April 28, 2022 | CREB

For most of us, buying a home will be the biggest purchasing decision we make in our lifetime. Adding to the weight of that decision is going through it the first time.

First-time homebuyers can benefit tremendously from receiving extra advice throughout the purchase process. It's difficult to know exactly what to expect, but most issues can be resolved by doing a little homework at the outset.

The good news is first-time homebuyers are not on their own. Here are five tips to help you navigate the journey:

1. Do your research

Ask questions and do your homework. Speak with other homeowners to get a real-life perspective on what it's like to own property. Also take some time to think about where you want to be today and five years from now, and plan accordingly!

2. Get pre-approved

It is best for first-time buyers to get pre-approved for a mortgage so they know how much they can spend.

Talk to a mortgage specialist about mortgage products, terms, payment options and rates. Then, share the pre-approval with your REALTOR® so they only show you homes that fit your budget.

3. Use a REALTOR®

Many homebuyers research potential homes using realtor.ca, but what's really important is the interpretation of that data, and that's where a REALTOR® comes in.

A REALTOR® is a trusted source for all your real estate needs. Not only do they provide invaluable expertise, but they are also committed to a high standard of professional conduct focused on the consumer.

A REALTOR® also provides a homebuyer with all the information to make an informed decision in terms of comparable prices in the neighbourhood, market conditions and the proper steps to go through in a home purchase.

4. Seeing is believing

While most people begin their home search online, shopping that way may not tell the whole story of a property. Photos can be deceiving, so it's important to get inside a house and explore it for yourself.

Things like the size of a home, the condition of the interior and exterior and the neighborhood can vary when looking at a home online versus in person.

Schedule a showing with your REALTOR® or visit an open house to help you make a much smarter buying decision.

5. Get a home inspection

A home inspection could identify a simple cosmetic problem or safety issue that could be potentially life threatening.

Many first-time buyers walk into a home, love the kitchen or the bathrooms or the general layout, and can look right past everything else. That's why you need an unbiased, independent review of the home.

Your home inspector should not care whether you buy the home or not. They have no vested interest in the transaction and present you with the facts.

Even a small space can have a big personality when you make the right moves with color, pattern, and furniture. By Amy Panos and Paige Porter Fischer

Published in Better Homes & Gardens 

Published on March 15, 2025

Think living in a small space means you have to limit patterns and accessories for fear of your home looking cluttered? Think again. Take a look at this tiny South Carolina bungalow and see how eclectic art, plenty of patterns, and a consistent color palette amp up how large it lives and its charming looks.

"I had to be very thoughtful about each space—how to incorporate everything I love without overwhelming the eye in a much smaller house," says homeowner Teresa Roche, who is also an artist, gallery owner, and textile designer. The way she layered art, pattern, and personality into every inch of her home proves that maximalism isn’t off limits even in limited square footage.

Here are 9 small-space decorating lessons from this creative pro.

01of 09

Set a Color Palette for the Whole House

Brie Williams / Interior Design: Teresa Roche

In a small space, sticking with one neutral wall color throughout all the rooms isn't boring, it's strategic. In this house, painting all the walls creamy white (Sherwin-Williams Alabaster) creates a visual flow and sets up a background that allows artwork and patterns to really shine.

Repeating the same accent colors through multiple rooms is another winning strategy in a small space. Roche used a palette of ochers, earthy browns, herbal greens, and warm yellows across every room in her house. In the living room, the palette shows up in upholstered furniture and pillows as well as artwork and the curtains in the adjacent foyer. "The repetition creates an easy flow from one space to the next,” Roche says.

02of 09

Make Artwork Blend

Brie Williams / Interior Design: Teresa Roche

A gallery wall makes an instant and impactful focal point. In a small space, it's important that individual art pieces flow together visually and read as cohesive. For her dining alcove, Roche hung favorite pieces from airplane wire, which she attached to a picture rail. The continuity comes from the colors in the artwork and the types of frames. “I love mixing frames of all shapes and sizes, but I stick to subtle materials—white, wood, nickel-brushed silver, and brushed gold—and stay away from black frames because they often overpower the pieces themselves.” The subtle flow from frame to frame keeps the installation from overwhelming the eye.

