Effective July 1, the following changes will apply for new applications for homeowner transactional and portfolio mortgage insurance:

• Limiting the Gross/Total Debt Servicing (GDS/TDS) ratios to the standard requirements of 35/42;

If you want to buy a home and have less than 20% downpayment, now is the time to have yourself pre-approved for Mortgage as qualification criteria are becoming stringent effective July 1, 2020.

Effective July 1, the following changes will apply for new applications for homeowner transactional and portfolio mortgage insurance:

• Limiting the Gross/Total Debt Servicing (GDS/TDS) ratios to the standard requirements of 35/42;

If you want to buy a home and have less than 20% downpayment, now is the time to have yourself pre-approved for Mortgage as qualification criteria are becoming stringent effective July 1, 2020.

Greater Toronto Area reported 4,606 sales through Toronto Real Estate Board  MLS System in May 2020. This result was down by 53.7 percent compared to May 2019. While the number of sales was down substantially on a year-over-year basis due to the continued impact of COVID-19, the decline was less than the 67.1 percent year-over-year decline reported for April 2020.

Actual May 2020 sales increased by 55.2 percent compared to April 2020. 

The number of new listings entered into TREB's MLS System in May was down by a similar annual rate to that of sales, dipping by 53.1 percent to 9,104. On a month-over-month basis, actual new listings were up by 47.5 percent.

The average selling price for all home types combined was up by three percent compared to May 2019 to $863,599. On a seasonally adjusted basis, the average selling price was up by 4.6 percent month-over-month compared to April 2020.

I am talking with Mr. Arjun Gulati CPA who is working as a Tax Supervisor in Farnham & Company. He has a vast knowledge of the Tax and he explains the benefits being offered by Governments like CERB, CESB & CEWS  to fuel the economy in the Covid-19 Situation. As the saying goes "There ain't no such thing as a free lunch", he suggests some simple strategies to be ready if the Canada Revenue Agency audits in the future. 

I am talking with Mr. Arjun Gulati CPA who is working as a Tax Supervisor in Farnham & Company. He has a vast knowledge of the Tax and he explains the benefits being offered by Governments like CERB, CESB & CEWS  to fuel the economy in the Covid-19 Situation. As the saying goes "There ain't no such thing as a free lunch", he suggests some simple strategies to be ready if the Canada Revenue Agency audits in the future. 

Talk Toronto Real Estate interviews a veteran in the banking industry presently working as a Mortgage Development Manager at the National Bank of Canada "Sameer Jain". How are the banks dealing with the payment deferrals in the COVID-19 situation? He offers a tailored mortgage to his clients at the most competitive rates. Reach him at [email protected].

Talk Toronto Real Estate interviews a veteran in the banking industry presently working as a Mortgage Development Manager at the National Bank of Canada "Sameer Jain". How the banks dealing with the payment deferrals in COVID-19 situation. He offers a tailored mortgage to his clients at the most competitive rates. Reach him at [email protected]. 

As Covid-19 is immensely affecting almost every single  sector of the economy across the globe, this episode gives an insight into what happened in Toronto Real Estate Market in April '20.