The HST will not apply to Toronto resale housing but will add thousands of dollars to new homes purchased after July 1st. A $700,000 home would cost an extra $12,250 and a buyer of a million-dollar home or condo would pay almost $32,250 extra in new taxes

Interest rates have recently rose significantly and more increases are promised July 1st, or sooner.

Refinancing homes and investor bought homes have also been hit  with tightened eligibility rules for mortgages.

If there is a rush for Toronto Real Estate in the coming weeks before higher interest rates and before the HST, how long it will last is anyone's guess.