The 48 Best Picture Frames Our Editors Love

03of 09

Use Patterns That Act Like Neutrals

Brie Williams / Interior Design: Teresa Roche

In an open floor plan, be mindful when choosing patterns that will be used prominently. For this kitchen, which is open to the dining and living areas, Roche used an abstract basketweave wallpaper pattern that she considers neutral. (Notice the pattern and color repeat on throw pillows in the adjacent living room.)

"My patterns aren't crazy patterns—they are classic ones," she says. "My basketweave pattern was bold enough to make an impression but not too overwhelming for the art I wanted to pair with it,” she says. Other patterns that can act as neutrals include abstract, irregular stripes and plaids. They give a room structure but also fade into the background because of their regular, almost-geometric patterns.

04of 09

Repeat the Same Pattern

Brie Williams / Interior Design: Teresa Roche

Using the same pattern in both wallpaper and fabric is a longstanding decorator trick for creating a space that looks put together but not overly busy. Roche used the approach in her foyer, hanging wallpaper and doorway curtains in the same painterly stripe. It's a bold pattern, but because of the white background and the way it's repeated over so much surface area, the eye registers it as background.

05of 09

Keep Window Treatments Simple

Brie Williams / Interior Design: Teresa Roche

Heavy, elaborate window treatments can make a small room feel claustrophobic. If you can forgo them altogether, do. In this sitting room, the windows are deliberately bare to let in maximum light and views, plus their white trim blends with the wall color to make the space look larger. If you need the privacy or light control that window treatments bring, choose something simple, such as woven Roman shades or simple white curtain panels, and repeat them throughout the house.

7 Window Treatment Mistakes You Might Be Making

06of 09

Establish a Furniture Palette

Brie Williams / Interior Design: Teresa Roche

Just like a consistent color palette can make a small space look larger and more well-designed, so too can editing your furniture choices. For example, all of the furniture in Roche's home shares either similar simple shapes or wood tones, or both. In this house, that means lots of midcentury modern, antique pine pieces, and Danish modern furniture, like this low-slung sofa and chairs, which are so versatile that Roche has reupholstered them three times over the years.

"I never hesitate to mix furniture from various time periods," she says. "I buy what speaks to me." When your furniture is cohesive, it's also easier to move pieces around from room to room when you're ready for a change.

8 Tips for Decorating with Wood Furniture to Avoid a Dated Look

07of 09

Think Small Scale

Brie Williams / Interior Design: Teresa Roche

For furniture you only use occasionally, choose a small size that still gives you functionality. For example, using a petite antique pine table, rather than a traditional desk, made it possible to sneak a workstation into the corner of a sunroom.

08of 09

Maximize Outdoor Space

Brie Williams / Interior Design: Teresa Roche

Because the front porch gets used as an outdoor living room when the weather cooperates, it should be furnished as comfortably as the indoor version. That means ample seating and lighting, which here is accomplished via a simple woven shade. Outdoor chairs in versatile white blend with the house color and railings to make a crisp, uncluttered backdrop for patterned throw pillows.

09of 09

Draw the Eye Up with Art

Brie Williams / Interior Design: Teresa Roche

Even the stairwell can contribute to a light, bright, and airy feel in a small house when it's treated to a refreshing white paint job on walls, trim, and the stairs themselves.

Another trick is to hang artwork at the top of the stairs to draw the eyes up and through the space. In her stairway, Roche hung a series of four paintings vertically to emphasize the height of the ceilings. “For stairwells, the negative space becomes as important as the art to me,” she says. “I don’t like cluttered stairwells, so I don’t want to see painting after painting."

Styled by Jennifer DeCleene

FOR IMMEDIATE RELEASE

Media Relations

Ottawa, Ontario

March 12, 2025

The Bank of Canada today reduced its target for the overnight rate to 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%.

