Wave of sidelined homebuyers plan to return to the market this spring
3/16/2023 | Posted in Canadian Housing Market by Jessi Sandhu
Many Canadian homebuyers were sidelined after interest rates climbed to the highest level in more than a decade last year, but a new report found most individuals that postponed ...
More
FHSA Is A Must Have For First-Time Home Buyers
3/1/2023 | Posted in First Time Home Buyers by Jessi Sandhu
Move over RRSP Home Buyers' Plan (HBP) - there's a new kid in town. The Tax-Free First Home Savings Account (FHSA) arrives on April 1st, 2023. ...
More
BoC: Time to pause but there are no guarantees that will stick
2/16/2023 | Posted in Interest Rates by Jessi Sandhu
Governor Tiff Macklem set an optimistic tone in a speech Thursday but kept it real with warnings about potential headwinds ...
More
What's next for variable-rate mortgages in 2023?
2/14/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
One of the most prominent discussion points between brokers, agents and their clients, the fixed-versus-variable debate, took a significant swing in 2022 as a big trend of ...
More
1/26/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Central bank signalled it would put the rate hiking cycle on pause - at least for now ...
More
Fixed mortgage rates are falling
1/30/2023 | Posted in Interest Rates by Jessi Sandhu
While rates have been steadily climbing for variable mortgages, fixed mortgage rates have been moving in the opposite direction. ...
More
OSFI proposes new mortgage restrictions
1/13/2023 | Posted in Mortgage News by Jessi Sandhu
Canada's banking regulator has unveiled three new regulatory proposals that could further restrict mortgage lending pending a just-launched consultation period. ...
More
OSFI leaves mortgage stress test unchanged
12/15/2022 | Posted in Home Buyers by Jessi Sandhu
Canada's banking regulator confirmed today it will leave the mortgage stress test for uninsured mortgages unchanged. ...
More
Is a change to the mortgage stress test on the way?
12/5/2022 | Posted in Home Buyers by Jessi Sandhu
With Canada’s banking regulator set to deliver its verdict in mid-December on whether changes to the mortgage stress test are required, a prominent economist at one of the ...
More
Recent homebuyers to find rate increases painful: BoC
11/23/2022 | Posted in Home Buyers by Jessi Sandhu
Variable-rate mortgage holders who have recently purchased their homes will be especially burdened by the prevailing rate-hike environment, according to Bank of Canada senior ...
More
Canada's mortgage stress test - leading lenders weigh in
11/15/2022 | Posted in Home Buyers by Jessi Sandhu
Already a source of huge debate in the mortgage industry since its introduction, the mortgage stress test came under scrutiny from executives at top Canadian lenders during a ...
More
BoC's Macklem: More interest rate hikes are "warranted"
10/7/2022 | Posted in Mortgage Interest Rates by Jessi Sandhu
Having already raised interest rates by 300 basis points this year, the Bank of Canada’s Tiff Macklem confirmed on Thursday that additional rate hikes (plural form) are ...
More
Nearly 1 in 5 Canadians putting off buying a home due to inflation, high interest rates: survey
10/4/2022 | Posted in Home Buyers by Jessi Sandhu
With high inflation and rising interest rates, a new survey has found nearly one in five Canadians say they're putting off buying a home. ...
More
New construction home buyers vanish as interest rates rise
9/28/2022 | Posted in New Developments by Jessi Sandhu
Sales levels of condos and single-family homes were more than 80 per cent lower than last August, says the homebuilders’ association. ...
More
OSFI has no plans to loosen the stress test
9/14/2022 | Posted in Home Buyers by Jessi Sandhu
Despite today’s mortgage borrowers having to qualify at rates in excess of 6% and 7%, Canada’s banking regulator said no changes to the stress test are imminent. ...
More
Canadian banking regulator insists it will not budge over mortgage rules
9/9/2022 | Posted in Home Buyers by Jessi Sandhu
Renewed calls to re-evaluate the stress test came in the wake of the Bank of Canada's latest outsized rate hike ...
More
Canadians turning to credit unions for mortgages as interest rates jump
9/8/2022 | Posted in Home Buyers by Jessi Sandhu
In a country where the Big Six banks control 80 per cent mortgage market share, Canada’s smaller lenders are making some rare headway after the Bank of Canada’s sudden ...
More
BoC's Affordability Index reaches its worst level since 1991
8/14/2022 | Posted in Home Buyers by Jessi Sandhu
Housing affordability deteriorated to its worst level in over 30 years, according to data from the Bank of Canada. ...
More
New first home savings account details revealed
8/12/2022 | Posted in First Time Home Buyers by Jessi Sandhu
Details of a new account to help Canadians save to buy their first home have been revealed this week. ...
More
What Are the Monthly Expenses of Carrying a Home?
8/1/2022 | Posted in Home Buyers by Jessi Sandhu
Here is a list of expenses you will have with carrying a home. ...
More
High inflation and rising interest rates are a financial opportunity for young people
7/30/2022 | Posted in Canada Living by Jessi Sandhu
These circumstances create one of the greatest lifetime wealth-building opportunities for millennials and Gen Z. ...
More
This is how much money you need to make to afford a house in Toronto
7/25/2022 | Posted in Toronto Real Estate by Jessi Sandhu
New data is revealing how much money Toronto residents need to make in order to afford to purchase a home in the city. ...
More
Bond yields soar higher, fixed mortgage rates expected to follow
6/14/2022 | Posted in Interest Rates by Jessi Sandhu
Bond yields surged to a fresh 14-year high this week, driving expectations that fixed rates are likely to continue rising. ...
More
Housing affordability had its worst decline "in a generation"
6/7/2022 | Posted in Canada Living by Jessi Sandhu
The first quarter marked the fifth consecutive deterioration in housing affordability, and the worst drop yet, according to National Bank of Canada. ...
More
6/3/2022 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
One day after raising the key interest rate by 50 basis points to 1.5 per cent, the Bank of Canada is warning Canadians that rates could rise above previously targeted levels in ...
More
How Does Your Credit Score Affect Your Mortgage Interest Rate?
6/1/2022 | Posted in Home Buyers by Jessi Sandhu
Many wonder if and how their credit score affects their ability to buy a house. ...
More
CMHC to introduce limits on First-Time Home Buyer Incentive amid falling home prices
5/30/2022 | Posted in First Time Home Buyers by Jessi Sandhu
Now that home prices have started to fall from their February peak, the federal government is reportedly planning to introduce limits on its First-Time Home Buyer Incentive ...
More
A 50-bps rate hike in June is ''virtually guaranteed'' after April's hot inflation reading
5/19/2022 | Posted in Mortgage Interest Rates by Jessi Sandhu
The cost of living continued to increase in April, raising the odds that the Bank of Canada will respond forcefully with at least a 50-basis-point rate hike at its June meeting. ...
More
Lenders hike fixed rates yet again, closing in on 4.5%
5/9/2022 | Posted in Interest Rates by Jessi Sandhu
Following a jump in bond yields last week, lenders across the country once again bumped up their fixed mortgage rates. ...
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
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 we'll get back to you promptly.