This is how much money you need to make to buy a house in Canada's largest cities
11/21/2024 | Posted in Canadian Housing Market by Jessi Sandhu
The average income needed to buy a home keeps inching down in cities across Canada, according to the latest data. ...
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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 ...
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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. ...
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Rate drops help boost housing affordability: RBC
10/9/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
Interest rate cuts by the Bank of Canada in recent months have helped reduce ownership costs for homeowners and buyers and bring about a slight improvement in the overall housing ...
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Federal government raises insured mortgage cap to $1.5M, expands 30-year amortizations
9/17/2024 | Posted in Government and Regulation by Jessi Sandhu
The federal government has unveiled sweeping changes to Canada’s mortgage system, calling them the “boldest reforms in decades.” ...
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Fixed mortgage rates are falling again. Here's why
8/1/2024 | Posted in Mortgage Interest Rates by Jessi Sandhu
Canadian lenders are cutting fixed mortgage rates following a drop in bond yields. But what’s behind these latest moves? ...
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Bank of Canada cuts key interest rate to 4.5% with hints of more to come
7/24/2024 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada cut its benchmark interest rate by a quarter of a percentage point on Wednesday, the second straight reduction in the central bank’s easing cycle. ...
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Most Canadian renters can't afford to buy a home due to insufficient income
6/21/2024 | Posted in Home Buyers by Jessi Sandhu
Many Canadian renters do not plan to purchase a home in the near future, with affordability challenges being a significant factor. ...
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New legislation includes 10-day 'cooling-off' period for new home purchases
5/30/2024 | Posted in Government and Regulation by Jessi Sandhu
The Ontario government has introduced legislation that includes a new 10-day cooling-off period for purchases of new freehold homes. ...
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Parental wealth boosts young Canadians' home ownership
5/2/2024 | Posted in Canada Living by Jessi Sandhu
New study shows how parental wealth significantly affects millennials and Gen Z's home ownership and property values in Canada ...
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Majority of aspiring homeowners awaiting rate cuts before buying: BMO survey
4/30/2024 | Posted in Home Buyers by Jessi Sandhu
The majority of Canadians aspiring to buy a home say they will push their plans to next year or later to wait for interest rates to drop, a new survey shows. ...
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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. ...
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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 ...
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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. ...
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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 ...
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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. ...
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'A buyers' market with no buyers': CIBC economist on housing market
12/13/2023 | Posted in Canadian Housing Market by Jessi Sandhu
Some home sellers are struggling to find buyers amid high mortgage costs, according to an economist who says Canada’s housing market is in the midst of “a very healthy ...
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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. ...
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New mortgage activity slowing - but debt continues rising, says CMHC
11/9/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Residential mortgage debt in Canada totalled $2.14 trillion as of August this year, up by 3.4% compared with the same month in 2022 as the value of uninsured mortgages outstanding ...
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Latest in mortgage news: Mortgage rates keep surging higher
9/29/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
Mortgage providers across the country have been busy raising rates over the past week, and it could continue next week with as bond yields continue to rise. ...
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Mortgage interest costs now up over 80% since the start of the BoC's rate hikes
9/14/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canadian mortgage borrowers continued to see their interest costs climb in the second quarter, which have now soared over 80% since the Bank of Canada started raising interest ...
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Investors have increased their share of mortgaged homebuyers
9/12/2023 | Posted in Real Estate Investments by Jessi Sandhu
Investors in Canada’s residential real estate market accounted for a larger share of mortgaged purchases than repeat homebuyers in recent years despite rising interest ...
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OSFI seeks to address problem of fixed-payment variable-rate mortgages
9/8/2023 | Posted in Home Buyers by Jessi Sandhu
It’s no secret that Canada’s banking regulator has its sights set on fixed-payment variable-rate mortgage products. And OSFI chief Peter Routledge reiterated that ...
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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. ...
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Canada's mortgage stress test: Obsolete or still doing its job?
8/14/2023 | Posted in Home Buyers by Jessi Sandhu
Originally introduced to mitigate borrower default risks in the event of rising interest rates, some brokers now argue that Canada’s mortgage stress test is no longer needed ...
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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. ...
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What mortgage owners need to know about the Bank of Canada's rate hike
7/13/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Following the Bank of Canada’s latest interest rate hike, experts say Canadian mortgage owners will feel the impact of higher borrowing costs, either in the form of higher ...
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Bank of Canada raises policy rate 25 basis points, continues quantitative tightening
7/12/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
The Bank of Canada today increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of ...
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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. ...
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Demand grows in Canada for short-term fixed-rate mortgages
5/17/2023 | Posted in Home Buyers by Jessi Sandhu
A string of aggressive interest rate hikes from the Bank of Canada is driving short-term fixed-rate mortgage demand higher, according to a new survey. ...
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