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TagCanada mortgage news

Interest Rates to Stay As-is for Now. But When Will They Rise Again?

The Bank of Canada governor, Till Macklem, made no change to interest rates on April 21st, the 3rd of 8 annual meetings dates. This comes as no surprise, though, There wasn’t a chance of an interest rate hike anyway. You can read more on this here .

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No Conditions with an Offer… Is This the New Normal?

The real estate market is more active and more competitive than any time in history. The results? Pure chaos.

It used to be normal for people to insert a few conditions when making an offer to purchase a home. The standard conditions used to be along the lines of obtaining satisfactory financing within 5 to 10 business days and obtaining a satisfactory home inspection. The lender would go through an in depth underwriting process, then verify income, down payment, credit, and finally the property would get reviewed and appraised to ensure it meets the lender’s criteria and lending value. 

Continue reading “No Conditions with an Offer… Is This the New Normal?”

Is it cheaper to rent or buy?

So many pessimistic reporters here have been telling Canadians it’s better to rent than own. Well, those people have been really quiet over the past few years given that rents have really taken off and housing prices have skyrocketed, leaving those that had purchased in a great equity position.Those that listened to the media “experts” have nothing to show except for record high rents and landlords that want to evict them because market rents have gone up by about 30% over the past 5 yrs.  

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new mortgage program in Canada

A “big six” bank announces a new program to help Canadians with their home financing needs

It is about time for some good news to be shared regarding the housing market and the mortgage industry. Luckily, one bank has stepped in to help make that happen. The bank has launched a new program that aims to help Canadians with financing a home. Great, right? I sure think so. 

Let’s look at some of the highlights the program has to offer.

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