Mortgages has become harder to obtain – how to find alternatives to the rules It’s a lot harder to get the feds to back your mortgage than it was a few months ago. Effective July 1st, 2020, the Canada Mortgage and Housing Corporation (CMHC) has reduced borrowing limits, demanded higher credit scores, […]
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CMHC tightens lending standards to protect housing market during COVID-19
CMHC tightens lending standards to protect housing market during COVID-19 Canadians looking to borrow money for a home purchase a home in for some extra challenges after the Canada Mortgage and Housing Corporation announced changes to its lending standards on Thursday. The country’s national housing agency is increasing the qualifying credit score for […]
Vancouver’s Housing Market is Gloomy – Yet Unaffordable For Household Incomes Of $120,000 Yearly
Vancouver’s Housing Market is Gloomy – Yet Unaffordable For Household Incomes Of $120,000 Yearly The housing numbers out of Vancouver, once among the world’s hottest real estate markets, are getting more dismal with each passing month. Sales in April, 2019 were the lowest in 24 years for a month that typically kicks […]
Interest Rate up inject to homebuyers’ challenges, more first-time buyers may not qualify
The interest rate up and third Bank of Canada rate hike this year could shut more first-time buyers out of the Toronto region’s housing market. It will increase hundreds of dollars to some homeowners’ challenge mortgage payments. More first-time buyers may not qualify for mortgage. The central bank has raised its key lending […]
Toronto condo buyers face the market squeeze
One of the interesting surprises of the resale marketplace in 2016 in the Greater Toronto Area was the strength of the condo market. The lack of listings in the single-family home category persuaded many potential purchasers to take another look at high-rise living. The trend appears to be continuing in 2017. In 2016, sales […]
