{"id":4070,"date":"2016-11-23T10:10:52","date_gmt":"2016-11-23T18:10:52","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=4070"},"modified":"2016-11-22T17:56:28","modified_gmt":"2016-11-23T01:56:28","slug":"have-your-investment-plans-for-2017-changed","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/11\/have-your-investment-plans-for-2017-changed\/","title":{"rendered":"Have Your Investment Plans for 2017 Changed?"},"content":{"rendered":"<p style=\"text-align: justify;\">The housing market is due for some volatility due to some recent policy and political changes. Have your investment plans for 2017 changed at all?<\/p>\n<p style=\"text-align: justify;\">It\u2019s sure been a whirlwind couple months of the housing industry. Let\u2019s take a look at what has had an impact on markets recently.<\/p>\n<p style=\"text-align: justify;\"><strong>Vancouver\u2019s 15% sales tax<\/strong><br \/>\nImplemented in August, the province announced a tax on foreign buyers in a bid to protect the country\u2019s hottest housing market. The result has been a drops in both sales and value.<\/p>\n<p style=\"text-align: justify;\"><strong>Department of Finance mortgage changes<\/strong><br \/>\nOn October 3, the Department of Finance announced sweeping mortgage changes that included a mortgage rate stress test for all insured mortgages. Another major change, which is expected to have an impact on investors, is that all portfolio insured mortgages for single unit properties must be owner-occupied.<\/p>\n<p style=\"text-align: justify;\"><strong>First-time homebuyer tax break<\/strong><br \/>\nAspiring buyers in Ontario were given a break in the form of a larger rebate on land-transfer taxes. The province doubled the eligible amount to $4,000 \u2013 making it slightly easier for long-time renters to finally take the ownership plunge.<\/p>\n<p style=\"text-align: justify;\"><strong>Lenders raise their rates<\/strong><br \/>\nEarlier this month TD announced it was hiking its mortgage prime rate to 2.8%.<\/p>\n<p style=\"text-align: justify;\">RBC followed suit Tuesday by announcing it was raising its special offer for a 5-year fixed rate mortgage to 2.94%, an increase of 30 basis points.<\/p>\n<p style=\"text-align: justify;\">The lender also said it&#8217;s raising its special offer for a four-year fixed rate mortgage to 2.79% and 3-year fixed rate mortgage to 2.69%, increases of 30 and 25 basis points, respectively.<\/p>\n<p><a href=\"http:\/\/www.canadianrealestatemagazine.ca\/news\/poll-have-your-investment-plans-changed-217376.aspx\" target=\"_blank\">Have Your Investment Plans Changed?<\/a> by Justin da Rosa | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The housing market is due for some volatility due to some recent policy and political changes. Have your investment plans for 2017 changed at all? It\u2019s sure been a whirlwind &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/11\/have-your-investment-plans-for-2017-changed\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-4070","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Have Your Investment Plans for 2017 Changed? &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2016\/11\/have-your-investment-plans-for-2017-changed\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Have Your Investment Plans for 2017 Changed? &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"The housing market is due for some volatility due to some recent policy and political changes. 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