For first-time home buyers across Ontario, good news just hit the market — and it could change your affordability game.

The Ontario government has announced a plan to remove the full 8% provincial portion of the HST on newly built homes priced up to $1 million.

That’s up to $80,000 in savings — money that can make a serious difference in your down payment, monthly payments, or even just breathing room once you move in.

And if your dream home is a bit above that mark, the rebate will phase out between $1 million and $1.5 million, potentially saving you up to $24,000 more.

💡 Here’s Why It Matters

With mortgage rates where they are today, affordability has been the number one challenge for first-time buyers. This rebate doesn’t just help you qualify — it helps you compete.

Think of it as a boost that can turn “We love it, but it’s just out of reach” into “Let’s make an offer.”

It could mean qualifying for a slightly higher mortgage, reducing your upfront closing costs, or easing the financial stretch of a new build.

🏗️ New Builds Just Got a Whole Lot More Attractive

Between the new rebate and existing federal programs like the First-Time Home Buyer Incentive and Tax-Free First Home Savings Account (FHSA), newly built homes suddenly look like a much smarter path for those entering the market.

Add in the province’s new Fighting Delays, Building Faster Act (Bill 60), which aims to cut red tape and speed up construction, and you’ve got a recipe for more options — and less stress.

🏠 Let’s Talk Real Numbers

If you’re eyeing a $900,000 new build, this rebate could put $72,000–$80,000 right back in your pocket. That’s enough to cover:

• Your legal and closing costs ✅

• Part of your down payment ✅

• New furniture and move-in expenses ✅

And because this change impacts provincial HST, it stacks on top of federal rebates and incentives, giving you the best of both worlds.

🤝 Making It All Work Together

Between mortgage programs, rebates, and tax credits, there’s a lot of moving pieces — and that’s where working with both a REALTOR® and a Mortgage Agent (that’s me!) can make all the difference.

Together, we can:

• Run the numbers on your new affordability range

• Explore your best mortgage options

• Lock in competitive rates

• And get you prepped for a smooth, confident move

Homeownership is still possible — especially when you’ve got the right team in your corner.

✨ Charlotte Ferguson, Mortgage Agent Level 2
Dominion Lending Centres National Ltd. | Lic. #12360
📱 519-575-1804 | 💻 www.mortgagewithchar.com

✨ Charlotte Ferguson, REALTOR® | BeHomeWithCharly
Coldwell Banker Peter Benninger Realty | Magnolia Group Realty
📱 519-575-1804 | 🌐

Navigating Canada’s Mortgage Environment: Key Trends and What They Mean for You

The Canadian mortgage market continues to evolve under pressure from changing interest rates, tightening housing supply, and shifting borrower behavior. For prospective homebuyers, current owners considering refinancing, or those just keeping an eye on the market, understanding these developments is crucial.

1. Interest Rate Pressures Persist
   Mortgage rates remain a big factor. Even where there’s talk of easing from the Bank of Canada, lenders may be cautious. Borrowers are keeping a close eye on rate trends, especially as they plan for long-term affordability.

2. Supply Constraints Fuel Competition
   In many regions, home supply remains tight. That scarcity is driving up home prices, making it more challenging for buyers—especially first-timers—to find affordable options. New construction is part of the solution, but it often takes time for new housing stock to come on stream.

3. Buyer Behavior Adjusts
   Homebuyers are getting more cautious. Many are stretching search areas, recalculating budgets, or waiting out the market to see if conditions improve. Fixed vs. variable rate choices are being weighed more carefully given economic uncertainty.

4. Refinancing and Mortgage Strategy Are Key
   For current homeowners, refinancing or restructuring existing mortgages is a topic of interest—particularly for those who locked in higher rates and are looking for ways to lower payments. Mortgage advisors are emphasizing personalized strategies: looking at amortization changes, payment schedules, or switching product types.

5. Policy & Regulatory Impacts
   Government and regulatory policies continue to influence the landscape. Measures related to zoning, permitting, and incentives for affordable housing can either ease or exacerbate supply issues. Meanwhile, mortgage rules (e.g., stress tests, down payment requirements) shape what borrowers can do.

What This Means for You

• If you’re buying, get clear on what you can afford after factoring in all costs—closing, taxes, insurance, maintenance.

• If rates drop, it might be worth having a plan for how to take advantage (e.g. refinance).

• If you own already, review your mortgage term and type to see if better options exist.

• Stay informed about policy changes in your area—sometimes even small regulatory shifts can open up opportunities.

Conclusion
Canada’s mortgage market isn’t in a static place—it’s in flux. With the right information and advice, both buyers and existing homeowners can find ways to make good decisions. It pays to stay informed, flexible, and proactive.

Canada’s mortgage and housing markets are facing a pivotal moment as multiple forces converge: limited housing supply, affordability concerns, and shifting demand dynamics.

On one hand, affordability challenges are mounting. Rising borrowing costs in recent years left many households stretched, and while some relief may come with potential Bank of Canada rate cuts, affordability remains a barrier for many buyers—especially first-timers.

At the same time, tight supply continues to keep competition high. Canada’s housing shortage, particularly in urban centres, means even small shifts in interest rates can have outsized impacts on buyer demand and pricing. Industry experts stress that increasing supply—through new builds and policy support—will be critical to easing long-term affordability pressures.

Mortgage professionals are also seeing more clients weighing options carefully, from fixed vs. variable products to extended amortizations. Brokers emphasize that now, more than ever, tailored advice is essential to help borrowers navigate market uncertainty.

Looking ahead, the market’s balance between supply, affordability, and demand will determine how resilient Canada’s housing sector remains in the face of economic pressures.

👉 Whether you’re buying, refinancing, or just exploring options, expert guidance can help you make the right move in today’s market.