Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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This millennial making $110,000 helps her family with mortgage, groceries. Is it time to buy a place with her boyfriend? + MORE May 16th
‘Can we even afford anything in the GTA. Is it smart to buy?’ Leanne asked. ‘The market is insane.’.... More »
The latest in mortgage news: BoC rate hike expectations grow May 13th
The Big 6 banks have raised their expectations for Bank of Canada rate hikes, with most expecting another 125 to 150 basis points in tightening by the end of the year..... More »
Lenders hike fixed rates yet again, bringing them closer to 4.5%
– canadianmortgagetrends.com
Following a jump in bond yields last week, lenders across the country once again bumped up their fixed mortgage rates.
How to take advantage of the first home savings account
– moneysense.ca
In April, in response to Canada’s white-hot housing market, the federal government introduced the tax-free first home savings account (FHSA). The FHSA is a new kind of registered account aimed at easing the path of first-time home buyers to securing a mortgage at a time when average Canadian home prices sit at around $800,000. So, how exactly does this account work? More importantly, how can first-time home buyers leverage the FHSA to its fullest extent?
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Not all of the details surrounding FHSAs have been ironed out yet. The federal government plans to release more information in the near future, as it works with financial institutions to make the accounts available to the public next year. However, based on the info revealed in the 2022 budget, here’s what you need to know…
Home Capital saw Q1 net income fall 18%, with more headwinds ahead
– canadianmortgagetrends.com
Home Capital saw its net income fall nearly 18% due to rising deposit costs, while the full impacts of rate increases are yet to effect its mortgage originations.
