Quebec City Mortgage Rates
The Best Mortgage Rates in Quebec
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Ranked #10 Best City To Live In Canada
Quebec City, with its winding cobblestoned streets and old world charm, is very reminiscent of old European cities. It's a beautiful place to visit, and for the 800,000 or so residents, a wonderful place to live. Here are some fast facts about Quebec City:
- Quebec City is the oldest French speaking community in North America – it celebrated its 400th anniversary in 2008
- Quebec City is the capital city of Quebec
- Quebec City is very predominantly French speaking – over 95% of residents speak the native language
- Quebec City is one of the most visited cities in the country, largely due to its various festivals; the largest of which being the Winter Carnival
- As the province's capital city, much of the cities' jobs are through the provincial government
5 Things You Need To Know About Buying In Quebec City
- The average home price in Quebec City is $278,000 - that's about $120,000 cheaper than the national average of $398,000
- As the provincial economy has strengthened throughout 2014, so has the demand for housing in Quebec City . However, inventory oversupply continues to weigh down prices
- Oversupply is most obvious in the condominium sector of the Quebec City market; there is just under 18 months' worth of inventory to sell
- For the first time since the economic crisis of 2008, home prices did not rise in 2014. This is expected to change in 2015.
- Overall, the Quebec City housing market is in a stable, favourable position as it is backed by an increasingly strong provincial economy
Frequently Asked Question: Do housing and mortgage regulations differ in Quebec from the rest of Canada?
The Canada Mortgage & Housing Corporation (CMHC) is in charge of implementing national housing policies and regulations. Since these are federal regulations, they do apply to Quebec. So while Quebec differs from the rest of Canada in many ways, housing and mortgage policy is regulated by the same entity. As is the same with any province, credit unions are governed provincially and will therefore vary throughout the country.
Quebec City Housing Statistics
Quebec City offers an affordable, beautiful place in which to live. With such a rich, vibrant culture, the city is an excellent destination for people of all walks of life. Plus, cost of living is reasonable, which is an added bonus if you're looking for an urban feel on a small town budget.
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Buying Property in Quebec City – Important Links
Knowledge is power when it comes to making the most of your money, and this old adage is especially true when talking about mortgages. RateSupermarket.ca recommends the following resources to get you started on your mortgage journey in Quebec City:
Get Quebec City regional housing statistics from the Canada Mortgage and Housing Corporation.
Ever wonder what everyday items will cost you in Quebec City? You can compare the cost of living around the world here.
Get all the information you need about Quebec City public transit on the Réseau de transport de la Capitale's website.
For many families, nearby schools are a big factor in home buying decisions. Learn more about le Commission scolaire Central Québec and school locations here.
Are you new to Canada? Quebec has a number of resources available to immigrants, aimed at providing a solid foundation for new Canadians.