According to a new MPC report, the new mortgage stress test is leaving 18% of home buyers out of the market, though most can still afford to make monthly payments…
Effective Jan. 2018, all Canadians applying for a new mortgage will be subject to a stricter stress test to assess if they could still make mortgage payments in the event interest rates rise. The new guidelines will reduce how much you can afford…
The minimum home down payment has been increased to 10% from 5% on homes priced over $500,000. What does this mean for buyers? Read on to find out .
Good news for prospective home buyers and landlords: the CMHC has announced that 100% of profit from an income suite can be used toward your mortgage qualification, Previously, only 50% was allowed. Read on to see how this can affect your home financing.
The CMHC is the biggest provider of mortgage insurance in Canada, but recent efforts have focused on reducing their involvement with high-risk mortgages. The Crown Corporation reported $14-billion decline in insured mortgages in their 2014 annual report. Great news for taxpayers – but what does that mean for prospective borrowers?
Feel like you have less cash this month? You’re not alone – spending tends to heat up during the warm weather days – Canadians are out of hibernation and we’re ready to shop. Between hitting retailers, the open road and the open houses, it can be easy to go over budget as temperatures rise.
Prospective home owners may see their affordability shrink as another set of mortgage rules are slated to go into effect this summer. Here’s what buyers need to know.
The Conservative government has introduced a number of tax credits and measures to save tax payers billions. Here’s what’s new – and what it means for your money.
It’s a season of change for finances as new mortgage and credit card rules come into play. Here’s what you need to know, along with the week’s top headlines.
Attention home buyers: A new round of restrictions has been proposed for the insurers of high-ratio mortgages. Called OSFI B21, they could impact your ability to buy. Here’s what you need to know.