Broker Lic: 10733
First-Time Home Buyer Incentive now available The First-Time Home Buyer Incentive helps qualified first-time homebuyers reduce their monthly mortgage payments without adding to their financial burdens. The First-Time Home Buyer Incentive is a shared-equity mortgage with the Government of Canada. It offers: 5% or 10% for a first-time buyer’s purchase of a newly constructed home […]
Bank of Canada maintains overnight rate target at 1 ¾ per cent The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. Recent Canadian economic data are in line with the […]
Budget 2019 To help make homeownership more affordable for first-time home buyers, Budget 2019 introduces the First-Time Home Buyer Incentive. The Incentive would allow eligible first-time home buyers who have the minimum down payment for an insured mortgage to apply to finance a portion of their home purchase through a shared equity mortgage with Canada […]
Women of core working-age leading employment growth In 2018, employment increased by 163,000 or 0.9%. This pace of growth was slower compared with 2017 (+2.3%) and 2016 (+1.2%). Over the course of the year, the unemployment rate fell 0.2 percentage points to 5.6%—the lowest rate since comparable data became available in January 1976. Full-time employment […]
CREA Updates Resale Housing Market Forecast The new mortgage stress test announced last October had been expected to cause homebuyers to rush purchases in advance of the new rules coming into effect in January and for the “pull-forward” of sales activity to result in fewer transactions in the first half of 2018. Evidence suggests the […]
Government Policy is Hurting Affordability For years a headline story has been the increasing level of personal debt, which has now reached $1.70 for every dollar of disposable income. The latest numbers show that Canadians have $1.53 trillion in mortgage debt. For many rising mortgage rates will be a problem. In April, a MNP survey […]
With the new Office of the Superintendent of Financial Institutions stress test rules firmly in place since January, Canadian homebuyers have learned they need to arm themselves with practical information on how they can ensure they are “stress-test ready”. The following is a guide and best practices tool kit for those about to embark on […]
Mission Accomplished: The Fall of Real Estate Governments at all levels have been relentless in their efforts to reign in real estate – the top industry in 7 out of 10 provinces. Just think of how hard they’ve worked. In February 2016 the former Liberal government in BC increased the property purchase tax on homes […]
Now that Canada’s new mortgage stress test rules have been in place since January 1, arming home buyers with a best practices tool kit is in order. Introduced by the Office of the Superintendent of Financial Institutions (OFSI), the new stress test requires the qualifying rate for an uninsured mortgage to be the greater of […]
