How much income do I need to qualify for a mortgage in Canada? + MORE Apr 18th

Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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Latest in Mortgage News: Financial experts see less risk of an imminent recession + MORE Apr 27th

A recent survey of financial experts reveals a shift in recession expectations, showing a decrease in the likelihood of an imminent economic downturn. However, there is growing uncertainty regarding the timing and degree of anticipated Bank of Canada interest rate cuts..... More »

CMHC exceeds 2023 housing goals despite economic headwinds May 12th

The Canada Mortgage and Housing Corporation surpassed its 2023 housing targets despite difficult economic conditions and internal financial struggles..... More »
 home equity

Preparing for the next wave of renewals: Manulife’s unique solutions + MORE Apr 24th

The mortgage industry is in the midst of a transition in Canada, and Manulife is ready to evolve with it..... More »
 mortgage penalties

Why are fertility treatments so expensive in Canada? + MORE May 15th

Being unable to have a child naturally can be extremely difficult. But when you factor in the high costs of fertility treatments, the range of individual circumstances and the fact that the industry itself is secretive about fees, it can make the whole ordeal even more devastating and hard to plan f.... More »
FSRA has revoked the licences of 29 brokers who did not appoint a principal broker, failed to file their 2021 Annual Information Return, or failed to do both.

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How much income do I need to qualify for a mortgage in Canada?Buying a home in Canada isn’t for the faint of heart—or light of wallet. Home prices have steadily trended higher over the past decade, coming to a national average of $698,520 in March 2024. That’s a 75% increase compared to January 2014, and it marks a whopping dollar difference of $398,119, according to the Canadian Real Estate Association (CREA). How much money do Canadians need to earn, on average, to afford a house?

Affordability conditions aren’t likely to improve anytime soon, despite the optimism that mortgage rates will stabilize; a monthly study conducted by Ratehub.ca reveals it has become increasingly tougher to afford a home since the start of the year. (Ratehub and MoneySense are both owned by Ratehub Inc.) The study gauges affordability by calculating the minimum annual income required to purchase the average-priced home in 13 of Canada’s major housing markets, based on real estate data, as well as average mortgage and stress test rates. It measures the trends in affordability on a month-to-month basis, as rates and home prices fluctuate…

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Canada Mortgage and Housing Corp. says the annual pace of housing starts in March declined seven per cent compared with February.

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Alternative mortgage provider Home Trust has entered into a merger agreement with unsecured lender Fairstone Bank, but what effect the deal has on customers and brokers remains unknown.

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