The changed scenario in the housing market of Canada can be pretty exciting and overwhelming for first-time homebuyers. Just recently, it has become possible to stretch mortgage terms up to 30 years. Although this can provide some flexibility in the management of the monthly payments, there is still a careful weighing of the advantages and...
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 a recent move, the Bank of Canada (BoC) announced a further cut to the overnight lending rate. This is the third time in a year that the bank has lowered the lending rate, bringing it down to 4.25%. This action has received various reactions from economists, homeowners, and businesses. Many are trying to understand...
Understanding the intricacies of a mortgage down payment in Canada is essential for a smooth and successful home purchase. Here, we’ll go over the most crucial facts you should know regarding down payments in 2024 so you can plan ahead of time and avoid surprises before closing: Whether you are a first-time buyer or updating...
