2024

Canadian home prices are expected to rise by around 1% in 2024 despite rate cuts. Home prices are forecast to grow modestly at 2.8% in 2025 and 3% in 2026....

In September 2024, Canada’s central bank cut the benchmark prime rate, easing borrowing costs for consumers. The rate cut directly benefits floating-rate borrowers, with significant reductions for insured variable mortgages....

A study shows younger Canadian homebuyers prioritize saving for a mortgage over other life milestones.78% of single, unmarried first-time homebuyers under 30 focus on mortgage savings rather than lavish weddings....

More than eight hectares of land in Nova Scotia is designated for affordable housing in Middle Sackville and Dartmouth under the "Land for Housing Program." This initiative aims to create 1,100 housing units, nearly half of which will be affordable. The Affordable Housing Association will develop 106 mixed-market units, including 42 affordable, while Metro Premier Properties plans over 300...

Reverse mortgages in Canada are regulated and less risky compared to those in the U.S. Seniors can access tax-free cash based on their home's value without monthly payments, repaying the loan upon selling the home or passing away. Key points include the need for independent legal advice, potential fees, and the requirement to maintain property taxes and insurance. While they offer flexibility and...

Easing Interest Rates: Interest rates are decreasing, boosting buyer confidence and market activity. Average home prices are projected to rise by 1% to 6% by the end of 2024....

Purpose of Financing: - Loans: Various needs, like cars or education - Mortgages: Specifically for Real Estate or home equityBorrowing Amounts & Terms: - Loans: $100s to $1000s; term varies - Mortgages: $1000s to Millions; up to 30 years...

The Bank of Canada’s two rate cuts haven’t yet sparked a significant increase in homebuyers. In July, national home sales declined, but more rate cuts may influence buyers to re-enter the market....

Homeowners and investors should understand the rules, financing options, and tax implications involved in purchasing a second property in Canada. Continue to full article...

Canada needs 10-yr and 4.2M new homes to restore housing affordability. An average of 300K homes must be built yearly until 2035 to make housing affordable for Canadians....