Mortgage pre-approval is an essential step when buying a house. It gives you a clear understanding of your budget and helps you make informed decisions when searching for properties. During … [read more]
Although it might feel like interest rates in 2023 are unbelievably high, they’ve been much higher before. The last time a 5-year fixed mortgage was higher than today’s 6.79% was … [read more]
The Canadian mortgage market is at the precipice of an evolutionary shift as it ventures into a post-pandemic environment. With the 2023 Residential Mortgage Industry Report from the Canada Mortgage … [read more]
Rapidly rising interest rates have transformed mortgage preferences as borrowers increasingly opt for shorter-term fixed-rate contracts. The trend is happening as homebuyers look to find a balance between predictability and … [read more]
In January, the Bank of Canada raised interest rates to 4.50%, the eighth increase in 10 months. Since then rates have held steady, with the Bank comfortable with the effect … [read more]
Purchasing your first home is an exciting milestone, but it’s essential to approach it with careful planning and understanding. One of the most crucial aspects of buying a home is … [read more]
Buying a home is a dream for many people, and a mortgage is the most common way to finance it. If you’re wondering what a mortgage is and how it … [read more]
The Bank of Canada announced its second rate hike of the year, increasing the overnight rate by 0.25% to 4.75%. The Bank cited “stubbornly high” inflation as the main factor … [read more]
‘Tis the season for mortgage renewals. Spring brings about all kinds of newness- new life, vitality, new flora and fauna ….. and new mortgage renewals. For those readers new to … [read more]
One of the biggest financial goals that Canadians have is to purchase a home. In fact, according to a recent survey of 1,200 Zoocasa readers, 76.1% of our respondents said … [read more]
There is a multitude of ways to save for a home, but Canadian Real Estate Wealth has put together a list of the crème de la crème; the shortest distance … [read more]
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]
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]
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]
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]
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]
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]
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]
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