Found 20 blog entries tagged as mortgage rates.

As the Canadian real estate landscape undergoes a transformative evolution, two key forces stand at the forefront, shaping the future of homeownership. The demand for sustainable living is on the rise, with eco-friendly homes featuring energy-efficient designs and green certifications becoming integral to the modern real estate experience. Simultaneously, technology is ushering in a digital frontier, revolutionizing how we navigate the property market, from immersive virtual tours and AI-driven insights to secure blockchain transactions. In this article, we embark on a journey to unravel these impactful trends, providing expert insights into mortgage strategies that empower you on your path to successful homebuying in the dynamic Canadian market of…

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In the dynamic world of real estate, securing a great deal is a top priority for many buyers. One strategy that often gets debated around the water cooler is the art of making a low-ball offer. But before you channel your inner negotiator, it's crucial to understand the benefits, drawbacks, and essential considerations that come with this approach. In this guide, we'll walk you through the ins and outs of low ball offers, giving you the knowledge you need to make informed decisions and perhaps snag that dream home at an unbeatable price.

The Benefits of Making a Low-Ball Offer

Potential Savings

The most enticing benefit of a low-ball offer is the potential for significant savings. In a competitive market where property prices can soar, a…

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Real Estate - a stable, long-term investment that offers numerous benefits, including inflation protection, and the potential for significant returns. Investing in real estate can be a smart financial move, especially for first-time homebuyers. Here are a few reasons why:

Long-Term Appreciation

Over time, property values tend to appreciate, which means that the value of your home will likely increase in the long run. While there may be short-term fluctuations, real estate has historically proven to be a reliable long-term investment. This makes it a great way to build wealth over time.

Forced Savings

When you make mortgage payments, a portion of each payment goes toward paying down the principal on your loan. This means that every…

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As the real estate market continues to evolve, one trend that has emerged in recent years is the increasing number of millennials becoming first-time homebuyers. According to data from the Canadian Real Estate Association (CREA), mortgage-related searches by millennials have been on the rise, indicating that younger buyers are not only preparing to buy homes, but are actually making purchases. In this blog post, we'll explore some of the reasons why millennials are increasingly becoming first-time homebuyers.

Affordability

One of the primary reasons why millennials are entering the housing market is affordability. Despite high home prices in many areas, low mortgage rates have made it easier for younger buyers to enter the market. In…

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Real estate experts have been predicting how the Canadian housing market will fare in 2023 since the beginning of 2021. With current trends pointing towards a steady increase in home sales, it’s no wonder that many are eager to know what the future holds. With new trends and economic shifts, the landscape of home sales can be difficult to predict. In this blog post, we'll take a closer look at why home sales are expected to continue to rise over the next few years, and what buyers and sellers can expect from the markets in 2023. 

How We Got Here 

Before we can look into the future, it’s important to understand how we got here. The Canadian housing market has seen an unprecedented surge over the past year due to both COVID-19 safety measures and…

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Difference between banks versus mortgage brokers

When looking for a good mortgage rate, there are two main options: going directly through a bank or working with a mortgage broker. Each can be a good option, depending on your financial situation. So how do you decide which one to try? Let’s look at the difference between banks versus mortgage brokers, their pros and cons, and how to figure out which is best for you.

The Difference Between Banks Versus Mortgage Brokers

The big difference between a bank and a mortgage broker is that a mortgage broker can provide you with mortgage products from several different lenders, while a bank can only give you the mortgage option from their own company. Mortgage brokers have access to a variety of lenders and rates, which means…

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Bank of Canada Raises Target for Overnight Lending Rate Again, Changes Language on Future Rate Hikes

The Bank of Canada hiked its target for the overnight lending rate by 50 basis points to 4.25% while continuing its policy of quantitative tightening but stated that looking ahead it would need to consider whether the policy rate should rise further—a much more neutral stance than previous announcements.

After the announcement, financial markets were pricing in the potential for one more interest rate hike by the third quarter of 2023.

The Bank noted economic growth was stronger than expected in the third quarter of 2022 and continued to operate in excess demand. The Bank expects growth to stall through the end of the year and into the…

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how do you pay your mortgage off faster

Buying a home is a big investment and a huge commitment, but most homeowners will attest that the pay-off is worth the pains and strains of making those regular mortgage payments. Most people focus on their mortgage interest rate as a way of saving money (or at least, ensuring more of it goes toward your principal), but there are other ways to decrease the amount paid in interest. One way is to pay your mortgage off faster. More on that below, but let’s start with a basic mortgage 101.

What is a mortgage?

In order to buy a home in Canada, you’ll need a down payment of at least five per cent of the home’s purchase price (but it can be more). These funds are typically saved over time and can be boosted with the help of…

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housing shortage affordability crisis

The Canadian real estate market is experiencing a correction period. While many industry observers are stopping short of calling this downturn a crash, it is clear that the once-sizzling housing sector is being doused by rising interest rates and broader uncertainty surrounding market conditions. So, are we still experiencing an affordability crisis?

In September, the national average home price tumbled 3.9 per cent from the same time a year ago to $637,673, according to the Canadian Real Estate Association (CREA). Even when Toronto and Vancouver – two of the hottest housing markets in Canada – are eliminated from the equation, the typical residential property in the country sold for more than $500,000. While this is…

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When mortgage interest rates were on a downward trend in the early days of the coronavirus pandemic, a variable mortgage rate made sense. With no signs of tightening on the horizon, the housing market boomed at extraordinary levels never seen before.

Now that interest rates are rising as the central bank attempts to rein in out-of-control price inflation, the discussion is how high mortgage rates will go. It is a crucial conversation, since rising rates will increase your monthly mortgage payments. While it’s challenging to forecast just how high mortgage rates will climb, Canada Mortgage and Housing Corporation (CMHC) thinks they will start to stabilize in 2024, which is when some market analysts expect the Canadian real estate market to…

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