Bloom unveils new home equity prepaid Mastercard as novel way for seniors to fund retirement + MORE Mar 16th

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.

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CMHC reports annual pace of housing starts in April up from March May 18th

Canada Mortgage and Housing Corp. says the annual pace of housing starts for April rose 17% compared with March..... More »

Canada’s inflation rate falls to 2.5%, paving way for another interest rate cut + MORE Aug 23rd

Canada’s annual inflation rate fell to 2.5% last month, matching economists’ forecasts and solidifying expectations for a third consecutive interest rate cut in September. Tuesday’s consumer price index report says prices for travel tours, passenger vehicles and electricity helped drive the.... More »

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How to keep your home after separation—even if you don’t qualify alone + MORE Apr 18th

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February housing starts increased 14% from January: Canada Mortgage and Housing Corp

– canadianmortgagetrends.com

The pace of home construction rose in February as builders started on more apartments and condos, but the industry continues to struggle under cost pressures.

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It’s possible to be a first-time home buyer twice—here’s how

– moneysense.ca

Can you do something and then later do it again for the first time? You can if that “first time” involves buying a home.

There are a few supports and programs in place for first-time buyers in Canada, including the Home Buyers’ Plan and the first home savings account (FHSA). (Canadians previously had access to the First Time Home Buyer Incentive, another federal government initiative, but that program will end on March 21, 2024). First-time home buyers may also be eligible for land transfer tax rebates.

Chances are, if you’ve used one of these incentives in the past, you won’t need to a second time. However, there are a variety of reasons you may want to participate in a first-time home buyer program again—and you might just qualify.

“It truly depends on the program,” says Denise Laframboise, a mortgage broker with LaframboiseMortgage.ca in Brooklin, Ont. “Each program has its own criteria for [qualifying as a] first-time home buyer. It isn’t a one-size-fits-all across every program and every provincial or municipal incentive…

Continue Reading On moneysense.ca »