The Canadian economy entered 2025 in a solid position, with inflation close to the 2% target and robust GDP growth. However, heightened trade tensions and tariffs imposed by the United States will likely slow the pace of economic activity and increase inflationary pressures in Canada. The economic outlook continues to be subject to more-than-usual uncertainty because of the rapidly evolving policy landscape.

After a period of solid growth, the US economy looks to have slowed in recent months. US inflation remains slightly above target. Economic growth in the euro zone was modest in late 2024. China’s economy has posted strong gains, supported by government policies. Equity prices have fallen and bond yields have eased on market expectations of weaker North American growth. Oil prices have been volatile and are trading below the assumptions in the Bank’s January Monetary Policy Report (MPR). The Canadian dollar is broadly unchanged against the US dollar but weaker against other currencies.

Canada’s economy grew by 2.6% in the fourth quarter of 2024 following upwardly revised growth of 2.2% in the third quarter. This growth path is stronger than was expected at the time of the January MPR. Past cuts to interest rates have boosted economic activity, particularly consumption and housing. However, economic growth in the first quarter of 2025 will likely slow as the intensifying trade conflict weighs on sentiment and activity. Recent surveys suggest a sharp drop in consumer confidence and a slowdown in business spending as companies postpone or cancel investments. The negative impact of slowing domestic demand has been partially offset by a surge in exports in advance of tariffs being imposed. 

Employment growth strengthened in November through January and the unemployment rate declined to 6.6%. In February, job growth stalled. While past interest rate cuts have boosted demand for labour in recent months, there are warning signs that heightened trade tensions could disrupt the recovery in the jobs market. Meanwhile, wage growth has shown signs of moderation.

Inflation remains close to the 2% target. The temporary suspension of the GST/HST lowered some consumer prices, but January’s CPI was slightly firmer than expected at 1.9%. Inflation is expected to increase to about 2½% in March with the end of the tax break. The Bank’s preferred measures of core inflation remain above 2%, mainly because of the persistence of shelter price inflation. Short-term inflation expectations have risen in light of fears about the impact of tariffs on prices.

While economic growth has come in stronger than expected, the pervasive uncertainty created by continuously changing US tariff threats is restraining consumers’ spending intentions and businesses’ plans to hire and invest. Against this background, and with inflation close to the 2% target, Governing Council decided to reduce the policy rate by a further 25 basis points.

Monetary policy cannot offset the impacts of a trade war. What it can and must do is ensure that higher prices do not lead to ongoing inflation. Governing Council will be carefully assessing the timing and strength of both the downward pressures on inflation from a weaker economy and the upward pressures on inflation from higher costs. The Council will also be closely monitoring inflation expectations. The Bank is committed to maintaining price stability for Canadians.

Information note

The next scheduled date for announcing the overnight rate target is April 16, 2025. The Bank will publish its next full outlook for the economy and inflation, including risks to the projection, in the MPR at the same time.

A home inspection is a crucial step in the buying process—it helps protect your investment! Here’s why it matters:

✔️ Uncover Hidden Issues – Identifies potential problems like structural concerns, electrical issues, or plumbing leaks.
✔️ Negotiation Power – Gives buyers leverage to request repairs or adjust the price.
✔️ Safety & Peace of Mind – Ensures the home is safe and meets building standards.
✔️ Future Planning – Helps you anticipate maintenance and future costs.

🔍 What Does a Home Inspector Do? 🏡

A home inspector provides a detailed evaluation of a property's condition, helping buyers make informed decisions. Here's what they check:

✔️ Structure – Foundation, walls, roof, and attic for any signs of damage.
✔️ Electrical Systems – Outlets, wiring, and breaker panels for safety.
✔️ Plumbing – Pipes, water heaters, and potential leaks.
✔️ HVAC – Heating, ventilation, and air conditioning functionality.
✔️ Exterior & Interior – Windows, doors, insulation, and more!

