GENERAL

Ontario passes new act regulating real estate services

At the Ontario Real Estate Association’s REALiTY Conference last week  OREA president Sean Morrison announced that the Ontario Government has passed the Trust in Real Estate Service Act, 2019 (TRESA). “This is a huge win for our Realtor members, their clients and hardworking Ontarians across the province,” said Morrison. OREA has been advocating for a

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Changes to the mortgage stress test

Earlier today, Minister of Finance Bill Morneau announced changes to the mortgage stress test. The new benchmark rate used to determine the minimum qualifying rate for insured mortgages, coming into effect on April 6, 2020, will be the weekly median 5-year fixed insured mortgage rate from mortgage insurance applications, plus 2 per cent. Recently, the

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