Doubling the Rebate on Land-Transfer Tax
Ontario is doubling the rebate on the land-transfer tax for first-time homebuyers to $4,000, but is increasing the same tax on homes that sell for over $2 million. The government says half of first-time buyers won’t pay any land-transfer tax to the province, while the half-percentage point increase on homes over $2 million will affect less than one per cent of the population. Read The Canadian Press article.
More Really Good Reads
Canada’s National Housing Strategy
Thousands of Canadians shared their views, insights and concerns about Canada’s housing during public consultations from June to October 2016. The consensus is clear. Canadians want a National Housing Strategy that will support healthier families and build stronger communities and better housing for all. Find out more about what it means for you. https://goo.gl/X96dlw
Why Trudeau’s Tighter Mortgage Rules Are Likely Canada’s Last
In a recent Bloomberg article, Bank of Canada Governor David Dodge said Canadians should worry more about the supply of homes than the demand. “It’s not very complicated: there’s a supply curve, there’s a demand curve. If you restrict that supply curve then don’t be surprised by high prices,” said Dodge. Read more at: https://goo.gl/tHP4yN
Looking for help with mortgage refinancing or new/resale home mortgage financing? Need a new home ownership strategy? Contact Tracy Irwin, Mortgage Broker for your confidential, no obligation consultation today.
Tracy on a Tight Rope?
It’s a bird, it’s a plane. Nope. It’s a bridge that Tracy and Sid crossed in Squamish, British Columbia during a recent family visit. In 31 days there were only 2 days of sunshine – and guess who managed to catch one of them! Tracy and Sid took the sea to sky gondola and hiked along mountain trails, describing their adventure in one word. Breathtaking.