🔍 Home Inspections Are Visual Only – What Does That Mean? 🏡

A home inspection is a non-invasive, visual examination of a property's condition. Inspectors don’t open walls, move furniture, or perform destructive testing—they assess what’s visible and accessible.

A home inspection provides valuable insight, but for deeper concerns, specialized inspections (like mold, sewer, or asbestos) may be needed.

A home inspection can save you from costly surprises! Thinking of buying? Make sure you get an inspection!

A home is a big investment—make sure you know what you’re buying!

🏡💡 Need an inspector recommendation?

Call or text 403-660-0102 or email shelleyannecorley@gmail.com

When purchasing a condo versus a freehold property, there are key differences in ownership, costs, responsibilities, and lifestyle considerations. Here’s a breakdown:

1. Ownership Structure

• Condo: You own your individual unit but share ownership of common areas (hallways, amenities, landscaping, etc.) with other condo owners. A condo board manages these shared spaces.

• Freehold: You own both the home and the land it sits on, giving you full control over the property.

2. Costs & Fees

• Condo: Typically has a lower purchase price compared to freehold homes but includes monthly condo fees for maintenance, repairs, and amenities. Special assessments may be levied for unexpected expenses.

• Freehold: No condo fees, but homeowners are responsible for all maintenance, repairs, and property expenses.

3. Maintenance & Responsibilities

• Condo: The condo board/management handles exterior maintenance, landscaping, snow removal, and repairs for shared spaces, making it a lower-maintenance option.

• Freehold: Homeowners must manage and pay for all upkeep, including lawn care, roof repairs, and structural maintenance.

4. Rules & Restrictions

• Condo: Subject to condo board rules and bylaws, which may restrict renovations, rentals (Airbnb), pet ownership, and noise levels.

• Freehold: No governing board—homeowners have full control over renovations, landscaping, and renting out the property.

5. Appreciation & Resale Value

• Condo: Appreciation can be slower due to shared ownership, condo fees, and reliance on board management. However, well-maintained buildings in prime locations can still see strong value growth.

• Freehold: Typically appreciates faster as land value increases over time. More desirable to buyers due to independence and lack of monthly fees.

6. Financing & Insurance

• Condo: Easier to finance due to lower price points, but lenders may consider condo corporation financials. Condo insurance only covers the unit’s interior, while the condo corporation insures the building’s exterior.

• Freehold: Higher mortgage amounts may be required, but you have full control over property financing. Homeowners must insure the entire property.

7. Lifestyle Considerations

• Condo: Ideal for those seeking a low-maintenance lifestyle, access to amenities (gym, pool, concierge), and urban living. Best for busy professionals, retirees, or those who travel often.

• Freehold: Better suited for families, those needing space (yard, garage, storage), and individuals who enjoy personalizing their home and outdoor areas.

Which One is Right for You?

• Choose a Condo If: You want convenience, lower maintenance, and urban living with amenities.

• Choose a Freehold Property If: You prefer independence, long-term appreciation, and full control over your home.

Feb. 07, 2025 | CREB

Whether you’re a winter walker, snowboarder, or simply want to enjoy this season without too much hassle, Calgary offers activities for all winter enthusiasts.

Grab your hot chocolate and toque, because we have some great ideas for activities you can tackle in all the city quadrants. 

Crokicurl  

As Canada’s new winter pastime, Crokicurl is an exciting novel outdoor sport that combines crokinole and curling, two of Canada’s favourite winter activities. 

The objective of the game is to score the most points by shooting a small curling rock into the centre button (20 points), and trying to position the rocks to stay within the highest scoring circle at the end of each round (red circle = 15 points, white circle = 10 points, blue circle = 5 points).  

The only equipment needed is the curling stones, which are provided at the site of the Crokicurl rinks in the hours noted below: 

• Bowness Park, 8900 48 Ave NW, open from 10 a.m. to 7 p.m. 

• North Glenmore Park, 7305 Crowchild Trail SW, open from 11 am. To 8:30 p.m. 

• Prince’s Island Park, 698 Eau Claire Ave SW, open from 9 a.m. to 6 p.m. 

