October 30th, 2023
Canadians are breathing a sigh of relief as the Bank of Canada announced today that rates are staying put at the current 5% overnight lending rate. This announcement follows three … [read more]
October 16th, 2023
From ultra-low interest rates that led to a huge spike in real estate demand to the speed with which interest rates shot up to levels not seen in a generation, … [read more]
Comments Off on Borrowers with Fixed Rates are Expected to See an Average Payment Increase Between 14% & 25% Next Year
October 5th, 2023
The process of getting a mortgage can be complex and time-consuming. Depending on market conditions and individual circumstances, getting approved typically takes 21 to 45 days. It is essential to … [read more]
Comments Off on Factors, Process & Time Frame to Get A Home Mortgage
October 4th, 2023
Bad news for investors : Canada’s inflation rate saw an uptick last month. For many prospective home buyers, this hardly came as a shock. And with Canada’s central bank continuing … [read more]
Comments Off on Will Mortgage Rates Go Down in Canada?
October 3rd, 2023
Mortgage pre-approval and pre-qualification are two different processes that help you secure a mortgage for buying a house. Prequalification estimates how much you can borrow without a credit check. On … [read more]
Comments Off on Understanding The Difference : Mortgage Pre-Qualification vs. Pre-Approval
September 11th, 2023
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]
Comments Off on Preparing Your Finances for A Mortgage Pre-Approval, Being Ready to Buy A Home
September 8th, 2023
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]
Comments Off on Understanding The Inflation Impact on Mortgage Rates & Navigating The Upward Climb
August 4th, 2023
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]
Comments Off on The Future of The Canadian Mortgage Market & Forecast
August 3rd, 2023
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]
Comments Off on Shorter Fixed-Rate Mortgages Trend Finding A Balance Between Stability & Predictability
July 3rd, 2023
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]
Comments Off on Preparing for Rising Interest Rates with A Mortgage Pre-Approval
June 21st, 2023
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]
Comments Off on Checklist for Getting Your First Mortgage
June 20th, 2023
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]
Comments Off on What You Need to Know Before Getting A Mortgage & The Steps Involved
June 14th, 2023
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]
Comments Off on Bank of Canada 2nd Rate Hike of 2023 & The Impact on Spring/Summer Housing Market
June 7th, 2023
‘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]
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June 7th, 2023
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]
Comments Off on Simple Ways for Saving A Down Payment While Renting
May 3rd, 2023
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]
Comments Off on The Set-Up to Save A Down Payment for A Home – It’s All About Prioritizing
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]
Comments Off on The Income Bracket You Need to Buy A Home in Canada
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]
Comments Off on Common Mortgage Mistakes to Avoid
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]
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Comments Off on Are Bank of Canada Rate Hikes Officially Done for 2023?