Share Scotia Economics has just released a report that further paints a positive view of Canada’s housing market. The report argues that sales will continue strong through 2010, but that the pace will start to ease as rising prices and interest rates will make the property market a less affordable proposition. Like many before them, [...]
Share A recent Royal Bank of Canada (RBC) poll showed that homebuying momentum in Canada continues to gain momentum with the portion of Canadians who are likely to purchase a home within the next two years rising to 10%. This data is according to the 17th Annual RBC Homeownership Study; it shows that younger Canadians, [...]
Share When you are deciding to buy your first home, one of the questions that often comes up is: how much should I pay for my down payment? The short answer is: as much as possible. We’ve all seen the havoc that some of the no-down payment mortgages in the U.S. have caused. Since buyers [...]
Share With new mortgage rules taking effect on April 19th, 2010, homebuyers are now faced with the problem of coming up with more money for their down payment, among other changes being made. What is to come after these rules take effect should be the rise of interest rates, and if inflation continues to rise [...]
Share With the change coming to the housing market, home buyers might begin to find themselves looking at less expensive houses in order to purchase a home according to the new rules. What might happen as we are nearing the period when interest rates rise, we will see Canadians stretching their budget; however what happens [...]
Share Canada’s inflation rate rose last month as Statistics Canada’s consumer index rose more than half a point to 1.9%, making this the largest increase seen in more than a year. The entire inflation indicators rose in January and all provinces experiences inflations, with Atlantic Canada having the biggest gains. The Bank of Canada core [...]
Share Despite the recession, average home prices have been rising throughout the last decade. In contrast, wages have generally not kept pace with the rising cost of owning a home. The result has been that home buyers, particularly new home buyers, have been choosing longer amortization periods for their mortgage. Traditionally, Canadians have done 25-year [...]