Cross-country skiing and snowshoeing 

Don’t have time for a trip to the mountains? No problem! Calgary has mesmerizing snow-covered landscapes you can enjoy while staying active all winter long. 

Cross-country skiing and snowshoeing can be done in almost any park, but there are several dedicated cross-country skiing tracks and snowshoe areas available in Calgary at no cost that are maintained by Calgary Parks and volunteers. Here are some trails you can check out: 

• Confederation Golf Course, 3204 Collingwood Dr NW  

• Lakeview Golf Course, 5840 19 Street SW 

• McCall Lake Golf Course, 1600 32 Avenue NE 

• Maple Ridge Golf Course, 1240 Mapleglade Dr SE  

• Prince’s Island Park, 4 Street and 1 Avenue SW (Downtown) 

Discover more trails in the city by clicking here.

Ice Skating  

Whether you’re a pro or a beginner, our city has numerous ice skating trails and rinks that make for a perfect winter outing. You just have to show up! Bring your ice skates, helmets, and if necessary, your skating aid, and enjoy the season!  

• Barb Scott Park, 12 Ave and 9 St SW.  

• Prairie Winds Park, 223 Castleridge Blvd NE 

• Prestwick Rink, 15113 Prestwick Blvd SE  

• West Confederation Park, 2019 Chicoutimi Dr NW 

For a complete list of Calgary’s skating rinks and their status, click here. 

Looking to go beyond the rink? Bowness Park has a 1.6 km track for skating next to the Bow River, and is open from 10 a.m. to 11 p.m. Meanwhile, North Glenmore Park has 730 metres of connected track and is open from 11 a.m. to 10 p.m.

Tobogganing and sledding  

Bring joy to your little ones with a day of tobogganing and sledding at the various hills of our wonderful city. Many of these hills are safe and exciting, but please know that they are also weather dependent. Here are a few recommendations: 

• Thorncliffe/Greenview, 5600 Centre St. NE 

• Royal Oak, 9100 Royal Birch Blvd NW 

• New Brighton, 1750 New Brighton Dr SE 

• Stanley Park, 330 42 Ave SW  

Source: City of Calgary Parks.

Closing costs are the fees and expenses that must be paid when a transaction is finalized. They encompass a wide range of charges depending on which side of the transaction you are on. Some of these costs will be incurred by either the buyer, the seller, or both parties, or in the case of a refinance, by the home owner. Typically, closing costs can range from 1.5% to 3% of the purchase price of a home for buyers, depending on the specifics of the transaction and location within Canada, and for a refinance it can be as little as a couple thousand dollars, which you may be able to add to the balance of your loan so you have no out of pocket expenses.

Common closing costs when buying a home

• Land transfer tax: This tax varies by province and municipality. It is calculated based on the purchase price of the property. 
  Potential cost: a few hundred to thousands of dollars.

• Legal fees: These cover the services of a real estate lawyer or notary who will handle the legal aspects of the transaction. These fees may include title searches, title registration, and the preparation of necessary documents.  These costs in Alberta recently increased in October 2024.
  Potential cost: $2,000to $3,500 or more

• Title insurance: This one-time cost protects against potential issues with the property’s title, such as disputes over ownership. Typically required by lenders for their protection at your cost, homeowners can get an add on to protect themselves as well. 
  Potential cost: $150 to $500 or more

• Property appraisal: Conventional or lower loan-to-value mortgages may require an appraisal to determine the fair market value. 
  Potential cost: $300 to $600 or more

• Home inspection: Although optional, a home inspection is highly recommended to identify any potential issues with the property. 
  Potential cost: $500 to $800 or more

• Property tax adjustments: Depending on when your home purchase closes, you may need to reimburse the seller for any property taxes already paid. Alternatively, you may receive a credit from the seller for any property taxes that have not been paid for the year.  

• Mortgage default insurance: If your down payment is less than 20% of the purchase price, you’ll need mortgage default insurance. This can cost between 2.8% and 4.3% of the mortgage amount. This insurance can be added to your mortgage balance. Ontario, Quebec and Saskatchewan also charge provincial sales tax on this insurance, which must be paid at closing.

