On September 16, 2024, the Canadian government issued a significant remark that may have an impact on the housing market. New mortgage guidelines aim to make it easier for Canadians, particularly Millennials and Generation Z, to buy a home. These measures, hailed as the most significant in decades, will benefit first-time homebuyers while also spurring...
In its latest announcement regarding mortgages for First Time Home Buyer, Federal government raised the insured mortgage cap to $1.5M for a down payment of 20%. Also, the amortization period has been increased from 25 to 30 years, bringing a sigh of relief on home buyers worried about huge monthly payment. With the expected inflation...
With mortgage costs rising every year and cost-of-living crisis to continue, people are having their finances so messed up that they are struggling to pay their bills and debts. If you currently hold a mortgage, this financial crisis can lead to problems making monthly mortgage repayments. Despite popular belief, notifying your lender that you are...
Thinking of buying your first house? If you’re an initial home buyer, you most likely can’t wait to sign a contract and get settled into a residence. One of the most crucial things to focus on when purchasing a property is securing a lucrative mortgage arrangement at a competitive interest rate. You can find the...
Purchasing a home is a significant event. It is not something that you will encounter too frequently in your life, unless you are an investor in real estate. However, a lot of people eventually refinance their homes to improve their financial status and to get access to better mortgage rates. Mortgage refinancing is a common...
