The new year brought with it new optimism that maybe, something will finally give to make Canadian real estate more affordable. The Consumer Price Index for December 2022 was released … [read more]
Mortgage Rate Outlook The relative calm in the mortgage markets contrasts with the unprecedented volatility in the bond market. From just the second half of October to early November, Canadian … [read more]
The Bank of Canada (BoC) has raised its overnight lending rate again, this time by 50 basis points. This announcement marks its seventh and final interest rate increase of 2022. … [read more]
Deciding that you want to buy a house is an exciting time in anyone’s life. But now you’re left with the not-so-exciting process of figuring out how you’ll come up … [read more]
To combat rising interest rates, especially if you are locked into a variable mortgage, some lenders allow you to prepay a set amount annually to decrease your principal owing. This … [read more]
If you’re an aspiring first-time home buyer in Toronto, we get it. It seems like everything from government intervention, rising home prices, and increasing mortgage rates are conspiring against your … [read more]
Canadian interest rates are hovering near record highs compared to the last decade, making borrowing money significantly more expensive. Prospective homebuyers looking to take on mortgage debt face a difficult … [read more]
It’s no secret that the process of buying a house is a complicated one. There are a lot of steps involved and a lot of paperwork to fill out. Not … [read more]
The Bank of Canada (BoC) announced its sixth interest rate of the year, raising rates by another 50 basis points. This follows its interest rate increase of 75 basis points … [read more]
The Bank of Canada (BoC) interest rate hikes have led to greater demand for rental properties. This has caused already tight conditions in the rental market to become even tighter. … [read more]
What Exactly is the Housing Price to Income Ratio (HP2IR)? The house price-to-income ratio, sometimes colloquially referred to as the income ratio, is a fundamental measure of home price valuation. … [read more]
Home sales are a part of the economy that is affected fast and significantly when the Federal Reserve raises interest rates. Buyers are directly and immediately impacted but sellers are … [read more]
A new mortgage rate forecast from the British Columbia Real Estate Association (BCREA) expects mortgage rates for British Columbians to stay high and potentially get higher by the end of … [read more]
Buying a house is a dream come true for many people. Still, getting a massive debt representing a significant amount prevents you from saving money. It can also affect your … [read more]
What is a Home Equity Loan? Home Equity Line of Credit (HALOC) loans can help borrowers get loans by using the equity in their home. Loans secured against the value … [read more]
Co-signing a mortgage is a very useful option for homebuyers looking to help make their home purchase succeed even with a less than ideal financial profile. However, co-signing is also … [read more]
First-time home buyers are often navigating a very different market than what their parents and grandparents described. Interest rates are high, competition is steep and stress tests are common. All … [read more]
The average home buyer in the US needs about $250,000. If you’re like the majority of potential homebuyers, you don’t have this kind of money. Even if you do, you’re … [read more]
Choosing the right mortgage for you can be a stressful process. Besides just being a long-term contract that will affect you for multiple years, mistakes can be costly too. One … [read more]
The Bank of Canada interest rate increases have been top of mind for Canadians across the country. The real estate market started with a boom in 2022; home prices were … [read more]
Nearly 87% of people who buy homes finance their home purchases. While many choose 30-year loans, some choose a 15-year mortgage. Financing a home is the easiest way to buy … [read more]
The dream of retirement is a near-universal goal for Canadians. After a lifetime of working to pay the bills and set some funds aside for the later years, we all … [read more]
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