Jessi Sandhu - Your Brampton Real Estate Agent
First Time Home Buyers News and Articles | My Blog

Wave of sidelined homebuyers plan to return to the market this spring

3/16/2023 | Posted in Canadian Housing Market by Jessi Sandhu

expecting-couple-open-house-541.jpg - Real Estate News 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

couple-browsing-for-homes-444.jpg - Real Estate News 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

bank-of-canada-governor-481.jpg - Real Estate News 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

mortgages-475.jpg - Real Estate News 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


Fixed mortgage rates are falling

1/30/2023 | Posted in Interest Rates by Jessi Sandhu

mortgage-rates---interest-rates-48.jpg - Real Estate News 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

mortgages-475.jpg - Real Estate News 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

worried-businessman-346.jpg - Real Estate News 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

stressed-couple-244.jpg - Real Estate News 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

bank-of-canada-rogers-499.jpg - Real Estate News 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

mortgage-application-form-247.jpg - Real Estate News 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

bank-of-canada-governor-481.jpg - Real Estate News 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

business-data-reporting-274.jpg - Real Estate News 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

new-construction-w-supervisors-285.jpg - Real Estate News 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

property-home-house-110.jpg - Real Estate News 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

stressed-couple-244.jpg - Real Estate News 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

senior-couple-meeting-agent-258.jpg - Real Estate News 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

business-close-up-hand-269.jpg - Real Estate News 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

couple-laptop-106.jpg - Real Estate News 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

calculator--analysis--reporting-128.jpg - Real Estate News 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

home-for-sale-ontario-canada-131.jpg - Real Estate News 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

market-reports-on-business-271.jpg - Real Estate News 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

financial-markets-report-272.jpg - Real Estate News 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

worried-businessman-346.jpg - Real Estate News The first quarter marked the fifth consecutive deterioration in housing affordability, and the worst drop yet, according to National Bank of Canada. ... More


Deputy Bank of Canada governor warns key interest rate could rise above previous target of 3 per cent

6/3/2022 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

stressed-couple-244.jpg - Real Estate News 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

couple-browsing-for-homes-444.jpg - Real Estate News 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

couple-laptop-106.jpg - Real Estate News 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

contract-real-estate-mortgage-102.jpg - Real Estate News 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

big-6-banks-canada-317.jpg - Real Estate News 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

middle-age-couple-visiting-house-263.jpg - Real Estate News 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


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