The Canadian Real Estate Association (CREA) announced today that national home sales dipped in April 2024 from its prior month, as the number of properties available for sale rose sharply to kick off the spring housing market. Home sales activity recorded over Canadian MLS® Systems fell 1.7% between March and April 2024, a little […]

One of the important factors in home ownership is understanding things like your credit score.  Some people don’t pay much attention to this metric until they begin the mortgage discussion! However, you will find that your credit score is one of the most important factors when it comes to qualifying for a mortgage at the […]

There was little fanfare earlier this year as financial institutions started making the new First Home Savings Account (FHSA) available to their clients. But now that the product is better understood, it’s being hailed by some as “the greatest deal in the history of Canadian savings.” At least that’s according to David Chilton, the bestselling […]

Looking back at 2023, Canadian mortgage holders faced challenges due to rising interest rates, following increases in 2022. In 2023, three more rate hikes occurred, affecting variable-rate borrowers and those renewing mortgages. About 40% of mortgage holders already renewed at higher rates, and a significant renewal challenge is expected in 2024 and 2025, with $251 […]

Mortgage fraud poses a persistent challenge within the real estate industry, frequently ensnaring unsuspecting homeowners. The issue has grown more pronounced as lenders intensify their scrutiny to combat fraudulent practices. This report explores the repercussions of heightened lender audits on homeowners. During the second quarter of 2023, there was a 54% increase in falsified financial […]

If you aspire to lead a financially peaceful and stress-free life, consider this message: “By removing direct involvement with traditional banks, you can achieve a more streamlined financial journey. Entrust your banking needs, especially when it comes to securing your dream home through an ideal mortgage, to a knowledgeable Mortgage Broker. Their expertise lies in […]

BREAKING NEWS: A 40-Year Mortgage Amortization Option Arriving This Month! Get ready for a game-changing development in the mortgage world! In just a few weeks, one of the leading banks will introduce an exciting 40-year mortgage amortization option, designed to cater to your unique payment preferences. This innovative offering will provide you with the flexibility […]

Mortgage Switch and Refinancing are two different options that homeowners can consider when they want to make changes to their existing mortgage arrangements. They serve different purposes and have distinct characteristics: Mortgage Switch: A mortgage switch refers to the process of moving your existing mortgage to a new mortgage product or lender, typically at the […]

Housing markets across the country continued to lose steam in August following the latest Bank of Canada rate hikes in June and July. Everywhere outside of Alberta and parts of Atlantic Canada, that is. While existing national home sales (seasonally adjusted) were down 4.1% in the month, they do remain up 5.3% compared to last […]

Slower growth and rising mortgage rates are going to keep putting the brakes on the housing market and the economy as a whole    Canada Mortgage and Housing Corporation (CMHC) think home prices will hit the rock bottom this year-but it’s important to note, they are not going to dip below the prices we saw […]