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April 27th, 2022 A recent report from the Canadian Real Estate Association (CREA) revealed that two-thirds of the nation’s housing markets are slanted in favour of sellers. With supply failing to keep up with demand, this could be the top trend for the foreseeable future. For years, housing development has been tepid, resulting in supply falling short…
How will higher interest rates impact my mortgage? It’s a question more homebuyers and homeowners are asking, in the wake of the Bank of Canada’s recent interest rate hikes. We consider many variables in life before making any big decision, and one of the most important ones to think about when buying a home is the…
Buying a home for the first time is an exciting experience. While the process can be stressful at times, there are ways to limit unnecessary anxiety, and one of the most significant ways is to get pre-approved for a mortgage before you begin your house-hunting adventure. To put it simply, being pre-approved for a mortgage means that a lender…
Buying a home for the first time is an exciting experience. While the process can be stressful at times, there are ways to limit unnecessary anxiety, and one of the most significant ways is to get pre-approved for a mortgage before you begin your house-hunting adventure. To put it simply, being pre-approved for a mortgage means that a lender…
5 Reasons Why You Should Get Pre-Approved for a Mortgage Buying a home for the first time is an exciting experience. While the process can be stressful at times, there are ways to limit unnecessary anxiety, and one of the most significant ways is to get pre-approved for a mortgage before you begin your house-hunting adventure. To…
A mortgage pre-approval is an important first step in the home-buying process. Having a pre-approval in hand tells you how much you can spend on a home, and it locks in the current low interest rate for up to 120 days, so you can shop the market knowing you’re insulated from rate hikes in the near future. If the…
The Bank of Canada’s latest interest rate announcement has been trending since its last announcement six weeks ago – and for good reason. The big banks often follow the Bank of Canada’s lead when it comes to setting their interest rates for mortgages, home equity lines of credit and other loans. While the Bank didn’t…
T-minus 76 days and counting until Canada’s banking regulator launches its controversial mortgage stress test. It’ll be squarely aimed at people with heavier debt loads and at least 20 per cent equity – and it will be a tide turner. Given where Canada’s home prices and debt levels are at, this is easily the most…
Owning a home is a keystone of wealth… both financial affluence and emotional security.