate 2019 report.
Why? See point number one.
“Potential homebuyers will need to alter their expectations and possibly delay entry into homeownership,” Dana Senagama, manager, market analysis for Canada Mortgage and Housing Corp. (CMHC), told Homes Publishing.
Not exactly the most hopeful outlook for those – especially first-timers – looking to buy a home in and around the GTA.
But it’s not all bad. Let’s look at what’s going on in the market, and what would-be buyers can do to help their cause.
1 Return to price growth
Following the introduction of the Ontario Fair Housing Plan in April 2017, recent interest rate hikes and other changes, sales and prices in the GTA have seen some moderation.
But the slowing will be short-lived, Senagama says. Key economic fundamentals such as population and employment growth will continue to drive housing market demand, but the supply of new homes is not being addressed. The result? A return to price growth.
“CMHC is working on data gaps like supply with many industry stakeholders and partners,” she says. “Currently, we are participating in a working group with the province of Ontario to find solutions and best practices.”
PwC says the region is feeling the effects of demographic shifts. Millennials have begun to compete with Baby Boomers for real estate, and over the next decade, almost 700,000 first-time buyers will target the GTA or Hamilton markets, according to a May 2018 report from the Ontario Real Estate Association.
2 Risk of overvaluation
Senagama cautions, however, that the Toronto market is still showing signs of overvaluation.
“This happens when house price growth is surpassing the population and income growth. So, despite some of the moderation you’re seeing, we’re still calling for a high degree of vulnerability in Toronto in the foreseeable future.”
3 Inelastic supply
The GTA housing market is characterized by inelastic supply. “Supply is slow to respond to any change in price, and we’re seeing that time and time again,” she says.
Recent research from CMHC and Altus Group, in fact, shows that of the lowrise new home projects that were started in 2016 and 2017, it took 15 years for those developments to go from the initial land purchase to product hitting the market.
Source: CMHC
“We have a problem, in terms of supply.”
With very limited new home supply hitting the market, once buyers get used to temporary shocks to the system brought on by policy issues and rising interest rates, they return to buying homes, which in turn drives up prices.
4 Condo demand
With lowrise home prices enjoying spectacular growth in recent years, there was a compositional shift in demand toward less expensive product – namely condos – particular among first-time buyers.
But now, with price growth even in this category – with average condo prices rising 8.4 per cent year-over-year to $552,269 in the third quarter this year – and pre-construction units in the $700,000 range…
“These are not price points for first-time buyers,” Senagama says, “so we’re still looking at very high prices across the GTA.”
5 Mortgage rates
The Bank of Canada has already raised its influential overnight rate target three times since July 2017, to 1.5 per cent from 0.75 per cent. Experts expect at least one more increase this year, possibly as early as the next rate announcement on Oct. 24.
A more moderate pace of rate increases could impact the market, but not significantly since the majority of mortgage holders are on fixed-rate mortgages, CMHC research shows.
6 Rental market
Any discussion about affordability needs to include the rental market, Senagama says. “Much like the ownership segment, supply is a huge constraint in the Toronto rental market.”
With the average vacancy rate in the GTA 1.1 per cent, and 0.7 per cent for condo rentals, rental rate increases are picking up steam. “Because we have a supply problem. And because we don’t have enough supply of the purpose-built rental units, the gap has been filled in by the condo market.”
About 33 per cent of all condos in Toronto are being rented out by investors, according to CMHC. This results in renters paying a much higher premium to rent a condo versus a purpose-built apartment – on average 50 per cent more, for a two-bedroom unit.
“We talk about affordability, and this raises so many other concerns, especially in a market that is supply-strapped,” Senagama says.
7 Catch 22
investors are buying into the condo market to rent out their units, taking advantage of the tight rental market. But first-time buyers – who typically aren’t equity-rich or wealthy – have to compete for available condo product, which again drives up prices.
5 REASONS TO BUY A HOME NOW (OR AS SOON AS YOU CAN)
1 Affordability
More supply of new homes is a big part of the solution. But despite ongoing lobbying from the housing industry, and apparent increasing awareness of new elected municipal leaders, this problem won’t be solved overnight. It will take time. Lots of it. In the meantime, as PricewaterhouseCoopers says: The affordability issue is not going away. It might even get worse before it gets better.
2 Market moderation waning
With little relief on the supply side expected, price growth will continue to be strong, even if somewhat muted compared to the double-digit increases seen over the last few years. In short, the longer buyers wait, the more it could cost you.
3 Interest rates
Experts expect at least one more increase this year, possibly as early as the next rate announcement on Oct. 24. To protect yourself against a more moderate pace of rate increases, consider a fixed-rate mortgage product.
4 Pent-up demand
Buyers believe prices are going to increase, but not to the same degree we’ve seen in recent years. This will lead to pent-up demand, which when released over the next year, will contribute to increasing buying activity and rising prices. So, if you’re able to buy before then, you could beat the rush.
