Ontario Government announces key changes to Real Estate & Business Broker Act effective next year New rules aim to increase consumer confidence and protection RECO is pleased to announce that the provincial government is making important changes to the law that governs real estate registrants (agents and brokerages) in Ontario. The changes will strengthen consumer protection and raise consumer...

The Bank of Canada has announced a 0.5% increase to its benchmark interest rate, a move that signals the central bank’s largest single rate hike for over two decades. The decision, revealed at the Bank’s third scheduled interest rate announcement of the year, marks the second consecutive hike to its trendsetting rate after March’s quarter-point increase, and means the policy rate now sits at...

TRREB ENCOURAGED BY FEDERAL BUDGET ACTIONS TO INCREASE SUPPLY OF HOUSING The Toronto Regional Real Estate Board (TRREB) is applauding the federal government for making housing affordability a priority of the 2022 Federal Budget but is questioning the need and effectiveness of some of the announced actions. Specifically, TRREB is encouraged that the budget includes initiatives intended to increase the...

  The Bank of Canada raised its policy interest rate Wednesday, pushing up borrowing costs for the first time since 2018 and kicking off a much-anticipated rate hike cycle despite heightened economic uncertainty caused by Russia’s invasion of Ukraine. The central bank’s governing council voted to increase the key overnight interest rate to 0.5 per cent from 0.25 per cent – the first step...

Yesterday, Minister Steve Clark and the Ontario Government released the much-anticipated report from the Housing Affordability Task Force. The report highlighted that Ontario needs to build 1.5 million homes to meet demand and address the affordability crisis. OREA had asked the Province to create this Task Force and we had a direct role in drafting many of the recommendations, with our own CEO, Tim...