In Canada, you need a minimum of 5% as a down payment when you purchase a home under $500,000. That means that on a home costing $500,000, you’d need at least $25,000 down. It’s not little! But between paying for rent and the cost of living, it can feel extremely difficult to save up that…
Our friends at RE/MAX have compiled a report predicting conditions for the Ottawa housing market in 2020. The general verdict is that sellers will benefit more than buyers! The average residential sale price is expected to rise by 6%, thanks to existing market momentum, despite the region experiencing greater market stability in the past. Higher…
The mortgage acquisition process for a new home is far from easy; even from the very first step. Many homebuyers simply don’t know what’s best for them, and whether they’ll even make it through the first phase, nevermind receive the loan. More often than not, mortgage brokers like us are there to help, but we…
This shorter read this week basically brings up the latest news in the national real estate market for October. On our social media feeds, we tend to share monthly reports solely for Ottawa, but that is not the case here! In a real estate market where Vancouver and especially Toronto are so dominant and expensive,…
To begin with, what does it all mean? Refinancing a mortgage means paying off an existing loan and replacing it with a new one. There are many reasons why homeowners refinance: 1) to obtain a lower interest rate 2) to shorten the term of their mortgage 3) to convert from a variable-rate mortgage to a fixed-rate mortgage…
It has now been three years since the stress test was implemented in Canada, which made it harder for first-time homebuyers to land the homes of their dreams. What this has now brought is a potential plan for a registry for private mortgage lenders that could shed light on a corner of the market that…
Just like almost every industry going into the new decade, things are changing a lot. It may be because of the economy, technology, or politics. This also includes the national and global real estate market. We are fortunate to have gathered information from PwC and the Canadian Press. New research has suggested the real estate…
As we may have all realized by now, Canada’s real estate market is a never ending discussion because of changes taking place and its financial unpredictability. There is the constant worry that prices will keep going up, and less and less families will be able to afford homes. This week, it’s a shorter read, but…
This week, we take a break from guest bloggers who have given excellent insight and shared great stories, to focus on more pertinent issues related to the current real estate market and economy. Most, if not all of the mortgage economy is based on interest rates, and this is what this week’s focus is going…
Wrapping up the end of the summer this week with yet another inspiring guest blog! This time, it’s Chris van Kasteren from London, ON. Growing up in a family of 6 in a local Lucan, ON farm, he was raised to treat future clients like family and keep a strong work ethic. ———– I grew…
