What does 2013 hold for the Canadian mortgage market? Will softening prices create an accessible market, or is affordability to remain out of reach for many would-be buyers?
The saga of the Trump Tower investors are heating up the headlines – but how does this relate to you average condo buyer? Misleading sales tactics, backed up builder schedules and unpredictable fees can all cause mortgage financing problems. Read our checklist of the top condo buying pitfalls.
A poll conducted by Reuters on the mortgage and housing market shows we may be in for a 10% decline – but that the downward activity will be healthy economic activity.
The good news is that more Canadians are debt-free and the average debt load of those living in debt hasn’t really increased over the last year. There seems to be a little more anxiety felt by those in debt and 51 per cent of respondents have prioritized paying down their debt over saving and investing in their future.
It’s been a week of updates from the real estate boards of Toronto and Vancouver. Let’s take a look at the current conditions in Canada’s two largest markets, which may be a good indicator of where Canada’s market (and mortgage rates) are headed.