A new chapter has begun in the Canadian real estate industry, with the government banning non-Canadians from buying property across the nation, to help cool off housing prices from East to West. However, certain exceptions and conditions apply… Canada’s foreign buyer ban will allow some exceptions for international students, temporary residents, and refugees, the Canada…
Canadian banks are trying to ease the burden on homeowners who can’t keep up with the rapid rise in interest rates by extending mortgage amortizations and, in some cases, adding unpaid amounts onto the loan principal, tools that can stave off default in the short term but that may come with longer-term consequences. After hiking…
Most mortgages need to be renewed at least once before they’re eventually paid off. Unless you have the cash to pay off your balance in your first mortgage term, you’re likely part of the roughly 66% of Canadian homeowners who carry a mortgage and must renew it at the end of their term. A mortgage renewal is simply…
Canadians have many different reasons to hunt for a second property. Some want the source of income that an investment property can provide; others want to secure housing for a child during post-secondary education. There are those who simply want a rural retreat, like a country home or cottage. Whatever the reason, there are in fact many multiple-property owners in Canada. In British…
While market activity has gone down significantly in recent months, several factors will act in concert to prevent an all-out housing crash, market observers argue. Chief among these trends is the inbound flow of new residents, which is expected to accelerate as borders continue to reopen and pandemic restrictions ease. New targets from the federal…
The Bank of Canada is ending one of its emergency measures to stimulate the COVID-19 economy, leading to speculation that the era of record-low mortgage rates could be ending, too. What’s more likely, mortgage experts say, is that the central bank’s decision to stop buying Canada Mortgage Bonds on Oct. 26 will usher in a…
We hope your spirits are still up during this trying time – and certainly making the most out of staying at home and getting to know the contents inside those four walls better than you ever have! We believe this phase is a good time to clean up and fix anything you are able to…
Mortgage can bring a hurricane of questions and troubles for home buyers. The Globe and Mail recently put up the question of “Should you get pre-approved for a mortgage?” Let’s break everything down and take a look. You’ll get an idea about the price range you should aim for during your househunting. By knowing how…
