Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
CMHC reports annual pace of housing starts up eight per cent in October Nov 18th
Canada Mortgage and Housing Corp. says the annual pace of housing starts in October rose eight per cent compared with September..... More »
Five-year prison terms handed to Fortress founders in mortgage fraud case Feb 22nd
The decision marks a significant enforcement outcome in a case that helped reshape scrutiny of Ontario’s syndicated mortgage market..... More »
TD returns to positive earnings, but mortgage stress grows + MORE Aug 29th
TD Bank returned to profit in the third quarter after a loss in Q2 tied to U.S. regulatory and restructuring charges, even as rising mortgage delinquencies pointed to mounting household strain..... More »
How much income do I need to qualify for a mortgage in Canada? + MORE Apr 18th
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,.... More »
Mortgage approvals in hours, not days: TD leaning on AI to regain edge Oct 1st
At its 2025 Investor Day, the bank outlined plans to use AI to cut turnaround times, reshape branches into advice hubs and deliver billions in efficiency savings..... More »
Latest in mortgage news: nesto gains access to broker channel in exclusive deal with M3 Group
– canadianmortgagetrends.com
Digital mortgage lender nesto this week announced an agreement with M3 Group that will allow it to start distributing mortgages through the broker channel.
Under-35 households lead the way in reducing mortgage debt, StatCan reports
– canadianmortgagetrends.com
Canada’s youngest demographic of homeowners is the only group to have reduced their mortgage debt since rates started rising in 2022.
Many Canadians bought pre-construction homes and condos at the height of the real estate market, as ultra-low interest rates fuelled a steady climb in Canadian real estate prices. Now some of those buyers are walking away from their purchases, unable to close on properties worth less than they paid for them. These buyers risk losing deposits worth $100,000 or more—sometimes, much more.
What are your options if you find yourself in this situation? Let’s look at the intricacies of buying a pre-construction home in Canada, why some buyers are having difficulty closing on their purchases, and steps you can take to avoid losing a large deposit.
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How does buying a pre-construction home work in Canada?
Generally, pre-construction homes offer several key benefits…
