Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
Latest News
2023 mortgage market year in review Dec 31st
As we wrap up a year full of economic twists and turns—and interest rate ups and downs—we wanted to look back at some of the top mortgage-related stories that graced our pages in 2023..... More »
Mortgage Professionals Canada promotes broker expertise in newly launched campaign + MORE Oct 17th
Mortgage Professionals Canada (MPC) has unveiled a new national campaign emphasizing the pivotal role mortgage brokers play in guiding Canadians towards their homeownership dreams..... More »
OSFI unlikely to tweak the mortgage stress test tomorrow + MORE Dec 16th
Canada's banking regulator is set to announce the results of its annual review of the mortgage stress test's minimum qualifying rate on Thursday..... More »
Should you break your mortgage? + MORE Dec 20th
Joakim Tjernell was pretty proud of himself—he’d done a damn good job of shopping for a mortgage. It was back in June of 2009 and Tjernell, a translator in his 30s, had been eyeing units in a slick modern condo building on Toronto’s Bathurst Street for a while. There was a lot of paperwork—T.... More »
Making sense of the markets this week: June 9, 2024 + MORE Jun 8th
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
“The Big Cut”
While The Big Short film is a riveting watch, “The Big Cut” may be even more enthralling.&nbs.... More »
Is Now a Good Time to Buy Real Estate in Victoria?
– ratesupermarket.ca
Thinking about buying real estate in Victoria? While some might suggest waiting a year or two for housing prices to come down, now might be a good time to start looking. The quarterly report on Vancouver’s housing market indicates while prices are starting to come down, inventory is high. So, should buyers test the waters or wait and face stiffer competition?
The Decision to Buy or Wait
Based on the Canada Mortgage and Housing Corporation (CMHC), real estate prices have dropped by about seven to eight percent from last June.
“This housing market assessment is an early warning system for vulnerabilities in the housing market. The degree of imbalance between home prices and the local economy is narrower than it has been at any point in the last several years.” That’s from CMHC market analyst Eric Bond.
There’s Still Some Potential Risk
While house prices are coming down in Vancouver, house affordability hasn’t eased that much. In Victoria, to afford a house priced at $741,000 a potential home buyer would need to make $140,000…
