Create a budget by listing income sources, tracking spending, and identifying non-essential expenses to reduce. Set financial goals by researching housing markets, breaking down savings into monthly or yearly targets....
Interest rates are dropping, making refinancing a mortgage appealing for those with high rates. Breaking a mortgage incurs penalties, typically based on three months’ interest or the Interest Rate Differential....
Understanding various types of mortgages and their features can help new Canadians make informed decisions to achieve their financial goals. Continue to full article...
Discover the endless possibilities at 659 Lucasville Road! This spacious bungalow is ideal for those seeking extra room or wanting to accommodate loved ones with accessibility needs. Zoned MU-1, the property provides incredible flexibility forboth residential and business ventures. With a versatile layout, it?s perfect for setting up a daycare, long-term...
Renewing your mortgage can be stress-free and money-saving. Tips include starting early, exploring different lenders, understanding your current mortgage, researching rates, considering future financial goals, and negotiating for the best deal. Knowing fixed vs. variable rates, stress test requirements, and prepayment options are crucial. Short-term options, lump sum payments, and professional guidance...
Average home prices are expected to rise by 4.4%, with the national average reaching $713,375.Alberta is projected to see strong growth, with a 6.8% increase in prices and 2.7% in sales....
Canadian home sales rose by 1.9% in Late-Q3 2024, marking three consecutive months of growth. Forecasts predict a 6.6% increase in home sales and a 4.4% rise in prices for 2025....
Sales Growth: Home resales in Canada are projected to rise by nearly 8% in Q1 and 4% in Q2, driven by falling mortgage rates. Price Increases: Home prices are expected to grow about 3% in Q1 and an additional 2% in Q2, as demand intensifies....
Over a million Canadian homeowners will face higher interest rates when renewing their mortgages in 2025, as many initially secured loans at rates below 1%. About 1.2 million fixed-rate mortgages are due for renewal, potentially increasing housing market listings as financially stressed homeowners sell. Rising mortgage defaults and foreclosures are evident, with delinquency rates for single-family homes...
Canadian homeowners are demonstrating resilience amid rising interest rates, with lower credit defaults compared to renters, although mortgage defaults are beginning to rise. The Canada Mortgage and Housing Corporation (CMHC) anticipates that this ability to meet mortgage payments will be crucial over the next two years as homeowners face economic uncertainty during mortgage renewals. An analysis...