Greater Toronto Area (GTA) home prices fell in August for the third straight month as higher borrowing costs and economic uncertainty weighed on market activity. The average price of a GTA home fell 3.1% in August from July to C$1,082,496 ($793,619), while the number of sales was up 0.9%, Toronto Regional Real Estate Board (TRREB) data showed on Wednesday. 'In the short term, we will likely continue to see some volatility in terms of sales and home prices, as buyers and sellers wait for more certainty on the direction of borrowing costs and the overall economy,' TRREB President Paul Baron said in a statement.
Create a defensive passive income portfolio with stocks like Fortis. The post How to Build a Bulletproof Passive Income Portfolio With Just $10,000 appeared first on The Motley Fool Canada."But if the price of saving the economy from entrenched deflation is a weaker renminbi, it is a price worth paying," said economist Shang-Jin Wei.
Calgary mortgage broker Max Singh says it's like running full tilt, but getting nowhere. A financial morass where you can't get break free."You're not moving forward with your financial picture," said Singh.Singh, who's been in the financial services sector for 20 years and a mortgage broker in Calgary for the past nine, says he's seeing more clients accept longer amortization periods to lower their borrowing costs.Thirty-year terms, even 35.
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