May 18, 2022

2022 Budget: Housing Initiatives

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. 

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BREAKING NEWS

Average Home Price A Whopping $816,720.00

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.

Everybody Loves Variable Mortgages, Until the First BOC Rate Hike.jpg

Variable Rates, Call or Fold?

Borrowers’ confidence in variable/adjustable-rate mortgages will be a conversation they’ll likely have with their broker, as the Bank of Canada’s overnight target rate begins its climb upwards, maybe as early as this week.

Everybody Loves Variable Mortgages, Until the First BOC Rate Hike.jpg

Variable Rates, Call or Fold?

Borrowers’ confidence in variable/adjustable-rate mortgages will be a conversation they’ll likely have with their broker, as the Bank of Canada’s overnight target rate begins its climb upwards, maybe as early as this week.

Read More »

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Average resale hits all-time high in Canada

Average resale hits all-time high in Canada

Home prices in Canada increased past 25% in November compared to November 2020. The record year-over-year high results from low supply and continuing low-interest rates.

Bank of Canada Preview: Omicron Throws Rate Hike Forecasts into Question.jpg

Omicron Throws Rate Hike Forecasts into Question

While markets are expecting the first Bank of Canada rate increase in early 2022, some financial experts think the unpredictability of the brand-new Omicron Covid-19 variant might delay early hikes. 

Despite “Exuberant” Canadian Real Estate, Credit Risk Has Risen Only Slightly: OSFI.jpg

OSFI: Credit Risk Has Risen But Only Slightly

Today, the company’s head charged with managing Canada’s federally controlled lending institutions stated that the threat to mortgage credit has increased “just decently.”

Housing Market Risks are Easing: RBC

Housing Market Risks are Easing: RBC

After reaching overheated territory earlier this year, risks to the country’s housing market are now easing as prices and activity moderate…