Category: Uncategorized

Housing affordability declined in August across Canadian provinces except British Columbia. British Columbia is the only province where affordability improved slightly. Buyers in BC still require ~$200K in annual income to qualify under the federal stress test.

THINK Financial (True North Mortgage) offers competitive rates, a higher annual prepayment privilege than most institutions (20%) and lower payout penalties for breaking a mortgage contract. People’s Bank has lower rates than the Big Five Banks, Bank of Montreal has the lowest interest rates on 5-year fixed-rate mortgages, Alterna has competitive rates and Bank of…

This article reviews the best 10-year fixed rate mortgages in Canada for 2023. We reviewed 100 mortgage lenders that do business both online and in-person throughout Canada, and the lenders we reviewed represent some of the largest mortgage lenders by volume in Canada. Locking in your mortgage at a competitive interest rate for an extended…

RBC reports strong initial interest in the FHSA program for tax-free down payment savings. Since April 1, tens of thousands of Canadians, primarily aged 25-34, have opened FHSA accounts, with 56% being younger clients.

The Bank of Canada has decided not to raise rates in September, but James Laird, co-CEO of Ratehub.ca and CanWise president, believes borrowers cannot afford to be complacent about future interest rates. The Bank has indicated that it is willing to raise rates again if economic indicators do not turn out as expected. Laird advises…

National Day for Truth and Reconciliation honours survivors and raises awareness about their experiences. It's a symbol of Canada's commitment to reconciliation with Indigenous communities. Wearing orange shirts on this day symbolizes respect for survivors and raises awareness about residential schools. May this day inspire a future where every voice is heard, and every spirit…

Experts are divided on the potential impact of the Bank of Canada's (BoC) decision to pause interest rate hikes on the real estate market. During the previous pause, home prices experienced a surge, however, this time around there are factors such as increased inventory, a softer job market, and higher mortgage rates that suggest a…

Conduct a Comparative Market Analysis (CMA) to evaluate similar properties in the area. Consult with a Real Estate agent for expert advice and navigating negotiations.

Despite economic uncertainty, Canada's premium Real Estate markets are stable and in demand. The foreign buyer ban is affecting high-profile athletes and executives, leading them to rent instead of buying properties.

The Canadian economy is being affected by increasing interest rates, which has caused a decline in profits and more provisions for potential loan losses for major banks. Consumers who have not yet renewed their mortgages have yet to feel the full impact of higher borrowing costs, leading to a potential strain on their finances. Despite…