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Tuesday, February 25th, 2020

How badly would you be hurt in a housing market price correction? – Ask a Vancouver Mortgage Broker

A question for everyone who thinks houses are an investment: How much would a market decline hurt you? Help yourself be a smarter homeowner by using The Globe and Mail’s Housing Price Correction Calculator to find out. Housing bulls, don’t self-combust. Our calculator shows the result of both price gains and losses over the next five years. […]

How lower interest rates are making variable mortgages more tempting – Ask a Vancouver Mortgage Broker

Consumers facing record housing prices are probably increasingly tempted to go with a floating rate mortgage and all the risks that come with an interest rate linked to prime. The lure is right in your face on every mortgage rate comparison site. The five-year fixed-rate mortgage has dropped as low as 3.09% with discounters and […]

Canada housing correction could trigger another recession, BMO report says – Consult with a Vancouver Mortgage Broker

OTTAWA — A sudden and sharp correction in the housing market could have a devastating impact on the Canadian economy overall, enough to trigger another recession, says a new Bank of Montreal report. Bank of Canada holds rate at 1%, cuts growth forecast for 2014 The Bank of Canada says it is keeping interest rates […]

No collapse in Canada’s condo market, but not much growth either – Consult with a Vancouver Mortgage Broker

The report is sponsored by Canada’s largest private mortgage default insurer but it shows a relatively flat condo market in Canada’s eight largest market for high rises. Leaving the city (and the big mortgage) behind Many couples, stunned by the value of their homes in Canadian urban centers like Toronto, Calgary and Vancouver, are pondering […]

Leaving the city (and the big mortgage) behind – Ask a Vancouver Mortgage Broker

Slightly more than three years ago, I sat down with my wife after a lousy commute and discussed why we were still in Toronto. Sure, she had a good job in the city, but I was freelance, and with two young children in elementary school, we pondered whether there were other options. The positives were […]

Realtors say Canada’s housing market can still grow – Ask a Vancouver Mortgage Broker

Home sales and prices are expected to still grow over the next two years, albeit at a slower pace, says the national organization that represents realtors. In Canada’s housing market here’s what $500 K buys: A lake in Edmonton … a condo in Toronto From four bedrooms in Windsor to one-bedroom in Vancouver, check out […]

Canadian first-time home buyers’ budget rises to $316,000, 6% more than last year – Consult with a Vancouver Mortgage Broker

TORONTO — A Bank of Montreal report on first-time home buyers says the average budget has increased to $316,100. That’s up nearly 6% from an average of $300,000 in last year’s report on first-time home buyers. The BMO study says a sample of prospective buyers in Vancouver, Toronto and Calgary had even higher budgets for […]

Canadian house prices hit record high in January as Vancouver market surge – Ask a vancouver Mortgage broker

Andrea Hopkins, Reuters  TORONTO — Canadian home prices rose to a record high in January as Vancouver prices surged, the Teranet-National Bank Composite House Price Index showed on Wednesday, even as other housing indicators have shown a cooling market. Buying a house? Here’s how to get a big tax refund The $25,000 you can take […]

Demand for luxury homes still strong in Canada, real estate company says – Ask a Vancouver Mortgage Broker

The luxury end of the Canadian housing market shows no signs of slowing down, at least according to one real estate company. Re/Max surveyed 16 Canadian markets and found sales of what it calls “upper end homes” higher in 75% of those markets. Vancouver, the priciest market in the country, saw an increase of 36% […]

Rebound continues in Canada’s housing market- Ask a Vancouver Mortgage Broker

TARA PERKINS – REAL ESTATE REPORTER Home sales continued to be strong in a number of major cities in November, with preliminary local data indicating that the country’s housing market is still rebounding. The number of homes that changed hands by way of the MLS system in greater Toronto last month came in 13.9 per cent […]

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