How are Canadian Mortgage Rates Determined?
Posted on Jan 26, 2024 in Market Conditions
Canadian mortgage rates have been in a state of flux for the last year. The pandemic prompted a trio of interest rate drops, bringing the benchmark rate down to 0.25 per cent. This, in turn, resulted in a housing boom that saw many homebuyers stretch their financing to the limit in order to be able to buy a home. Now that the boom has passed and in...
What does ‘AS IS’ property purchase mean in Real Estate?
Posted on Jan 18, 2024 in First-Time Buyers
Purchasing a home typically begins with making an offer, also referred to as the agreement of purchase. This document outlines the necessary conditions that must be met to finalize the deal. Common conditions typically include securing mortgage financing and sometimes undergoing a home inspection.
The concept of purchasing a property “as is” indicat...
The concept of purchasing a property “as is” indicat...
Is Airbnb Really Causing the Housing Crisis?
Posted on Dec 19, 2023 in Market Conditions
Did Airbnb perpetuate the housing crisis?
In the early days of the coronavirus pandemic, Canada’s rental market cratered, particularly in major urban centres. Many of the large cities, like Toronto and Vancouver, saw condominium units flood the housing market, creating a crash in apartment rents, something that had not been seen in years.
It was a re...
Guide to Mortgage Renewal: How Do I Renew My Mortgage?
Posted on Nov 22, 2023 in Mortgages
During the pandemic-era housing boom, many homebuyers purchased residential properties at rock-bottom mortgage rates. In response to the national economy’s pressures, the Bank of Canada (BoC) slashed interest rates to near zero, allowing prospective homeowners to obtain greater purchasing power and acquire a detached house, townhome, or condominium...
What Is a Second Mortgage?
Posted on Nov 09, 2023 in Mortgages
A second mortgage is a financial tool that is seeing a resurgence among Canadian homeowners. With property values soaring, homeowners are sitting on significant untapped equity in their residences. Property owners are realizing the possibility of consolidating high-interest debts, financing home improvements, or even funding an investment property...
4 Things to Do With the Equity in Your Home
Posted on Oct 26, 2023 in Mortgages
The Canadian real estate market has seen significant price increases in recent years, particularly in major cities like Vancouver and Toronto. This growth has boosted home equity for many homeowners. With rising home values comes a noticeable uptick in home equity loans. Many homeowners are tapping into their home equity to finance everything from...
