It’s no secret that the Canadian housing market has been a bit volatile as of late. In certain portions of the country, prices are hot, hot, hot. Price bidding is common in Vancouver, and Toronto and Montreal are both posting record sales numbers. And yet, everywhere you look, experts keep warning of an impending bubble. So, what’s the deal? Is … Read More
Housing and the Big, Bad Budget
A lot has been said about Thursday’s budget announcement. From Flaherty’s shoe selection to a vague job-training program, many Canadian’s were left slightly confused following the much-anticipated announcement. With that being said, Flaherty’s eighth (and potentially final) budget announcement could have been worse, especially for the mortgage industry. Thursday’s budget included a tightening of controls on mortgage lending once again, … Read More
What if the Government Didn’t Back Mortgages?
Saving for a down payment on a home takes dedication, perseverance, and sacrifice. For many, it also takes a long, long time. According to a recent report from Rate Supermarket, come 2020 the average cost of a home in Canada will be $553,000. To accumulate a measly 5 percent down payment for such a home, recent graduates should expect to spend … Read More
New Barriers for First-time Home Buyers
It’s no secret that the residential real estate market relies on a steady stream of first-time home buyers. A constant and consistent demand from young buyers is what keeps housing prices from declining. Unfortunately, new mortgage rules are making it harder for cash-strapped buyers to qualify for current real estate prices. In a logical economy, housing prices would have to … Read More
Ten Tips for Aspiring Homeowners
Thinking of buying while interest rates are still low? Follow these tips to ensure that your finances are ready for a long-term investment.