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Friday, April 14th, 2017

Advice for Single Homebuyers

Advice for Single Homebuyers More than a third of first-time homebuyers in Canada are single. If you’re thinking of joining this group, here’s what you need to do and know before jumping into homeownership. Study the market. Identify neighbourhoods you want to live in and check to see how much properties in that area are […]

5 COMMON MISTAKES TO AVOID WHEN SHOPPING FOR A MORTGAGE

5 COMMON MISTAKES TO AVOID WHEN SHOPPING FOR A MORTGAGE 5 Common Mistakes To Avoid When Shopping For a MortgageAvoid these 5 common mistakes, and you will have no problem getting your mortgage faster, more efficiently, and with a clear understanding of the process: 1. Thinking banks are the first and best place to go […]

Mortgage rate drop means housing more affordable RBC study finds Vancouver and Toronto still the least affordable

Housing across Canada became more affordable in the second quarter of this year because mortgage rates dropped, according to a report from RBC. Even with prices moving higher, homes became more affordable in nearly every market across Canada, according to RBC’s Housing Trends and Affordability Report. The least affordable markets were Toronto and Vancouver, where […]

Pockets of risk in Canada’s condo market but don’t expect a crash, Conference Board report says

Pockets of risk continue to exist in the condominium markets of Toronto and Vancouver, but a broad-based downturn is unlikely, according to the latest Conference Board of Canada condo report commissioned by Genworth Canada. Genworth is the largest private mortgage insurer in Canada. Toronto’s condo market is expected to “cool slightly but avoid the collapse […]

Can you afford a home in these cities? – Ask a Vancouver Mortgage Broker

Housing affordability is a national disaster that begs further investigation. The average national resale home price in May: $416,584. The annual gross income needed to afford that price based on a 5-per-cent down payment and a five-year mortgage: $89,363. The estimated median family employment income: $68,692. In that $20,671 shortfall is the considerably, but not […]

How to determine if you are ‘house poor’ – Ask a Vancouver Mortgage Broker

How to determine if you are ‘house poor’ By Gail Johnson | Pay Day    About a quarter of Canadians spend too much on housing costs, Statistics Canada says. How can you tell if you’re house poor, aside from the fact that your bank account is hemorrhaging funds? To answer that question, dig deep, and we’re talking in your […]

How ‘affordable housing’ became an oxymoron – Consult with a Vancouver Mortgage Broker

ROB CARRICK– The Globe and Mail–  Housing affordability in Canada is as alive as the chances of the Toronto Blue Jays making the baseball playoffs and the appeal of eating a Cronut burger. Housing was just barely affordable before mortgage rates started climbing earlier this summer. Now, with the popular five-year fixed rate up roughly two-thirds […]

Young families looking to lock in long-term – Consult with your Vancouver Mortgage Broker

By Donald Horne Brokers, it may be time to check in with those young clients you helped into a condo five years ago. Dollars to donuts, they’re now looking for houses and the kind of long-term mortgage that spells big bucks for brokers. “They are telling me they want a 5-, 7- or even 10-year fixed […]

MoneySense – Canada’s Best Places to Live 2011

MoneySense has released its Canada’s Best Places to Live 2011 list. Click here to see how your town stacks up.     Overall rank City Prov. Weather Affordable housing Household income Discretionary income New cars on road Job prospects Population growth Access to health care Low crime rate Walk/bike to work ▲ 1 Ottawa-Gatineau ON 58 […]

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