CREA said typical discounted five-year fixed rates have leaped from about 3% to 4% in a month
Nonetheless, the budget proposal would provide clarity to the Canada Revenue Agency
Annual pace of home price growth ‘will moderate in the coming months’
The federal budget said the government will proceed with a review of “housing as an asset class"
Advisors are still relatively positive about the tax-free first home savings account, despite not being able to use it alongside the Home Buyers’ Plan
Higher taxes offset benefit of efforts to cool housing market
Profits on sale of residential property held for less than 12 months would be taxed as business income
The accounts will have a $40,000 lifetime limit on contributions and an annual contribution limit of $8,000
Rebates remain for new permanent residents
Monetary and tax policy could present risks to the housing market, however