Canadians expect to be mortgage-free later than previously thought

A new survey says Canadians, on average, expect to be mortgage-free by age 58, one year later than in a similar poll a year ago. But the survey, conducted for CIBC by Angus Reid, found some big discrepancies across the country. For example, homeowners in British Columbia thought they wouldn’t be able to pay off […]

Nine ways to power-save your way to a down payment- ask a Vancouver mortgage broker

The question that comes up more and more in the country’s expensive housing markets is: Where are first-time buyers getting the money? Parental help is a big factor, so much so that the federal agency Canada Mortgage and Housing Corp. has launched a study of the phenomenon. Also, it’s virtually a given that today’s buyers […]

Freedom 58? How Canadians are shaving thousands off the cost of their mortgage

TORONTO — A new survey says Canadians, on average, expect to be mortgage-free by age 58, one year later than in a similar poll a year ago. How this man plans to be mortgage free by age 31 This 29-year-old pension analyst is $130,000 away from paying off his $425,000 home in Toronto, without money […]

Canada’s top court declines to hear Toronto realtor case appeal

Canada’s top court said it won’t hear an appeal of a case on whether Toronto’s main realtor group must give wider access to their historical price data. The Ottawa-based Supreme Court published the decision on its website Thursday. The Toronto Real Estate Board blocks its 35,000 members from publishing sale prices on their internal websites, […]

Sharp rebound in buyer confidence fuels Toronto condo recovery, says Urbanation

The country’s largest condominium market has fully recovered and is breaking new ground, according to a Toronto research firm. Urbanation Inc. says during the second quarter Toronto passed a new milestone with more than 100,000 condo dwellings in active development in the census metropolitan area. Of the 105,027 units in the pre-construction, under construction and […]

Condo glass panels may look great, but you’ll pay more for heat and AC

Printed with permission from Dan Barnabic, author of the Condo Bible for Canadians. “What does the future hold for condos and how long will they last?” These are by far the questions I am asked most often by condo buyers and owners alike. Life Span of Condo Building Components Condo buildings consist of thousands of […]

Mortgages & Investment Strategy – Consult with a Vancouver Mortgage Broker

STEVE HUEBL For most home buyers, a mortgage is the only path to ownership. But a recent survey reveals that mortgages are also being used as a preferred investment strategy for wealthy Canadians. The survey commissioned by Investors Group found that 67% of high-net-worth Canadians — those with investable assets of $500,000 or more — who have […]

Lenders Worries – Consult with a Vancouver Mortgage Broker

Not many lenders go on record forecasting a housing bubble, but what they say in private surveys is another matter. FICO, a consumer analytics firm, released poll results on Tuesday that show just how concerned lenders are about housing overvaluation. But its data, which was picked up by multiple media outlets, featured responses primarily from […]

Canadian home sales rise 0.8% to highest level in four years – Ask a Vancouver Mortgage Broker

Canadian existing home sales in June reached their highest monthly level in more than four years as prices continued to rise in some of the country’s hotter markets. But the housing market is becoming an increasingly local story with the disparity between hot and cold markets growing across Canada, something the Canadian Real Estate Association […]

Mortgage rules may be tighter for the self-employed, but options remain – Consult with a Vancouver Mortgage Broker

If you are self-employed, live in a rural area or don’t have the best credit, you may find it increasingly difficult to get a mortgage. Yet while tighter lending rules are making it harder for some people get approved by a bank, going to a second or third-tier lender isn’t something everyone is comfortable with. […]

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