If you are recovering from a bad credit event, you should make every effort to restore some lustre to that damaged credit history.
As part of the 2019 Budget handed down yesterday, changes for prospective homeowners
The federal government is suggesting it’s going to tackle housing affordability issues, but it looks like many Canadians aren’t buying it.
Canadians have made their apprehension concerning the housing market known ahead of next week’s federal budget.
With Canada’s hottest housing markets cooler and the rock-bottom interest rates that fueled a household debt binge a thing of the past, some may wonder if the federal government’s mortgage stress testing is still needed.
It may be cold but the housing market in Winnipeg is heating up with two straight months of sales above their year-ago levels.
The Bank of Canada for some time has been suggesting higher and higher interest rates are coming soon — until this week.
Money and family can be a tricky combo to manage, especially when comes to one of life’s most expensive purchases — buying your first home.
The Bank of Canada is unlikely to increase interest rates next week according to a panel of leading economists, which has also commented on Canadian housing policy.
“The bottom line is that the Canadian government needs to find ways to support, even incentivize, homebuyers in Canada (especially first-timers who are facing challenges entering the market) rather than penalize them.”
A leading Canadian reverse mortgage lender says that today’s seniors are not ‘old’ and are pushing back against stereotypes.
As property values have soared, Canadians have been increasingly securing loans through home equity lines of credit, or HELOCS — which let borrowers tap into the value of their home even if they aren’t finished paying off a mortgage.
A home inspection is a visual examination of the property to determine the overall condition of the home. In the process, the inspector should be checking all major components (roofs, ceilings, walls, floors, foundations, crawl spaces, attics, retaining walls, etc.) and systems (electrical, heating, plumbing, drainage, exterior weather proofing, etc.).
Thanks to tighter mortgage qualification rules and higher-priced real estate—particularly in the greater Vancouver and Toronto areas—it’s not always easy to qualify for a mortgage on your own merits.
A growing portion of Canadian households are finding it harder to service their assortment of debts, according to new data from Statistics Canada’s latest Survey of Financial Security.
Today, about 50% of first-time home buyers use their RRSP savings to help finance a down payment. If you are a first-time homebuyer, the Home Buyers Plan (HBP) allows you to withdraw money from your Registered Retirement Savings Plan (RRSP) tax-free to make your down payment.
Criticism is piling up for the federal government’s First-Time Home Buyer Incentive, set to kick off this September.
The post Is Canada’s First-Time Home Buyer incentive a ‘bridge to nowhere’? appeared first on Livabl .
The stress tests most mortgage applicants in Canada face are defective — but rather than scrapping them, policymakers should make changes.
Canadian construction costs are rising, and that has contributed to home price increases as developers build in growing expenses to their pricing models.
The moderation of Canada’s housing market means reduced revenue for the Canada Mortgage and Housing Corporation.
A rush of homeowners are going to renew mortgages next year and when they do, they’ll most likely be faced with higher interest rates than when they signed on last. Will they be able to keep up with payments?
A minimum down payment of 5% is required to purchase a home, subject to certain price restrictions for homes purchased above $500,000 and 1 million.
The Bank of Canada isn’t budging on its policy rate, at least at the moment, and that’s good news for borrowers.
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