Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
B.C. home sales to fall as interest rates rise, but prices stay strong: BCREA + MORE Mar 10th
VANCOUVER _ Real estate experts in British Columbia predict residential home sales will dip this year but remain well above the province’s 10-year average, although they warn rising interest rates could leave some B.C. households “vulnerable.”
The British Columbia Real Estate Assoc.... More »
Q4 2020 Bank Earnings – The End of Mortgage Deferrals Jan 13th
When 2020 came to an end, so too did the vast majority of mortgage deferral programs offered by the Big 6 banks and other Canadian lenders..... More »
Changes to Canada’s CMB program could have unintended consequences, experts say + MORE May 31st
As the federal government considers streamlining its process for funding mortgages, some worry that changes to the Canadian Mortgage Bond (CMB) program could have unintended consequences..... More »
The First Key to Financial Success: Becoming Financially Literate + MORE Jan 26th
A new year provides the perfect opportunity to mentally give yourself a clean slate and get a handle on your finances. Are you planning on saving more this year? Investing? Paying off debt? No matter your resolution, you first need to gain a clear understanding of where you stand financially.
And i.... More »
Home Capital shareholders reject new investment from Berkshire Hathaway + MORE Sep 13th
Shareholders of Home Capital Group Inc. voted against taking a second life line from Warren Buffett's Berkshire Hathaway, which keeps the billionaire's stake in the alternative mortgage lender at just under 20 per cent..... More »
CREA May 2014 Report: A 4-Year Record for Sales
– ratesupermarket.ca
Bad weather may have delayed the busy spring real estate season but it didn’t completely sour homebuyers’ shopping moods. According to the Canadian Real Estate Association (CREA), home sales were up 5.9 per cent from April to May this year. That’s the strongest month-over-month increase in four years.
Low mortgage rates have made it possible for sales to grow at this rate, despite dwindling affordability in markets like Toronto and Vancouver.
Here’s what you need to know about current market conditions, whether you’re a buyer, seller or current owner.
Low mortgage rates have made it possible for sales to grow at this rate, despite dwindling affordability in markets like Toronto and Vancouver.
Here’s what you need to know about current market conditions, whether you’re a buyer, seller or current owner.
Big City Gains
Canada’s urban centres are experiencing the biggest rise in both sales and home prices. The average home sale price in Toronto rose to $652,681 up from $599,215 last year. In Metro Vancouver, the average sale price of all homes is currently more than $624,000. This represents a 4.3 per cent increase compared to May 2013.
These prices are pushing the national average price to a record high, despite more balanced conditions in other markets…
2014 CMHC Mortgage Consumer Survey
– canadianmortgagetrends.com
CMHC’s Mortgage Consumer Survey is one of the best looks at mortgagor behaviour because, unlike most other industry surveys, it focuses only on recent borrowers. And those recent borrowers are telling Read More
Use your mortgage to pull debt together and save for retirement.
– canadamortgagenews.ca
Perhaps too much debt has made your monthly cash flow tight, putting you under some financial pressure and making it almost impossible to save for retirement. With the right plan in place, it may be possible to simplify your debt, reduce interest costs, and save for retirement, all without earning more or cutting your spending. […]
