January 30th, 2023
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]
December 30th, 2022
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]
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December 13th, 2022
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]
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December 12th, 2022
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]
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December 5th, 2022
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]
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November 28th, 2022
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]
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November 16th, 2022
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]
Comments Off on Fixed-Rate vs. Variable-Rate Mortgages : Which Type is Better for Your Borrowing Needs?
November 3rd, 2022
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]
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October 31st, 2022
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]
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October 26th, 2022
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]
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October 24th, 2022
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]
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October 5th, 2022
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]
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September 27th, 2022
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]
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September 14th, 2022
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]
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September 13th, 2022
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]
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September 6th, 2022
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]
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September 1st, 2022
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]
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August 31st, 2022
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]
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August 30th, 2022
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]
Comments Off on Open vs. Closed Mortgages : Which to Choose?
August 24th, 2022
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]
Comments Off on Decide Between A Variable or Fixed-Rate Mortgage While Interest Rates are Rising
August 23rd, 2022
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]
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August 22nd, 2022
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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