April 10th, 2019
Experts see signs that mortgage interest rates in Canada may continue dropping this year. In a note sent to clients this morning, BMO Senior Economist Robert Kavcic points to the … [read more]
April 9th, 2019
Canada’s stress test for uninsured mortgages has been under fire from the real estate industry, but it appears policymakers are unlikely to budge and scrap the year-old measure. There may, … [read more]
Comments Off on What Changes Can Actually Help Canadian Homebuyers?
April 8th, 2019
To demonstrate how BC home sales activity has dropped off in the 14 months after policymakers changed the qualification process for uninsured mortgages, a provincial real estate association has drawn … [read more]
Comments Off on The Impact of Tougher Mortgage Rules to BC’s Housing
April 5th, 2019
Qualifying for a mortgage is a huge milestone for a first-time buyer on the quest to homeownership. In a time of restrictive mortgage rules, federal stress testing and climbing prices, … [read more]
Comments Off on A First-Time Homebuyer’s Guide to Finding The Right Mortgage Term & Amortization
April 3rd, 2019
Engaging in the services of a mortgage broker in Vancouver is a major decision in your life. It is one that should come with a lot of thought and questions. … [read more]
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March 28th, 2019
I’m currently saving for a downpayment on a cottage in Ontario. Since I met with a financial planner two weeks ago to make a savings plan, I’ve been tempted to … [read more]
Comments Off on How to Save for A Down Payment Without Ruining Your Life
March 27th, 2019
Are you ready to buy your own home? That may sound like a bit of a weird question. However, many homebuyers are just not prepared when it comes to buying … [read more]
Comments Off on What Matters When Choosing a Lender
March 27th, 2019
With Canada’s hottest housing markets cooler and the rock-bottom interest rates that fueled a household debt binge a thing of the past, some may wonder if the federal government’s mortgage … [read more]
Comments Off on Why Canada Still Needs The Mortgage Stress Test
March 26th, 2019
Moving out of your parent’s house was once seen as a rite of passage to entering the real world, one of the first early steps into full-fledged adulthood. Yet, with … [read more]
Comments Off on Have a Saving Plan & Build A Foundation While Living with the Parents
March 25th, 2019
To qualify for the best mortgage rates, you’ll need a high credit score. When you apply for a mortgage, lenders use your credit score as a significant factor in determining … [read more]
Comments Off on How Does the Credit Score Affect the Mortgage Interest Rates?
March 22nd, 2019
The Bank of Canada (BoC) officially turned dovish in today’s scheduled rate announcement, keeping its trend-setting Overnight Lending Rate untouched at 1.75%, and explicitly stating lower interest rates will continue … [read more]
Comments Off on What Does Bank of Canada March Announcement Mean for the Mortgage Rate?
March 18th, 2019
Economic researcher Will Dunning has a problem with the mortgage stress test the federal government imposed about a year ago. Actually, he has four. Last January, the Canadian government expanded … [read more]
Comments Off on Canada’s Mortgage Stress Tests Are Hurting the Homebuyers & Economy
March 15th, 2019
The Bank of Canada for some time has been suggesting higher and higher interest rates are coming soon — until this week. Economists are noting the central bank took on … [read more]
Comments Off on Interest Rate Hikes Could Pull A U-Turn
March 13th, 2019
Asking for a friend — if you’re a 29-year-old writer with minimal savings and a monthly rent in Toronto that is nearly half of your income (plus you’re saddled with … [read more]
Comments Off on Making a Down Payment Savings Plan
March 12th, 2019
Money and family can be a tricky combo to manage, especially when comes to one of life’s most expensive purchases — buying your first home. As tougher mortgage rules and … [read more]
Comments Off on Getting A Loan from The Bank of Mom & Dad?
March 8th, 2019
Despite having the highest home prices in Canada, rising lending costs and plunging home sales, Metro Vancouver mortgage holders have the lowest mortgage delinquency rate in the country, according to … [read more]
Comments Off on Metro Vancouver Mortgage Delinquency Rates Lowest in Canada Despite Highest Prices & Plunging Sales
March 5th, 2019
The prospect of being on the hook for mortgage payments for the next quarter-century would make the heart of every first-time buyer pound. Signing the dotted line for the largest … [read more]
Comments Off on Mortgage Questions for 1st-Time Homebuyers
March 1st, 2019
The unexpectedly weak Canadian housing market is one factor making it likely Bank of Canada Governor Stephen Poloz will take a less aggressive approach to interest rates this year, notes … [read more]
Comments Off on Bank of Canada will Take Interest Rate Hikes Easier This Year After Aggressive 2018
February 28th, 2019
Spotty credit card payments might not seem like a big deal when you’re first starting out, but that banking boomerang will hit you hard when it comes back around during … [read more]
Comments Off on It’s Important to Establish Healthy Credit Habits Long Before Homeownership Occurs
February 27th, 2019
Higher interest rates and new lending rules have curbed Canadians’ appetite for taking on mortgage debt, a new report suggests. According to credit-rating agency TransUnion Canada, the number of mortgages … [read more]
Comments Off on The End of Canada’s Mortgage Borrowing Spree
February 22nd, 2019
For prospective homebuyers, there are several financial hoops to jump through on the way to property ownership: growing a healthy downpayment, securing a preapproval, and finding a home that fits … [read more]
Comments Off on A Active Homebuyer’s Guide to Understanding Canada’s Mortgage Stress Test
February 18th, 2019
If the Canadian government acts on a major national industry group’s recommendation to help first-time homebuyers get a leg up, it will still fall short of providing the relief much … [read more]
Comments Off on Extending The Amortization Period isn’t Enough for Toronto & Vancouver Pricy Markets
Comments Off on Signs Point to Lower Canadian Mortgage Rates This Year