By Anne McMullin They are doing it in London. They are doing it in Toronto. They want to do it in Vancouver. Taking notes from global cities where substantial population growth has occurred, real estate developers are looking through a new lens to find affordable, eco-conscious ways to ease Vancouver’s housing crisis. Gentle densification. This is the term the Urban...[ read more ]
By Jorge and Alisa Aragon What do lenders look at when qualifying me for a mortgage? Most lenders look at the following factors when determining whether you qualify for a mortgage: Income Debts Employment History Credit history Value and marketability of the property you wish to purchase. HOW MUCH CAN I QUALIFY FOR WHEN BUYING A HOME? In order to...[ read more ]
By Monika Warzecha The April housing numbers from the Canadian Real Estate Association (CREA) emphasized how hard it is to pigeonhole the country’s housing market. The average sale price for an existing home rose 9.5 per cent, year-over-year, to $448,862 in April. But removing Toronto and Vancouver from the equation leads to a much more modest increase of 3.4 per...[ read more ]
Making your move now could save you thousands By Cameron McNeil As a first time homebuyer, you may be eligible for a high-ratio mortgage. This means you could own your home with as little as a five per cent down payment. This type of high-ratio mortgage requires Canada Mortgage and Housing Corporation (CMHC) financing or insurance – which means, to...[ read more ]
By Kris Grasty WOW! The big banks have lowered their rates! Two major lenders announced last week that they have lowered their posted rates. While this is great news for shoppers out there and advertised just in time for the Spring Rush, the reality is that bank rates have finally come to a level that has been accessible by Mortgage...[ read more ]
By Michael Aynsley Photo: Bank of Canada/Flickr In a meeting with the House of Commons finance committee on Tuesday, Canada’s top central bankers said the country’s real estate market is not at risk of a sharp correction despite recent reports of overvaluation. From the Wall Street Journal: [Bank of Canada senior deputy governor Carolyn Wilkins] said the central bank believed...[ read more ]
By Gail Vaz-Oxlade With tax season just around the corner, you may be thinking about your RRSP contribution. There was a time when the only thing an RRSP was used for was saving for retirement, but this is no longer the case. These days, you can use your RRSP as a savings plan for a down payment on a home,...[ read more ]
By Barbara Lawlor Recently, I was looking at the Canada Mortgage and Housing Corp. website, where users can download the “Condominium Buyer’s Guide,” which contains a section called, “Is condominium ownership right for me?” It occurred to me that nowadays, condominium living is “right” for just about everyone. The surge in condo sales across the Metro Vancouver area over the...[ read more ]
Sotheby’s International Realty Canada’s new findings about luxury home buyers highlights the contrasts between what well-heeled purchasers are looking for in a home. By: Monika Warzecha Photo: James Bombales Going against the commonly held belief that aging Baby Boomers are going to have to squeeze into a smaller home as they age, the Sotheby’s report found affluent Boomers in major...[ read more ]
Spring is traditionally a busy time for the housing market and Metro Vancouver has got a head start already with the Real Estate Board of Greater Vancouver reporting that sales in February 2015 were 20.2 per cent above the 10-year average for the month. If you are getting Spring fever, but are a first time home buyer or new to...[ read more ]
