Vancouver-based Central 1 Credit Union is among those forecasting that the “exceptionally strong” 2020 housing market in B.C. will continue to surge, with average prices rising 5.6% in 2021 and … [read more]
As first-time homebuyers begin the tedious, complicated journey into homeownership, many find themselves overwhelmed and defeated by long to-do lists. Finding a home within a limited budget, scrounging for down … [read more]
Record-low mortgage rates are one of the major drivers of the huge rebound in home sales Canada has experienced since early summer. And, with the country’s central bank committing to … [read more]
Pre-qualifying for a mortgage is often the first step towards owning a home. If you’ve never done this before, though, you might not know where to start. Here’s some information … [read more]
Tips For Getting Preapproved for A Mortgage If you start looking for your new home before you know how much you can afford to spend, you will be in for … [read more]
Looking to buy a house in Canada? Before applying for a mortgage pre-approval, you should check your credit score in order to ensure you can be approved for a mortgage … [read more]
Investors must be chomping at the bit to scoop up downtown resale condos in what’s become a buyer’s market with historically low interest rates, but what kind of mortgage makes … [read more]
Today, most homeowners still acquire properties through a mortgage loan. Studies show that over three-quarters of home purchase applications are approved. That leaves around 25% faulty and erroneous ones. The … [read more]
More millennials have been motivated by the COVID-19 pandemic to think about buying a home, but do they have enough money saved to go ahead and buy one? That was … [read more]
The Bank of Canada announced today that it would be keeping its mortgage-market influencing policy rate at the record low 0.25 percent level with no sign that it would increase … [read more]
A reverse mortgage is a loan option that allows seniors 62 years or older to live comfortably in their retirement. Borrowers can cash off their equity and pay for their … [read more]
Record low mortgage rates for homes and multi-family properties will continue for at least two years, according to the Bank of Canada (BOC) as it chopped the qualifying rate for … [read more]
After months of turbulence in the housing market, a new report offers insights on how Canadian homeowners are holding up through the COVID-19 pandemic. Over a quarter of mortgage holders … [read more]
The pandemic has forced most of us to learn to live with a good dose of uncertainty when it comes to our ability to make even short-term plans. But despite … [read more]
If you’ve been dreaming about buying a home, you’ve almost certainly been taking a close look at your finances. If your student debt is an obstacle to your home purchase, … [read more]
The virus has thrown up a lot of financial roadblocks for people that were making serious progress towards buying a home this year. Make no mistake about it, your credit … [read more]
Canadian mortgage rates are in a virtual free fall, dropping to record-setting lows with discount brokers now offering one- to five-year variable rates in the 1.64% to 1.68% range. But … [read more]
On Thursday, June 4 2020, Canada Mortgage and Housing Corporation (CMHC) announced new, tighter mortgage borrowing criteria that will apply to all insurance applications beginning July 1, 2020. CMHC is … [read more]
Canada Mortgage and Housing Corp.(CMHC), the largest insurer of residential mortgages in Canada, has tightened mortgage qualifications in a move expected to slow first-time home buying, and send a chill … [read more]
The Bank of Canada this week announced it’s maintaining its mortgage-market influencing key interest rate at 0.25 percent, a rock bottom level unseen since the peak of the 2008-2009 Global … [read more]
There are several ways you can pay your mortgage off faster and save thousands if not tens of thousands of dollars in interest payments. None of these methods requires that … [read more]
A survey was conducted on April 6 by TransUnion on the current financial status of 1,035 Canadian adults in the wake of COVID-19. The results released showed that 68% are … [read more]
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