K-W Real Estate Market Update

The Kitchener-Waterloo real estate market is constantly changing, so please reach out for detailed stats that are specific to your neighbourhood, or even if you’re just curious about what the house down the street sold for. It’d be great to hear from you!

Waterloo’s wildly successful street performers festival is back!

Waterloo’s wildly successful street performers festival is back!

Mark your calendar, as the Waterloo Busker Carnival is heading back to town with a variety of entertaining shows that the whole family will enjoy!

Performers from around the world will amaze people of all ages. The action-packed entertainment includes comedians, fire breathers, contortionists, musicians, acrobats and more!

The Waterloo Busker Carnival takes place between Thursday, August 21st and Sunday, August 24th in Uptown Waterloo between Waterloo Public Square and Waterloo City Hall.

Make sure to come hungry as there’ll be a variety of vendors serving up an assortment of delicious carnival-style food items all weekend long!

There’s something for everyone at the Waterloo Busker Carnival, so bring along your family and friends to enjoy the non-stop entertainment! Hope to see you there :)

Bank of Canada Rate Update

The Bank of Canada continues to maintain its policy rate of 2.75%.

On Wednesday, July 30, 2025, the Bank of Canada held its target for the overnight lending rate at 2.75%, marking the third consecutive decision to hold rates steady.

The Bank reiterated that U.S. trade policy remains unpredictable, with new trade actions still being threatened as we approach the looming August 1 deadline for trade negotiations between Canada and the U.S.

The Bank estimated that Canada’s second quarter Gross Domestic Product (GDP) likely contracted by 1.5% due to a reduction in Canadian exports to the U.S. post-tariff implementation.

The Bank also noted that growth in spending is being weighed down by continued economic uncertainty, and labour market conditions in tariff-affected sectors has weakened.

Consumer Price Index (CPI) inflation rose to 1.9% in June as high shelter prices, particularly for rent, remain the main contributor to overall inflation.

The bank estimates that underlying inflation is around 2.5%, which remains within its target of 1-3%.

The Bank mapped out three scenarios for its Canadian economic forecasts:

Current Tariffs Remain In Place

GDP growth picks up to 1% in the second half of 2025, advances to 2% by 2027.
Exports stabilize and household spending increases gradually.
Total inflation stays close to 2%.

De-escalation of Tariffs

GDP growth rebounds faster.
Lower tariffs reduce upward pressure on inflation.

Escalation of Tariffs

GDP continues to decline through the remainder of 2025.
Higher tariffs increase upward pressure on inflation.

Given high levels of uncertainty, the Governing Council opted to hold rates steady.

The Bank continues to assess the evolution of downward pressures on inflation from a weaker economy against upward pressures on inflation from higher costs related to tariffs.

In its closing notes, the Bank stated that its focus would remain on price stability for Canadians, paying particular attention to the following risks and uncertainties:

the extent to which higher tariffs reduce demand for Canadian exports;
how much this spills over into business investment, employment and household spending;
how much and how quickly cost increases are passed on to consumer prices; and,
how inflation expectations evolve.

The Bank of Canada will make its next scheduled interest rate announcement on September 17, 2025.

Calculating Closing Costs

The last thing a buyer wants to deal with at closing is an unexpected bill.

House hunting is lots of fun, but once you purchase a home, there are various fees you’ll be responsible for when it comes time to close the deal.

Your mortgage and down payment will cover the cost of your home, but it’s important to proactively factor in any extra fees so you’re not caught off guard. Here are some common closing costs to expect:

Appraisal Fee
The bank will require a home appraisal when arranging a mortgage. The home appraisal cost is usually passed on to the buyer, but it can often be worked into the mortgage.

Mortgage Insurance
If you don’t have a large down payment, you’ll need to pay for mortgage insurance, which varies depending on the size of your down payment and the amount of your mortgage.

Title Insurance
Title insurance ensures clear ownership of the property. Banks often require title insurance to arrange a mortgage, especially when a survey isn’t available.

Legal Fees
Your real estate lawyer is responsible for ensuring that all legal and financial conditions have been met and that there are no outstanding charges or liens against your new home.

Taxes & Adjustments
You’ll be responsible for paying land transfer tax and other monetary adjustments, such as reimbursing the seller for prepaid property taxes or maintenance fees.

The exact amount you’ll pay in closing costs depends on your specific circumstances, but it's usually around 3% of the purchase price.

For a more accurate estimate, along with tips on how to reduce your closing costs, please reach out so we can discuss your options.

Buying a home can be an emotional roller coaster, but you'll enjoy a much smoother ride if you're prepared for what lies ahead!

Calculating Closing Costs

If you work from home, you may as well take care of business in comfort and style!

Whether you’re working at a desk that’s tucked into a closet or you’ve converted the garage into an office, it’s important that your workspace is comfortable and functional.

There are many advantages to working from home, but it also comes with a unique set of challenges. Here are a few tips that’ll help you get the most out of your home office:

Bright Ideas
Choose a spot with indirect natural light to help reduce eye strain from screen glare. Also, consider a SAD lamp to help lift your spirits on those dreary days.

Take a Stand
Consider purchasing an adjustable standing desk to help your posture. If a standing desk isn’t an option, make sure your monitor, keyboard and mouse are at the correct levels.

Background Check
Your background may not say a word during Zoom calls, but it’ll speak to your audience as it’s one of the first things they’ll notice, so make sure it sends the right message.

Sound Off
If you spend a lot of time on conference calls, you may want to think about soundproofing your space. Carpets, rugs and curtains are an easy way to absorb excess noise.

Botanical Boost
Spruce up your space by adding a few plants in and around your office, as they’ll help improve the air quality and increase your general level of happiness.

Make Space
Try to make the most of your office space by hanging shelves on the walls or maximizing the space underneath your desk with hanging organizers or rolling drawer units.

A comfortable home office can make a huge difference to your productivity, so it’s important to take the time to properly set up your space.

On top of that, if you’re thinking of selling your home, a functional home office will likely be high on many home buyers’ wish lists, now that working remotely has become so popular.