We revisit the mortgage stress test and how it is affecting Canadian homebuyers.
More By Sean Cooper:
No matter your circumstance, an offer on a house is a legal contract. And by walking away from it, you could lose your initial deposit, or even be sued. But what if the appraisal value from your lender came in lower than expected? Or if your house is taking a long time to sell?
The Office of the Superintendent of Financial Institutions (OSFI) is proposing stricter rules on uninsured mortgages that could have an even more profound effect on the housing market. Will house prices decrease? Will there be less competition?
Facing rapidly rising home prices in the GTA, last month the Liberals introduced a 16-point plan to cool the red-hot real estate market. Ontario’s Fair Housing Plan includes a number of measures to address the escalation of home prices in…
Similar to a sweet dream, paying off a mortgage loan valued at hundreds of thousands of dollars is a goal that sometimes seems so out of reach. But it is possible. A little over a year ago…
High home prices got you down? Many people, particularly millennials, feel like the dream of homeownership is out of reach, especially in Toronto and Vancouver – Canada’s most expensive real estate markets. However, buying a home and being mortgage-free…
It’s been another banner year for real estate in the Greater Toronto Area. The average price for all property types sold in the GTA came in at $729,922 in 2016 – that’s an increase of 17.3 per cent from 2015.
Year after year, debt repayment is listed as the number one financial priority for Canadians heading into the new year. According to a new CIBC poll, 28 per cent of survey takers said paying down debt is their top financial goal in 2017.
It’s been a month since the first of the new federal mortgage rules came into effect. Now, RBC has become the second of the five big banks to raise mortgage rates – effective Thursday. How else have these new rules impacted our purchasing power?
It’s been one year since MoneyWise writer Sean Cooper reached his goal of being mortgage-free by the age of 30. How did he do it? Read on for his secrets and what he would do differently next time.