Canada's banking regulator considers alternative to mortgage stress test
3/11/2025 | Posted in Home Buyers by Jessi Sandhu
Canada’s top banking regulator is considering a new approach to mortgage risk management that could replace the current stress test with stricter rules on how much banks can ...
More
New year, better mortgage rates: Credit tips to get you there
1/5/2025 | Posted in Financial Health by Jessi Sandhu
As we step into a new year, it’s a great time to reassess your financial habits and ensure your credit profile is in top shape. ...
More
A First Home Savings Account should be on every first-time buyer's holiday wish list
12/24/2024 | Posted in First Time Home Buyers by Jessi Sandhu
Introduced in April 2023, the First Home Savings Account (FHSA) is a game-changer for Canadians looking to save for their first home, combining the best features of an RRSP and ...
More
What you need to know before helping your child with a home down payment
10/31/2024 | Posted in First Time Home Buyers by Jessi Sandhu
With the benchmark prices for a home in Toronto or Vancouver at over a million dollars, the prospect of saving enough for a down payment to enter the real estate market can be a ...
More
Poilievre asks premiers to axe their sales taxes on new homes worth under $1 million
11/4/2024 | Posted in Government and Regulation by Jessi Sandhu
Conservative Leader Pierre Poilievre has written to the provinces’ premiers, asking them to eliminate their sales taxes on new homes that are under $1 million. ...
More
Here's why a mortgage broker thinks a 30-year amortization is a 'trap'
10/25/2024 | Posted in Home Buyers by Jessi Sandhu
The federal government allowed 30-year mortgage amortizations for first-time homebuyers purchasing new builds in August, and the new rules are set to expand in December to ...
More
Federal government releases technical details of its latest mortgage changes
9/25/2024 | Posted in Government and Regulation by Jessi Sandhu
As a follow-up to last week’s announcement, the federal government has unveiled a more detailed framework for its updated mortgage rules, which are set to take effect on ...
More
Canada's 30-year mortgage option has officially launched
8/2/2024 | Posted in First Time Home Buyers by Jessi Sandhu
The Canada Mortgage and Housing Corporation (CMHC) has officially launched Home Start, a 30-year mortgage option for first-time homebuyers purchasing newly constructed homes. Will ...
More
First-time buyers relying on gifted down payments more than ever
7/29/2024 | Posted in First Time Home Buyers by Jessi Sandhu
Mortgage down payment gifts from family members remain a crucial factor for first-time homebuyers in Canada, even as the housing market cools and economic conditions tighten. ...
More
6/25/2024 | Posted in First Time Home Buyers by Jessi Sandhu
More than one-third of first-time homebuyers in Ontario are getting help with their down payment and the average gift now tops $100,000, according to a report from CIBC. ...
More
The Liberals' savings account for first-time homebuyers mostly got only small deposits
6/1/2024 | Posted in First Time Home Buyers by Jessi Sandhu
New home savings accounts have been used by 624,000 Canadians according to tax data, with a median deposit of $2,040. ...
More
Fixed mortgage rates are rising. What's the deal?
4/18/2024 | Posted in Home Buyers by Jessi Sandhu
As variable-rate mortgage holders eagerly anticipate the Bank of Canada’s first rate cut, fixed rates are heading in the other direction: up. ...
More
Ottawa to allow 30-year amortization for first-time buyers' mortgages on new homes
4/11/2024 | Posted in Government and Regulation by Jessi Sandhu
Some advocates are praising Ottawa’s move to lengthen the amortization period on insured mortgages for certain homebuyers, but say expanding the policy to all Canadians ...
More
Variable or short-term fixed mortgage? Where experts see the "sweet spot"
3/13/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
The Canadian mortgage space is already seeing some rates on offer decline heading into the spring market, despite no clear indication yet from the Bank of Canada that interest ...
More
CMHC to scrap First-Time Home Buyer Incentive and refocus funding on other tools
3/2/2024 | Posted in Home Buyers by Jessi Sandhu
The federal government has announced it will be discontinuing its First-Time Home Buyer Incentive (FTHBI) program as of March 21. ...
