Buying a home today really is less affordable than in decades past, a cross-generational consensus gathered by RateSupermarket.ca reveals.
Our Not Your Mother’s Mortgage survey finds only 46 per cent of today’s millennials (born between 1980 – 2000) are currently in the position to become owners in their region – 30 per cent fewer than non-millennials (born 1979 and earlier). Continue reading »
CMHC default insurance is mandatory for all home buyers paying less than 20 per cent on their home purchase. But are these mandatory premiums priced too high? A new petition is challenging the CMHC’s profit margins, arguing it’s time to give first time home buyers a break. Continue reading »
The Land Transfer Tax in Toronto was implemented in 2008, and can substantially add to a home buyer’s closing costs. While the tax reaps great income for the City of Toronto, is it fair for buyers to shell out extra in order to live within city limits? Continue reading »
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. Continue reading »
It appears housing markets across the country are feeling the brunt of recent CMHC mortgage changes, as sales saw a 5.8 per cent nation-wide dip from July to August. According to the Canadian Real Estate Association (CREA), this is the largest month-over-month decline since June 2010 Continue reading »
The Loonie is looking stronger than ever at $1.03 U.S., jumping in response to yesterday’s extreme American Federal Reserve stimulus announcement. Continue reading »