April 18th, 2023
Housing prices have risen drastically in the last few years, and despite the small correction set about by the consistent interest rate hikes in the last 10 months, they remain … [read more]
March 24th, 2023
Mortgage Rate Outlook Mixed signals from Canadian economic data are making the outlook for the Canadian economy somewhat cloudy. While labour markets remain very strong, economic growth appears to have … [read more]
Comments Off on BCREA Economic, Mortgage Rate & Bank of Canada Outlook
March 14th, 2023
After almost one year of interest rate hikes, the Bank of Canada has finally announced it is holding rates. In January, the BoC raised its Overnight Lending Rate by 0.25%, … [read more]
Comments Off on The Wait is Over : BoC Finally Takes A Pause on Interest Rate Hikes
March 6th, 2023
Homeownership is usually thrilling, especially for a first-time home buyer. It fulfills a lifelong dream and offers a new sense of reliability. However, mortgage missteps are likely to occur during … [read more]
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March 3rd, 2023
The Metro Vancouver housing market will continue to see increased interest rates, financial pressure from mortgage stress tests and low inventory this coming year, according to a new report from … [read more]
Comments Off on Mortgage Stress Tests May Weigh on Metro Vancouver Homebuyers in The Coming Year
February 22nd, 2023
New mortgage data is offering a snapshot of where BC homeowners are getting their first foot into homeownership and how recent interest rate hikes are weighing down younger people more … [read more]
Comments Off on BC Suburban & Periphery Cities Have A Higher Number of Mortgage Holders
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]
Comments Off on BoC The 8th Interest Rate Increase in 10 Months
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]
Comments Off on Mortgage Rate Forecast, Canadian Economic & Bank of Canada Outlook
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]
Comments Off on The Total Impact of Interest Rate Hikes in 2022
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]
Comments Off on Be Mindful, Plan Ahead on Saving for A House
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]
Comments Off on Worry About Harder to Qualify & Afford A Home?
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]
Comments Off on 2023 Mortgage Rates to Stay High, Bring Economic Uncertainty
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]
Comments Off on Tips for Helping Your Close The Mortgage Balance Early
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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Comments Off on The Income Bracket You Need to Buy A Home in Canada