Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
Latest News
New mortgage changes for 2024: Wider access to 30-year mortgages and more + MORE Sep 19th
Finance Minister Chrystia Freeland has announced changes to mortgage rules she says are aimed at helping more Canadians to purchase their first home.
“It is going to put the dream of home ownership in reach for more young Canadians,” Freeland told reporters Monday, announcing changes she sai.... More »
Q2 Lender Earnings: Strong Results and a Positive Outlook for H2 + MORE Aug 21st
Some of the country’s key mortgage lenders benefited from strong housing activity seen over the first half of the year, according to second-quarter earnings. While results were strong across the board, part of that was a function of weak Q2 2020 comparisons, which magnified gains this quarter..... More »
Scotiabank’s return to competitive mortgage pricing is “huge” for brokers + MORE Aug 2nd
Scotiabank is back. After “intentionally slowing” its mortgage portfolio last year due to funding constraints, Scotiabank has announced to its broker partners that its competitive pricing is back, along with an expanded retail package program. As Ron Butler of Butler Mortgage described, .... More »
The latest mortgage news: Variable-rate mortgages are making a comeback + MORE Jun 29th
Mortgage borrowers are increasingly opting for variable-rate mortgages, a trend that is expected to continue as the Bank of Canada continues to lower interest rates..... More »
TD Bank plans to sell $9 billion in mortgages to comply with asset cap + MORE Jan 23rd
TD Bank is planning to sell around $9 billion in residential mortgages as it works to adjust its balance sheet and meet an asset cap imposed by U.S. regulators..... More »
Is Now a Good Time to Buy Real Estate in Victoria?
– ratesupermarket.ca
Thinking about buying real estate in Victoria? While some might suggest waiting a year or two for housing prices to come down, now might be a good time to start looking. The quarterly report on Vancouver’s housing market indicates while prices are starting to come down, inventory is high. So, should buyers test the waters or wait and face stiffer competition?
The Decision to Buy or Wait
Based on the Canada Mortgage and Housing Corporation (CMHC), real estate prices have dropped by about seven to eight percent from last June.
“This housing market assessment is an early warning system for vulnerabilities in the housing market. The degree of imbalance between home prices and the local economy is narrower than it has been at any point in the last several years.” That’s from CMHC market analyst Eric Bond.
There’s Still Some Potential Risk
While house prices are coming down in Vancouver, house affordability hasn’t eased that much. In Victoria, to afford a house priced at $741,000 a potential home buyer would need to make $140,000…
