The sun is out as we are entering into the infamous spring housing market (might be dulled right now as many buyers sit on the sidelines waiting), the seasonal question of this spring market is that of interest rates. Many would-be homebuyers anxiously wait for the rate declines that many anticipate are coming either this [...]
2024 might just be the year that many Canadians buy a home — nearly one in five to be precise — as a recent survey on Canadians’ homebuying plans from Wahi finds. The survey also notes that those under 35 have the strongest intentions and that many plan to sacrifice things in their lives to [...]
This seems to be the biggest question I get these days. Some think that house prices will magically drop 20-40% in the next year or so. Some think that interest rates will drop over the same period and it will cheaper to get into their own home when that happens. Some dont believe that rents [...]
Wondering how the rate increases (and subsequent stress test increase) would impact your ability to qualify for a mortgage? Suppose your household income is $120,000, you have good credit and you want to buy a condo in a major urban centre. Let’s say the property taxes are $2,400 and the condo maintenance/strata fees are $360 [...]
Mortgage shoppers take note: Cheap money is here to stay, at least for the next two years, the Bank of Canada reaffirmed during its interest rate decision on Wednesday. The BoC had previously provided guidance that rates would remain at their effective lower bound—currently 0.25%—“until 2 percent inflation target is sustainably achieved,” but went a [...]