Common closing costs when selling a home

• Real estate commissions: The seller typically pays the commission for both the buyer’s and seller’s Realtor, usually between 3% and 5% of the sale price plus any applicable taxes, such as GST/HST.

• Legal fees: These cover the services of a real estate lawyer or notary who will verify the legal ownership of the property and clear any liens or charges against the title. 
  Potential cost: $1,000 to $3,000 or more

• Mortgage discharge fees: Charged by your lender to close out your mortgage. 
  Potential cost: $200 to $500

• Mortgage pre-payment charges: Depending on when your mortgage term is up, you may incur pre-payment penalties. 
  Potential cost: 3-months’ interest or the Interest Rate Differential (IRD)

• Repairs and maintenance: Any agreed-upon repairs or maintenance to be completed before the sale.

Closing costs when refinancing a home

• Appraisal fees: The lender will require an appraisal to determine the fair market value. 
  Potential cost: $300 to $600 or more

• Legal fees: These cover the services of a real estate lawyer or notary who will verify the legal ownership of the property and register the new mortgage. 
  Potential cost: $1,000 to $3,000 or more

• Mortgage discharge fees: Charged by the current lender to close out the existing mortgage. 
  Potential cost: $200 to $500

• Title insurance: This may be required  by your new lender  to protect against title-related issues during refinancing. 
  Potential cost: $150 to $500 or more

• Mortgage pre-payment charges: If breaking the existing mortgage term, you may be charged pre-payment penalties of three months’ interest or the Interest Rate Differential (IRD) depending on your original mortgage terms.

Published January 14th, 2025 By MMG Mortgages 

FOR IMMEDIATE RELEASE

Media Relations

Ottawa, Ontario

January 29, 2025

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The Bank of Canada today reduced its target for the overnight rate to 3%, with the Bank Rate at 3.25% and the deposit rate at 2.95%.The Bank is also announcing its plan to complete the normalization of its balance sheet, ending quantitative tightening. The Bank will restart asset purchases in early March, beginning gradually so that its balance sheet stabilizes and then grows modestly, in line with growth in the economy.

Projections in the January Monetary Policy Report (MPR) published today are subject to more-than-usual uncertainty because of the rapidly evolving policy landscape, particularly the threat of trade tariffs by the new administration in the United States. Since the scope and duration of a possible trade conflict are impossible to predict, this MPR provides a baseline forecast in the absence of new tariffs.

In the MPR projection, the global economy is expected to continue growing by about 3% over the next two years. Growth in the United States has been revised up, mainly due to stronger consumption. Growth in the euro area is likely to be subdued as the region copes with competitiveness pressures. In China, recent policy actions are boosting demand and supporting near-term growth, although structural challenges remain. Since October, financial conditions have diverged across countries. US bond yields have risen, supported by strong growth and more persistent inflation. In contrast, yields in Canada are down slightly. The Canadian dollar has depreciated materially against the US dollar, largely reflecting trade uncertainty and broader strength in the US currency. Oil prices have been volatile and in recent weeks have been about $5 higher than was assumed in the October MPR.

In Canada, past cuts to interest rates have started to boost the economy. The recent strengthening in both consumption and housing activity is expected to continue. However, business investment remains weak. The outlook for exports is being supported by new export capacity for oil and gas.

Canada’s labour market remains soft, with the unemployment rate at 6.7% in December. Job growth has strengthened in recent months, after lagging growth in the labour force for more than a year. Wage pressures, which have proven sticky, are showing some signs of easing.

The Bank forecasts GDP growth will strengthen in 2025. However, with slower population growth because of reduced immigration targets, both GDP and potential growth will be more moderate than was expected in October. Following growth of 1.3% in 2024, the Bank now projects GDP will grow by 1.8% in both 2025 and 2026, somewhat higher than potential growth. As a result, excess supply in the economy is gradually absorbed over the projection horizon.

