Housing starts up in six largest cities but construction still not closing supply gap + MORE Sep 28th
TMG The Mortgage Group announces strategic partnership with Mortgage Outlet Sep 10th
TD Bank sees mortgage volumes rise 7% in Q2, gains market share May 27th
Mortgage arrears have yet to peak, but unlikely to reach long-term norm: BMO + MORE Aug 1st
First National sees Q2 drop in single-family originations, but mortgage portfolio expands + MORE Aug 14th
How to save money on home renovations (even if you’re not handy)
– moneysense.ca
You’re 2 minutes away from getting the best mortgage rates in CanadaAnswer a few quick questions to get a personalized rate quote*I’m buying a homeI’m renewing/refinancingYou will be leaving MoneySense. Just close the tab to return.
After speaking to several contractors and having floor plans drawn up by an interior designer, we were told to budget approximately $90,000 for the renovation. While we knew our project list was substantial—a full kitchen, bedroom, ensuite bathroom, living room, laundry facilities and storage closets—that large number was still hard to swallow…
How much income do I need to qualify for a mortgage in Canada?
– moneysense.ca
The national average home price came in at a hefty $703,446 in April, according to the Canadian Real Estate Association (CREA). While that marks a slight 1.7% dip from the same time period last year, it means today’s home buyers are shelling out $200,000 more to buy an average-priced home than they would have five years ago.
The short-term affordability picture isn’t looking any rosier. The latest monthly affordability study from Ratehub.ca finds that borrowing conditions got tougher in 10 out of 13 of Canada’s major housing markets in April, largely due to month-over-month growth in home prices. (Ratehub and MoneySense are both owned by Ratehub Inc.)
The study determines affordability based on the minimum income required to buy an average-priced home based on regional real estate data, as well as mortgage and stress test rates…