Bank of Canada Rate Change
The Bank of Canada (BoC) has raised its interest rate by 0.25% this morning – the first increase in more than seven years. Canadians have lived in a historically low-interest [...]
Department of Finance Housing Changes
Ottawa has announced new rules in response to concerns that some markets in Canada are overheated and that Canadian debt levels continue to increase. These changes are meant to alleviate [...]
New Down Payment Requirements
General Requirements to Qualify for Homeowner Mortgage Loan Insurance For insured mortgage loans, the maximum purchase price or as-improved property value must be below $1,000,000. You will typically have a [...]
Mortgage Rules Tighten on Homes Over $500K
The federal government is changing mortgage rules by boosting the minimum down payment for higher-priced homes in Canada effective in the new year. Home buyers are currently required to put [...]
CMHC Housing Report Warns Canadian Market is Overvalued
The latest CMHC Housing Report indicates the situation is code red for four of the country’s housing markets. Canada Mortgage and Housing Corp., which colour-codes cities according to the degree [...]
The Liberal Party Affordable Housing Plan
Now that the Liberal Party has taken a majority government, we will wait to see how many election promises they follow through on. Below is a break down of the [...]
The Liberal Party Effect on Mortgages
The Liberals’ new majority gives them all the power they need to influence Canada’s mortgage market. Interest rates, mortgage policy and affordable housing initiatives will all be affected. Here’s some [...]