Mortgage Digest: Younger homeowners lead the way in paying down mortgage debt Jan 26th
B.C. home sales struggle in May as mortgage rates rise and labour market stays weak + MORE Jun 14th
Manulife’s Natasha Duric: A 30-year mortgage career built on leadership and innovation Oct 13th
How to grow your reverse mortgage business by partnering with realtors + MORE Jun 5th
TD returns to positive earnings, but mortgage stress grows + MORE Aug 29th
How much income do I need to qualify for a mortgage in Canada?
– moneysense.ca
According to the latest monthly affordability report from Ratehub.ca (Ratehub Inc. owns both Ratehub.ca and MoneySense), it became easier to qualify for a mortgage for the average-priced home in every market studied across Canada—a first since January. To show how borrowing conditions are evolving in real time, the calculations reveal the minimum annual income required to buy an average-priced home in some of Canada’s major cities based on month-over-month real estate data. The analysis is based on the average five-year fixed mortgage rate, as well as the resulting mortgage stress test, in addition to average home prices as reported by the Canadian Real Estate Association, for the month of July.
This latest edition (updated monthly, so bookmark this page) is impacted by the recent rate cuts from the BoC which are now making their way into consumer mortgage rates. The two quarter-point decreases made in June and July have cumulatively brought Canada’s benchmark cost of borrowing from 5% to 4…
CMHC says annual pace of housing starts in July up 16% from June
– canadianmortgagetrends.com