CPI inflation remains close to 2%, with some volatility due to the temporary suspension of the GST/HST on some consumer products. Shelter price inflation is still elevated but it is easing gradually, as expected. A broad range of indicators, including surveys of inflation expectations and the distribution of price changes among components of the CPI, suggests that underlying inflation is close to 2%. The Bank forecasts CPI inflation will be around the 2% target over the next two years.

Setting aside threatened US tariffs, the upside and downside risks around the outlook are reasonably balanced. However, as discussed in the MPR, a protracted trade conflict would most likely lead to weaker GDP and higher prices in Canada.

With inflation around 2% and the economy in excess supply, Governing Council decided to reduce the policy rate a further 25 basis points to 3%. The cumulative reduction in the policy rate since last June is substantial. Lower interest rates are boosting household spending and, in the outlook published today, the economy is expected to strengthen gradually and inflation to stay close to target. However, if broad-based and significant tariffs were imposed, the resilience of Canada’s economy would be tested. We will be following developments closely and assessing the implications for economic activity, inflation and monetary policy in Canada. The Bank is committed to maintaining price stability for Canadians.

Information note

The next scheduled date for announcing the overnight rate target is March 12, 2025. The Bank will publish its next full outlook for the economy and inflation, including risks to the projection, in the MPR on April 16, 2025.

As of January 27, 2025, Canadian mortgage rates vary by term and lender. 

• 2-year fixed: The average rate is 6.53%, but rates can be as low as 4.59%

• 3-year fixed: The average rate is 5.47%, but rates can be as low as 4.34%

• 4-year fixed: The average rate is 5.65%, but rates can be as low as 4.54%

• 5-year fixed: The average rate is 5.02%, but rates can be as low as 4.14%

• 7-year fixed: The average rate is 6.37%, but rates can be as low as 5.94%

• 10-year fixed: The average rate is 7.14%, but rates can be as low as 6.14%

Lenders

• Desjardins: Offers a 4-year fixed rate of 4.24% 

• Radius Financial: Offers a 3-year variable rate of 4.55% and a 5-year variable rate of 4.60% 

• RFA: Offers a 2-year fixed rate of 4.64% 

• Royal Bank of Canada: Offers a 5-year closed rate of 6.390% 

• TD Bank: Offers a 3-year fixed closed special rate of 5.09% 

• True North Mortgage: Offers a 6-month fixed rate of 2.99% 

You can check out these websites for more information on Canadian mortgage rates: nesto.ca, NerdWallet, and RBC Royal Bank. 

Zoning refers to the local government's regulation of land use within a specific area. It involves dividing a municipality or jurisdiction into different zones or districts, each with specific rules and regulations regarding how the land can be utilized. Zoning laws typically dictate the type of activities or developments allowed in a particular zone, such as residential, commercial, industrial, or mixed-use.

The primary purposes of zoning are:

1. Land Use Planning: Zoning helps communities plan and organize their development in a way that promotes orderly growth and protects the overall well-being of the community. It prevents incompatible land uses from being located too close to each other.

2. Property Values: Zoning can impact property values by influencing the character of a neighborhood. Residential areas, for example, are often zoned to preserve a certain quality of life, while commercial areas are designated for business activities.

3. Public Health and Safety: Zoning regulations can address concerns related to public health and safety by setting standards for things like building setbacks, fire codes, and environmental protection.

4. Aesthetic Considerations: Zoning may include regulations on the appearance and design of buildings, ensuring that developments contribute to the overall aesthetic of an area.

5. Infrastructure Planning: Zoning can help in planning for necessary infrastructure such as roads, utilities, and public services by aligning them with the expected development in specific zones.

When purchasing real estate, understanding zoning regulations is crucial for several reasons:

1. Intended Use: Zoning determines what you can and cannot do with a property. Before purchasing, it's essential to know if the property is zoned for your intended use, whether it's residential, commercial, industrial, or mixed-use.