More
One-third of Canadians considering alternative home ownership models amid low affordability
2/27/2024 | Posted in Home Buyers by Jessi Sandhu
One third of Canadians are considering alternative home ownership models, a new survey has found, as purchasing a home remains out of reach amid an ongoing affordability crunch. ...
More
Tax advantages driving exodus from Canada's priciest housing markets
2/6/2024 | Posted in Canada Living by Jessi Sandhu
A new report published today reveals that the burden on buyers from provincial governments’ billions of dollars in levies and development fees on new construction, and ...
More
Rise in bond yields could send fixed mortgage rates higher, experts say
1/18/2024 | Posted in Mortgage Interest Rates by Jessi Sandhu
This week’s rise in bond yields could cause some lenders to reverse recent fixed mortgage rate cuts, experts say. ...
More
Latest in Mortgage News: OSFI leaves stress test rate unchanged
12/13/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada’s banking regulator confirmed it will leave the mortgage stress test for uninsured mortgages unchanged. ...
More
No end in sight to housing affordability crisis, says BMO's Guatieri
8/28/2023 | Posted in Canadian Housing Market by Jessi Sandhu
The Bank of Canada's June and July interest rate increases essentially put a stop to the housing market’s recovery, says analyst. ...
More
1 in 5 homebuilders are nixing projects amid high rates. Here are your rights
8/18/2023 | Posted in New Developments by Jessi Sandhu
Many Canadian homebuyers waiting patiently for construction to finish on their pre-sale unit are being met with cancellation notices from developers. The building environment is ...
More
What impact might OSFI's new proposals have on borrowing costs?
7/26/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
The plan might help safeguard the stability of the financial system - but could also see mortgage costs rise. ...
More
Fixed mortgage rates surge again, pushing rates under 5% to the brink
6/16/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Fixed mortgage rates are once again on the rise, with rates under 5% quickly becoming a distant memory. ...
More
Ontario's first-time buyers prefer detached homes and townhouses over condos
3/14/2020 | Posted in Ontario Real Estate by Jessi Sandhu
Condo developers in Ontario looking to sell units to millennials and first-time home buyers could be barking up the wrong tree, according to a new survey from OREA. ...
More
10 first-time homebuyer trends
2/24/2020 | Posted in First Time Home Buyers by Jessi Sandhu
Genworth Canada’s 2019 First-Time Homeownership Study provides a snapshot of the demographics of Canada’s first-time homebuyers (FTBs), what’s motivating them ...
More
OSFI considering new benchmark rate for uninsured mortgages
2/19/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu
The Office of the Superintendent of Financial Institutions (OSFI) has announced that it is considering a new benchmark rate to determine the minimum qualifying rate for uninsured ...
More
2/10/2020 | Posted in GTA Real Estate by Jessi Sandhu
Mortgage stress test forces homebuyers further outside GTA to find house they can afford. ...
More
Initiative to increase tax rebate for first-time buyers in Toronto
1/27/2020 | Posted in Toronto Real Estate by Jessi Sandhu
Two city councillors are pushing for a rethink of Toronto's municipal land transfer tax rebate for first-time home buyers, suggesting the cap should be increased to match the ...
More
Owning a home is a pipedream for many Canadian millennials
12/13/2019 | Posted in Home Buyers by Jessi Sandhu
Millions of Canadian millennials feel they may never be able to follow previous generations into homeownership according to a new survey. ...
More
CMHC's Siddall Defends Policies, Provides Update on the FTHBI
11/22/2019 | Posted in Canadian Housing Market by Jessi Sandhu
Some fresh information on the status of the First-Time Home Buyer Incentive (FTHBI) and a possible increase on the $1M cap for insured ...
More
At Your Service
Thinking of buying or selling a property, or have a question regarding the real estate market? Fill out the form below and 'll get back to you promptly.