7 smart strategies for first-time home buyers + MORE Nov 19th

Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News

Residential Mortgage Credit Risk Has Risen “Only Modestly,” Says OSFI Nov 25th

The head of the agency charged with overseeing Canada's federally regulated lenders said today that residential mortgage credit risk has risen "only modestly.".... More »

The Sea Change in Canadian Mortgage Insurance + MORE Dec 2nd

Few realize how dramatically Canada’s mortgage insurance market has changed..... More »
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…

Continue Reading On moneysense.ca »

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 […]

Continue Reading On canadianmortgagetrends.com »

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. […]

Continue Reading On canadianmortgagetrends.com »

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