Pros and cons of the new federal secondary suite programs Oct 28th
Recognizing leaders in Canadian mortgages: New inductees join the Hall of Fame + MORE Nov 3rd
Mortgage reforms alone won’t solve housing crisis, says Mortgage Professionals Canada CEO + MORE Oct 25th
Mortgage Digest: MPC National Conference edition + MORE Oct 31st
CMHC reports September pace for housing starts up from August
– canadianmortgagetrends.com
Canada’s job market poses a bigger risk than mortgage renewals: RBC
– canadianmortgagetrends.com
Mortgage industry weighs in on federal secondary suite refinance program
– canadianmortgagetrends.com
Why are mortgages so expensive in Canada?
– moneysense.ca
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…