Mortgages

first-time home buyer incentive CMHC
Mortgages

“Dead On Arrival”: CMHC Ends First-Time Home Buyer Incentive

An update provided on CMHC’s website confirms that the incentive is being “discontinued,” and notes that the deadline for new or updated submissions is March 21, 2024.

Mortgages

Renewing Your Mortgage in 2024? Here's How To Prepare

We spoke with Clay Jarvis, a mortgage and real estate expert at NerdWallet, to discuss what Canadians can do to prepare for a mortgage renewal in 2024.

Economy

Inflation Accelerated In December. What Does That Mean For Interest Rate Cuts?

"The Bank of Canada’s job is getting inflation under control. When there’s a setback like this, that should realistically postpone any possibility of a rate cut."​

Real Estate News

What Experts Are Saying About Real Estate, Interest Rates In 2024

Forecasters say that 2024 will bring long-awaited interest rate cuts, some semblance of mortgage relief, and perhaps a more eventful spring housing market.

Mortgages

Interest Rates Slipping Below 5% For Some Mortgage Offerings

After many months of sky-high interest rates, some lenders are offering five-year insured fixed-rate mortgages at slightly more appealing rates.

Mortgages

Canadian Mortgage Holders Reduce Spending Amidst High Interest Rates

The Canadian consumer is becoming increasingly stressed by high interest rates," TD Economics said.

Mortgages

“Worst-Off Borrowers” Could See Mortgage Payments Spike Upwards Of 70%

While some borrowers will look to extend the amortizations of their mortgages, others will opt to make lump-sum payments — however, both options “come with their own costs,” an expert says.

Mortgages

October Brings “Widespread Improvement” In Canadian Housing Affordability

“Home prices have indeed decreased by a large enough margin to ease [mortgage] qualification for many buyers in October, with affordability improving in eight of the 10 markets studied.”

Mortgages

Over 2M Mortgage Holders Expected To Face "Interest Rate Shock" In Next 24 Months

The worst effects of interest rate hikes may be yet to come for millions of Canadian mortgage holders who face renewal in the next two years, with the potential of 30% to 40% increases in their average monthly payments.

Mortgages

Wave Of Forced Home Sales Looms As Canadians Turn To Non-Traditional Lenders

“While non-bank lenders stepped in to help these borrowers earlier this year, they may be less inclined to do so now that falling house prices are further eroding borrowers’ equity and the economy has entered recession.”