Category: Home Buyers

First-Time Homebuyer Incentive Terminated

First-Time Homebuyer Incentive Terminated

The initial promise of the first-time homebuyer incentive seemed like a beacon of hope for many prospective homebuyers grappling with the challenge of saving up for a down payment. Regrettably, the program’s execution left much to be desired, resulting in suboptimal outcomes for the majority of applicants.

Mortgage Porting Bring Your Mortgage With You

Mortgage Porting: Bring Your Mortgage With You

Suppose you are committed to a five-year mortgage term with two years left until renewal. However, recent changes in your life, such as a new job offer requiring relocation or the need for more space due to a growing family, necessitate an early exit from your mortgage. While one option involves breaking the mortgage and incurring a pre-penalty fee, there may be an alternative: mortgage porting.

Real Estate Upswing in December

Real Estate Upswing in December

After an uneventful November and the tension of a cooling year-end market, the national real estate figures for December have defied expectations. A surprising upswing of 8.7% monthly compared to November, with 38,135 property transactions. On an annual basis, sales activity saw a 3.7% increase.

2023 Housing and Mortgage Market Review

2023 Housing and Mortgage Market Review

In October, Canada’s inflation rate dipped to 3.1%, slightly below the expected 3.2%, primarily due to a 6% monthly drop in gasoline prices. The economic landscape reveals sluggish GDP growth, a rising unemployment rate, and a likelihood of the Bank of Canada pausing interest rate hikes until April 2024, followed by a potential 75 basis points reduction by the end of the following year.

First-Time Homebuyer Incentive Terminated

First-Time Homebuyer Incentive Terminated

The initial promise of the first-time homebuyer incentive seemed like a beacon of hope for many prospective homebuyers grappling with the challenge of saving up for a down payment. Regrettably, the program’s execution left much to be desired, resulting in suboptimal outcomes for the majority of applicants.

READ MORE
Mortgage Porting Bring Your Mortgage With You

Mortgage Porting: Bring Your Mortgage With You

Suppose you are committed to a five-year mortgage term with two years left until renewal. However, recent changes in your life, such as a new job offer requiring relocation or the need for more space due to a growing family, necessitate an early exit from your mortgage. While one option involves breaking the mortgage and incurring a pre-penalty fee, there may be an alternative: mortgage porting.

READ MORE
Real Estate Upswing in December

Real Estate Upswing in December

After an uneventful November and the tension of a cooling year-end market, the national real estate figures for December have defied expectations. A surprising upswing of 8.7% monthly compared to November, with 38,135 property transactions. On an annual basis, sales activity saw a 3.7% increase.

READ MORE
2023 Housing and Mortgage Market Review

2023 Housing and Mortgage Market Review

In October, Canada’s inflation rate dipped to 3.1%, slightly below the expected 3.2%, primarily due to a 6% monthly drop in gasoline prices. The economic landscape reveals sluggish GDP growth, a rising unemployment rate, and a likelihood of the Bank of Canada pausing interest rate hikes until April 2024, followed by a potential 75 basis points reduction by the end of the following year.

READ MORE

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