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 [...]