You can afford a second home, let us show you how! Now that low interest Canadian mortgage rates are readily available, it seems like the perfect time to invest in a second home. Here’s what you should know before purchasing a second property. Things to Learn Before Buying a Second Home 1) Do your research. You will need to resist … Read More
So, you’re thinking about investing in real estate? Congratulations – property investment is a great way to diversify your portfolio and improve your financial footing during periods of economic uncertainty. There’s just one problem – you don’t know where to start.
Last Friday, the Canada Mortgage and Housing Corporation issued a statement announcing another round of mortgage restrictions, this time concerning limits on new National Housing Act Mortgage-Backed Securities (NHA MBS). The statement, which was sent to banks, credit unions, and other mortgage lenders, outlined new restrictions that would limit lenders to a maximum of $350-million new guarantees, the amount of … Read More
It was roughly one year ago that Finance Minister Flaherty announced his fourth round of mortgage restrictions in as many years. The reason for these changes was simple: cool down an out-of-control housing market. By tightening lending rules, Flaherty hoped to lower the risk to taxpayers and curb excessive rates of household debt.
How affordable are homes on the Canadian housing market? This is the question at the top of every mortgage broker and home hunter’s mind. As mortgage rates begin to climb and home prices creep ever higher, industry leaders are keeping a close eye on affordability in an attempt to avoid a bubble. It’s no secret that more and more houses … Read More