5 Rental market
If you’re a Millennial planning to move out of home and into the rental market, consider this: Toronto is the most expensive Canadian rental market, with average rates for one-bedroom units at slightly more than $1,900 per month (up 2.8 per cent from August to September); $2,374 for two-bedrooms (up 7.1 per cent). Try saving up for a down payment at those rates; maybe staying at home a little longer isn’t so bad after all.
Wayne Karl is Senior Digital Editor at Homes Publishing. wayne.karl@homesmag.com
Mortgage pre-approval is basically an initial assessment from the lending company where they agree, in principle, only to lend you a certain amount to buy your property.
This Saturday, Sept. 12 marks the Weekend to Conquer Cancer, and once again, as she has done for the last 14 years, new home industry marketing executive Linda O’Connor of Ryan Design International is participating in honour of her friend, Missy Daiter.
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Strong growth in sales and prices in the GTA in July was driven primarily by lowrise home types, notably within the city of Toronto, according to the latest data from the Toronto Regional Real Estate Board (TRREB).
Purchasers at Geranium's new home community Edgewood in Pickering will enjoy the water conservation benefits of having a Greyter Home water recycling system included in their home at no extra charge.
Fusion Stone is an easy and budget-friendly way to beautifully upgrade your home, inside and out. A patented Shouldice innovation, Fusion Stone is a thin stone veneer that is easily installed with the included stainless steel clips & screws. You just screw it to the wall and it’s “Hooked for Life”.
As a cooperative with 1,000 stores worldwide, we not only have enormous buying power, but we have partners in all of the major brands, mills and manufacturers.
Canadian Appliance Source has become the fastest growing provider of Major Home Appliances in Canada for over 10 years, we have grown to include over 13 locations across Ontario & Quebec.
Since 1873, Kohler Co. has been improving the level of gracious living by providing exceptional products and services for our customers’ homes and their lifestyles.
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IMPROVE is totally unique to Canada. Based on the international success of similar concepts throughout the world, IMPROVE understands how to make home improvement much easier and more pleasurable for consumers and trades to shop all under one roof.
For over 50 years, Faema Canada has introduced the art of traditional Italian Espresso and Cappuccino to Canadians. We carry a variety of premium brands that can be tested at any one of our retail stores. Our selection of machines is only complemented by our assortment of fine espresso blends imported from Italy. Our wide selection of beans can also be brewed and sampled at all of our locations.
All-electric fireplace showroom and design centre with the largest selection in Toronto and York Region. Combining specialized expertise with over 20 years' interior design experience. On-wall, in-wall, fireboxes, retrofit inserts, mantels, custom cabinetry, stone and brick veneers. Residential and commercial. Trade and volume inquiries always welcome.
Euro-Line Appliances has brought elite European engineered appliances to Canadian homes for over 25 years. Our brands exceed expectations and have earned awards in design, engineering, performance, and energy efficiency. All of our cooking, refrigeration, dishwashers, and laundry appliances are created to conserve our non-renewable resources.
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Purchasers at Geranium's new home community Edgewood in Pickering will enjoy the water conservation benefits of having a Greyter Home water recycling system included in their home at no extra charge.
Geranium is the first homebuilder in Canada to parcel this feature into the construction of an entire community. For Edgewood homeowners, this will mean reducing their annual water bill by approximately 20 per cent and, for a family of four, saving up to 30,000 litres of water in one year – an amount of water that could fill a 16-by-32-ft. rectangular swimming pool.
"Water is a precious resource and Canadians are one of the highest users per capita worldwide," says Boaz Feiner, president of Geranium. "At home, we use hundreds of litres of water daily by showering, bathing, flushing toilets, running dishwashers and washing machines. In 2013, we learned about Greyter's initiatives for the commercial market. Although there wasn't a residential system available in Canada, they were working towards changing that. Going forward, we decided to include the rough-in for a greywater system in our lowrise homes, something that would be much more costly to do if possible at all, once the house was built. By providing the rough-in, we are giving the owners of our homes the opportunity to buy and install a system when they became available for houses."
Greyter's Home system captures and treats shower and bathwater so it can be reused for flushing toilets. The entire compact system is installed inside the home, requires only five standard plumbing connections and is easy for a professional plumber to install. Additional features are its superior, proprietary filtration and treatment process; low maintenance; low energy requirements; and comes with a touchpad controller that handles all aspects of the system operation and provides the homeowner with performance data, maintenance reminders and tutorials.
Geranium and Greyter will share data collected from the Edgewood homes, with the City of Pickering and Durham Region. Geranium has been selected as the winner of the City of Pickering's 2019 Sustainability Award for its Edgewood community.
geranium.com
With over 90 years of experience, BLANCO is the leading kitchen sinks and faucets manufacturer. From handcrafted in Germany Steelart® sinks and the beauty of Silgranit®, to the European design faucets, BLANCO products are celebrated worldwide for their unmatched quality and design. Blanco Silgranit® sinks are proudly manufactured in Canada TRADE ONLY.
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