2022 Budget: Housing Initiatives
Thursday’s federal budget outlined measures to address housing affordability, although it’s unlikely to assist first-time homebuyers, especially given the current market conditions.
April 8, 2022
Category: Purchasing
Average Home Price A Whopping $816,720.00
The value of Canadian real estate increased again in February, with the average home price selling at $816,720. That figure is up 51% compared to pre-pandemic markets.
March 16, 2022
Home Price making Records in December
As of December, The Canadian Real Estate Association’s House Price Index was up 26% year-over-year, setting a new record.
January 18, 2022
CMHC told to Review Investment Property Down Payments
The federal government considers reforms to residential investment or commercial properties to curb house prices.
January 13, 2022
Equifax Reports Average New Mortgage Size Surges 18%
Equifax reports that borrowers, on average, are taking out mortgages to the tune of $360,000 as of the 3rd quarter.
December 2, 2021
Bank of Canada: Rate Hikes Could Come Later Than Expected
Financial markets look at pricing in the first rate increase coming March. However, they may be off on the timing.
November 19, 2021
Time Needed To Save For A Down Payment Increases
Even before fixed mortgage rates started rising last month, housing affordability continued to deteriorate in the third quarter, the National Bank of Canada …
November 10, 2021
House Price Growth Has “Hit A Ceiling,” Says Moody’S
Canada’s housing market is showing signs of “returning to earth,” with slower price growth expected for much of 2022, according to a new report from Moody’s …
November 2, 2021
How A Mortgage Pre-Approval Can Protect You From Rising Rates
Over the past month, we have seen several fixed mortgage rate hikes from the banks and other lenders.
Whereas rates below 2% were readily available one month ago…
November 1, 2021
Parents To The Rescue: Average Size Of Gifted Down Payments Rises To $82,000
As home prices have risen sharply in recent years, so too has the amount of down payment assistance parents are willing to give their kids.
For those parent…
October 26, 2021