So, you’re thinking about investing in real estate? Congratulations – property investment is a great way to diversify your portfolio and improve your financial footing during periods of economic uncertainty.
There’s just one problem – you don’t know where to start. Continue reading
Last Friday, the Canada Mortgage and Housing Corporation issued a statement announcing another round of mortgage restrictions, this time concerning limits on new National Housing Act Mortgage-Backed Securities (NHA MBS). The statement, which was sent to banks, credit unions, and other mortgage lenders, outlined new restrictions that would limit lenders to a maximum of $350-million new guarantees, the amount of “market NHA MBS”, that can be guarenteed by CMHC for the month of August. The restrictions come at a time when housing prices are still near record highs. Continue reading
It was roughly one year ago that Finance Minister Flaherty announced his fourth round of mortgage restrictions in as many years. The reason for these changes was simple: cool down an out-of-control housing market. By tightening lending rules, Flaherty hoped to lower the risk to taxpayers and curb excessive rates of household debt. Continue reading
How affordable are homes on the Canadian housing market?
This is the question at the top of every mortgage broker and home hunter’s mind. As mortgage rates begin to climb and home prices creep ever higher, industry leaders are keeping a close eye on affordability in an attempt to avoid a bubble.
It’s no secret that more and more houses are being priced out of the range of first time home buyers. This is especially the case in major metropolitan areas like Toronto and Vancouver. With today’s increasingly expensive markets, what does affordability even mean? We asked Robb Nelson of FamilyLending.ca to help better explain this important measure and how it could impact your mortgage rate and ability to buy. Continue reading
Location, location, location – it’s the most important aspect of any potential house hunt. But just what constitutes a good location? Whether you’re searching for a new home or thinking about putting your’s on the market, it pays to know what makes or breaks a prime location in your area. Continue reading