CMHC reports September pace for housing starts up from August + MORE Oct 19th

Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
 property

The bond risk many investors overlook Jul 5th

When you buy a bond, there’s a chance the borrower might not be able to pay you back, but bonds also carry a different kind of risk. Duration, or interest rate risk, is related to a bond’s sensitivity to changes in interest rates.  When interest rates go up, you won’t be able .... More »
 property mortgage

Mortgage Digest: Bond yields whipsaw, but fixed rates still have room to fall + MORE Apr 12th

Canadian bond yields have swung sharply in recent weeks, adding uncertainty to the outlook for fixed mortgage rates..... More »
 property mortgage

What’s better for buying a second home: HELOC or personal loan?  + MORE Aug 8th

Ask MoneySense I am considering taking out a HELOC loan to buy another property. Is this a wise decision, or would a loan be better? My bank advises me that I can qualify for a $400,000 HELOC. –Caren When buying a second property, Canadians can choose from a number of financing options, inc.... More »
 home loans

Invest or pay off debt: A comprehensive guide for Canadians + MORE Jan 17th

Your net worth is calculated by taking your assets and subtracting your liabilities. Both investing and repaying debt can boost your net worth as a result. The question is: which is better? In our guide about paying off debt versus investing, we cover the options from a number of different perspecti.... More »
 mortgage buyout

An inside look at how your loans — and spending — affect your credit score Apr 6th

Having a variety of loans could help strengthen your credit score — or harm it, depending on your spending and payment history. But a credit card, car loan and mortgage work differently, making it hard to know how to improve your number..... More »
Canada Mortgage and Housing Corp. says the annual pace of housing starts in September was up 5% compared with August.

Continue Reading On canadianmortgagetrends.com »

With mortgage renewal fears easing, RBC warns that a weakening job market could be the bigger threat to Canada’s economy

Continue Reading On canadianmortgagetrends.com »

Industry professionals express cautious optimism but call for more clarity on the program’s specifics

Continue Reading On canadianmortgagetrends.com »

After what has been a sluggish summer, home buying demand started to pick back up in September—and lower mortgage rates are largely the cause.

A total of three rate cuts passed down from the Bank of Canada since June have cumulatively lowered the cost of borrowing for Canadians by 75 basis points, from 5% to 4.25%, offering home buyers some much-needed relief in terms of affordability.

This is according to the latest affordability report compiled by Ratehub.ca, which crunches the minimum annual income required to buy an average home in some of Canada’s major cities. (Ratehub Inc. owns both Ratehub.ca and MoneySense.) The report is based on September 2024 and August 2024 real estate data reported by the Canadian Real Estate Association (CREA). It illustrates how changing mortgage rates, stress test rates and real estate prices are impacting the income needed to buy a home. 

The September edition (updated monthly, so bookmark this page) shows the required income lowered in 11 of the 13 housing markets studied, as the average five-year fixed mortgage rate dropped to 5…

Continue Reading On moneysense.ca »

Share

PinIt
Compare insurance quotes through Kanetix.ca - save time and money!