From the founders: your July number is out of date

In July, Toronto's real estate board said prices might level off through the second half of the year. Last week it said tighter supply could bring renewed price growth instead. The second view arrived one report after the first.

If someone gave you a number for your home earlier this year, it came from the first view. That number is out of date now, and no one is likely to call and tell you so. Most people don't read the monthly market reports, and there's no reason they should.

Ask for a fresh number before you decide anything. Ask what has changed since the last one, too, because prices are still below where they were a year ago and that belongs in the picture alongside the change in direction.

Our job is to make sure you have the current number before you decide.

The library: worth a read

All three are on the Ownright blog, and each covers something that is far easier to sort out now than on closing day.

Matrimonial home in Ontario: consent to sell or refinance. If you're married, your spouse has to agree before the family home is sold or refinanced, even if only one of you is listed as an owner. A cottage you use regularly can count as a family home too.

Joint tenancy vs tenancy in common in Ontario. Adding a parent who already owns a home as a co-owner can shrink the first-time buyer land transfer tax rebate. Splitting ownership into separate defined shares instead can protect the rebate on the child's share.

Capital gains tax when you sell a rental property in Ontario. A rental doesn't get the tax exemption that covers the home you live in, so half the gain is added to your income for that year. Any depreciation you claimed along the way can also be added back. Both are worth knowing before you set a price.

Hot off the press: Joel on the rate hold

Two outlets asked Joel about the Bank of Canada's September decision:

Western Standard - What the Bank of Canada's rate hold means for housing and mortgages: Joel on what a seventh straight hold does and does not change for anyone carrying a mortgage.

Canadian Mortgage Professional - Canada sheds 42,000 jobs as tariff toll tests BoC resolve: Joel said that if inflation keeps easing while the economy stays weak, a rate cut later this year is possible.

Market snapshot: the typical home price holds, borrowing costs creep up

Our take: The thing that actually changed this month sits on the borrowing side rather than the supply side. The Bank of Canada held its rate for a seventh time, but it noted that financial conditions have tightened and that long-term bond yields have moved up, and those yields feed into fixed mortgage rates. Toronto's real estate board points to worry about future borrowing costs as the main thing keeping buyers on the sidelines.

Client spotlight: in their words

The Ownright advantage

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