6/25/2024 | Posted in First Time Home Buyers by Jim Turnbull
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More than one-third of first-time homebuyers in Ontario are getting help with their down payment and the average gift now tops $100,000, according to a report from CIBC. ... More

Real Estate & Mortgage News

  6/1/2024 | Posted in First Time Home Buyers by Jim Turnbull
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New home savings accounts have been used by 624,000 Canadians according to tax data, with a median deposit of $2,040. ... More

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  4/18/2024 | Posted in Home Buyers by Jim Turnbull
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As variable-rate mortgage holders eagerly anticipate the Bank of Canada’s first rate cut, fixed rates are heading in the other direction: up. ... More

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  4/11/2024 | Posted in Government and Regulation by Jim Turnbull
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Some advocates are praising Ottawa’s move to lengthen the amortization period on insured mortgages for certain homebuyers, but say expanding the policy to all Canadians ... More

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  3/13/2024 | Posted in Mortgages and Real Estate by Jim Turnbull
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The Canadian mortgage space is already seeing some rates on offer decline heading into the spring market, despite no clear indication yet from the Bank of Canada that interest ... More

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  3/2/2024 | Posted in Home Buyers by Jim Turnbull
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The federal government has announced it will be discontinuing its First-Time Home Buyer Incentive (FTHBI) program as of March 21. ... More

Real Estate & Mortgage News

  2/27/2024 | Posted in Home Buyers by Jim Turnbull
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One third of Canadians are considering alternative home ownership models, a new survey has found, as purchasing a home remains out of reach amid an ongoing affordability crunch. ... More

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  2/6/2024 | Posted in Canada Living by Jim Turnbull
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A new report published today reveals that the burden on buyers from provincial governments’ billions of dollars in levies and development fees on new construction, and ... More

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  1/18/2024 | Posted in Mortgage Interest Rates by Jim Turnbull
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This week’s rise in bond yields could cause some lenders to reverse recent fixed mortgage rate cuts, experts say. ... More

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  12/13/2023 | Posted in Mortgages and Real Estate by Jim Turnbull
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Canada’s banking regulator confirmed it will leave the mortgage stress test for uninsured mortgages unchanged. ... More

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  8/28/2023 | Posted in Canadian Housing Market by Jim Turnbull
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The Bank of Canada's June and July interest rate increases essentially put a stop to the housing market’s recovery, says analyst. ... More

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  8/18/2023 | Posted in New Developments by Jim Turnbull
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Many Canadian homebuyers waiting patiently for construction to finish on their pre-sale unit are being met with cancellation notices from developers. The building environment is ... More

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  7/26/2023 | Posted in Mortgages and Real Estate by Jim Turnbull
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The plan might help safeguard the stability of the financial system - but could also see mortgage costs rise. ... More

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  6/16/2023 | Posted in Mortgages and Real Estate by Jim Turnbull
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Fixed mortgage rates are once again on the rise, with rates under 5% quickly becoming a distant memory. ... More

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  3/14/2020 | Posted in Ontario Real Estate by Jim Turnbull
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Condo developers in Ontario looking to sell units to millennials and first-time home buyers could be barking up the wrong tree, according to a new survey from OREA. ... More

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  2/24/2020 | Posted in First Time Home Buyers by Jim Turnbull
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Genworth Canada’s 2019 First-Time Homeownership Study provides a snapshot of the demographics of Canada’s first-time homebuyers (FTBs), what’s motivating them ... More

Real Estate & Mortgage News

  2/19/2020 | Posted in Mortgages and Real Estate by Jim Turnbull
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The Office of the Superintendent of Financial Institutions (OSFI) has announced that it is considering a new benchmark rate to determine the minimum qualifying rate for uninsured ... More

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  2/10/2020 | Posted in GTA Real Estate by Jim Turnbull
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Mortgage stress test forces homebuyers further outside GTA to find house they can afford. ... More

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  1/27/2020 | Posted in Toronto Real Estate by Jim Turnbull
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Two city councillors are pushing for a rethink of Toronto's municipal land transfer tax rebate for first-time home buyers, suggesting the cap should be increased to match the ... More

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  12/13/2019 | Posted in Home Buyers by Jim Turnbull
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Millions of Canadian millennials feel they may never be able to follow previous generations into homeownership according to a new survey. ... More

Real Estate & Mortgage News

  11/22/2019 | Posted in Canadian Housing Market by Jim Turnbull
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Some fresh information on the status of the First-Time Home Buyer Incentive (FTHBI) and a possible increase on the $1M cap for insured ... More

Real Estate & Mortgage News

  10/16/2019 | Posted in Canadian Housing Market by Jim Turnbull
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This demographic is likely to account for nearly 700,000 home sales over the next five years. ... More

Real Estate & Mortgage News

  9/16/2019 | Posted in Home Buyers by Jim Turnbull
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In an election announcement on Thursday, Liberal Party Leader Justin Trudeau promised to turbocharge the First-Time Home Buyer Incentive (FTHBI) for Canadians who live in ... More

Real Estate & Mortgage News

  6/18/2019 | Posted in First Time Home Buyers by Jim Turnbull
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While more details about the First-Time Home Buyer Incentive were released this week, there remains a glaring problem. ... More

Real Estate & Mortgage News

  6/18/2019 | Posted in Home Buyers by Jim Turnbull
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The incentive will allow eligible first-time homebuyers who have the minimum down payment for an insured mortgage with CMHC, Genworth or Canada Guaranty, to apply to finance a ... More

Real Estate & Mortgage News

  6/13/2019 | Posted in Home Buyers by Jim Turnbull
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Three quarters of homebuyers in three of Canada's largest housing markets are not willing to take financial risks when buying a home, ... More

Real Estate & Mortgage News

  6/7/2019 | Posted in Interest Rates by Jim Turnbull
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Spring is typically a busy time for home sales, so lenders are competing fiercely right now for new business — and that's adding up to record low rates for borrowers. ... More

Real Estate & Mortgage News

  5/17/2019 | Posted in Home Buyers by Jim Turnbull
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The Conservative Party leader says he's "absolutely committed" to reviewing the rule. ... More

Real Estate & Mortgage News

  5/15/2019 | Posted in Home Buyers by Jim Turnbull
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Canada needs to be building more homes to meet demand which is greater than official figures suggest. ... More

Real Estate & Mortgage News

  5/11/2019 | Posted in Canadian Housing Market by Jim Turnbull
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The head of the Canada Mortgage and Housing Corporation (CMHC) gave a candid assessment of the country’s housing market, saying the “party” of homeownership as a ... More

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