2. Future Development: Zoning regulations provide insights into potential future developments in the area. This information can affect property values and the overall desirability of the location.

3. Compliance and Restrictions: Zoning ordinances come with specific regulations and restrictions. Buyers need to be aware of these rules to ensure compliance with local laws and to avoid legal issues in the future.

4. Property Value Impact: Zoning can influence property values directly and indirectly. Understanding the zoning regulations in an area can help buyers make informed decisions about the long-term value and potential resale value of the property.

In summary, zoning is a critical aspect of real estate that influences the use, development, and value of properties. Prospective buyers should thoroughly research and understand zoning regulations before making a real estate purchase to ensure their plans align with local zoning laws and to make informed investment decisions.

Home trends coming your way this 2025

The past five years have been of immense change. As we adapted to the realities of COVID, and then moved away from them, our homes adapted to our lifestyles. 

Many people now spend more time at home working, studying and exercising.  For this reason, it’s no surprise that the trends for 2025 focus on comfort, ease, and making our spaces truly ours. 

Check what design experts in North America have predicted for home trends in 2025:

1. Sustainability

The rise of climate change concerns has made people reconsider the ways they relate to their environment. 

According to The Home Network, in 2025, there will be a bigger focus on making homes more energy-efficient to not only be kind to the environment, but also save money on utilities, increase home value, and benefit from tax incentives. 

Check out these tips from CREB® on how you can make your home greener. 

Aside from making homes energy-efficient, according to HomeNetwork people are also choosing natural (and even homemade) cleaning products instead of ones with high amounts of chemicals, and are opting to buy furniture made out of sustainable materials such as cork.  

Experts also predict an increase of natural plants in homes – not just for decoration but to truly bring nature into the spaces to help improve air quality and reduce stress.

2. Coziness and Comfort

Comfy and inviting furniture became popular last year, but in 2025, design experts predict it will take the lead through the use of curves: Rounded sofas like the famous “Blob” sofa, chairs and circular coffee and dining tables, as well as accent chairs and oblong mirrors that help create a sense of fluidity and comfort. 

Warm neutral palettes, earthy tones, and organic colours, along with wood elements such as ceiling beams, trim, millwork, wall paneling, and cabinetry are expected to be seen more this year to add warmth.

3. Self-care in Style

COVID made us realize the importance of mental health, self-care and rest. As we move forward, people have prioritized these aspects of health. This includes bathing, which has become more than a duty. It’s now an immersive experience to relax and rejuvenate. 

For this reason, experts predict that people will move towards bathrooms that can be turned into micro-spas with mesmerizing bathtubs, spacious showers, underwater speakers and luxurious bath products. 

Originally designed for large spaces, wet rooms are also expected to be popular as homeowners include separate showers and tubs in them for more comfort.

4. Boldness and Vibrancy

This year, maximalism is coming back. Houzz senior editor Michelle Parker told Forbes Magazine that designers are getting more and more requests to include layers of bold colours, patterns and textures. Examples are grooved walls and ceiling panelling in bold colours, as well as patterned furniture, rugs and pillows. 

Lively colours like magenta and tangerine carefully mixed and matched with contrasting textures (rough, smooth, soft, hard) seek to add vibrancy and energy to spaces in 2025. 

5. Embracing Outdoor Spaces

Owners of single-family homes with backyards and front porches found solace in these spaces during the pandemic to escape cabin fever.

While we live in a post-COVID era, the love of homeowners for their outdoor havens has stayed. So much so that Forbes Magazine reported that going into 2025, homeowners with backyards will focus on creating memorable outdoor entertaining spaces to welcome guests. 

According to Michelle Parker, homeowners are embracing outdoor cooking methods that go beyond the classic BBQ and are choosing to install pizza ovens, smokers, ceramic kamado-style barbecues and Argentinian-style gaucho grills that use wood or charcoal. 

In addition to the culinary aspect, more people are also focused on adding more features to their space, such as outdoor showers, waterproof sound systems and freestanding home offices.

Sources:

• Home Network 

• Martha Stewart

• Forbes