Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
Mortgage reforms alone won’t solve housing crisis, says Mortgage Professionals Canada CEO + MORE Oct 25th
Recent mortgage reforms introduced by the federal government, while a step in the right direction, aren’t enough to fully address Canada’s growing housing affordability crisis, according to Lauren van den Berg, CEO of Mortgage Professionals Canada..... More »
The mortgage pro’s guide to AI: What to use, when, and why it matters + MORE Jul 8th
From writing emails and analyzing client data to brainstorming marketing ideas, mortgage professionals are embracing AI to work more efficiently. But knowing which tools to use—and how to use them wisely—can make all the difference..... More »
Frustrated with mortgage tech? You’re not alone + MORE Feb 14th
For the past few years, mortgage brokers have been presented with a seemingly non-stop barrage of new mortgage technology..... More »
As expected, rates are beginning to fall + MORE Jul 17th
Some good news on mortgage rates…
Mortgage Brokers are receiving good news this week from many financial institutions. Wholesale fixed mortgage rates are falling. Great news for anyone buying, refinancing or renewing their mortgage in the near future.
The news co.... More »
10 up and 3 down, unintended consequences! + MORE Sep 22nd
LOTS OF MOVEMENT IN MORTGAGE RATES
Sounds like a football play. But I’m not talking about football even though the NFL season just started and my Buffalo Bills won their first two games. I’m referring to how many times the Bank of Canada’s (BoC) Governor, Tiff Macklem, has changed the Overn.... More »
Latest in mortgage news: nesto gains access to broker channel in exclusive deal with M3 Group
– canadianmortgagetrends.com
Digital mortgage lender nesto this week announced an agreement with M3 Group that will allow it to start distributing mortgages through the broker channel.
Under-35 households lead the way in reducing mortgage debt, StatCan reports
– canadianmortgagetrends.com
Canada’s youngest demographic of homeowners is the only group to have reduced their mortgage debt since rates started rising in 2022.
Many Canadians bought pre-construction homes and condos at the height of the real estate market, as ultra-low interest rates fuelled a steady climb in Canadian real estate prices. Now some of those buyers are walking away from their purchases, unable to close on properties worth less than they paid for them. These buyers risk losing deposits worth $100,000 or more—sometimes, much more.
What are your options if you find yourself in this situation? Let’s look at the intricacies of buying a pre-construction home in Canada, why some buyers are having difficulty closing on their purchases, and steps you can take to avoid losing a large deposit.
You’re 2 minutes away from getting the best mortgage rates in CanadaAnswer a few quick questions to get a personalized rate quote*I’m buying a homeI’m renewing/refinancingYou will be leaving MoneySense. Just close the tab to return.
How does buying a pre-construction home work in Canada?
Generally, pre-construction homes offer several key benefits…
