Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Many mortgage holders have little room for higher payments: MPC + MORE Jun 26th
New consumer research finds recent buyers and newcomers are facing sharper affordability pressure, even as confidence in homeownership remains resilient..... More »
Home prices won’t revert to pre-pandemic levels, should start rising again in 2024: CMHC + MORE May 4th
The Canada Mortgage and Housing Corporation (CMHC) expects home prices to reach a bottom this year, but aren't expected to fall below pre-pandemic levels..... More »
How much income do I need to qualify for a mortgage in Canada? + MORE Apr 18th
Buying a home in Canada isn’t for the faint of heart—or light of wallet. Home prices have steadily trended higher over the past decade, coming to a national average of $698,520 in March 2024. That’s a 75% increase compared to January 2014, and it marks a whopping dollar difference of $398,119,.... More »
Latest in Mortgage News: Are fixed mortgage rates about to take another leg higher? Aug 6th
There's speculation that fixed mortgage rates, which have continued to trend higher over the past several weeks, are set to rise even further..... More »
Honouring the latest Mortgage Hall of Fame inductees Oct 20th
After a pandemic-induced hiatus, hundreds of mortgage professionals gathered at the Vancouver Convention Centre Monday night to honour the latest inductees into the Canadian Mortgage Hall of Fame..... More »
7 smart strategies for first-time home buyers
– moneysense.ca
If you’ve been thinking about buying a house, you may be wondering how you’ll know when it’s “the right time.” If you don’t have a 20% down payment saved up, is it still OK to consider buying? If you can’t afford your forever home, should you still jump into ownership now? And does the COVID-19 pandemic change the rules for first-time home buyers?
Smart people who consider those questions—and more—every day respond with these seven pieces of practical advice.
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1. Get a real pre-approval
Too many buyers are shopping, armed with only a number from an online calculator that provides a top-level estimate of what you might qualify for, says independent mortgage broker Ron Butler, who services clients in the Greater Toronto Area, Ottawa, Vancouver and Calgary…
The Latest in Mortgage News: BoC Deputy Governor Says Rate Hikes Could Come Later Than Expected
– canadianmortgagetrends.com
Financial markets may be pricing in the first interest rate hikes as early as March, but they shouldn’t be too confident about that timing. That was the message from Bank of Canada Deputy Governor Lawrence Schembri during a question and answer session following a speech on the labour market this week. “There’s a lot of uncertainty about the timing of the closing of the output gap, so one should be careful not to assume it’s necessarily going to be the second […]
Real Estate’s Double-Edged Sword
– canadianmortgagetrends.com
It’s easy to forget the power of leverage. With $100,000 of income, a creditworthy borrower can now qualify for almost three times the mortgage they did in the early 1980s. Decades of falling interest rates and expanding credit availability have made that possible, while acting as a giant lever for home values and mortgage activity. The prosperity that’s been created in our industry this millennium is truly phenomenal, and it’s largely thanks to an unprecedented vertical climb in real estate. […]
