A recent Scotiabank poll found that nearly three-quarters (72 per cent) of Canadians are taking at least one step to becoming mortgage-free sooner. The biggest advantage of paying your mortgage off sooner is the amount of interest you would save. A $350,000 mortgage can produce as much as $150,000 in interest charges over a 25-year [...]

Continue Reading

  The desire for homeownership is alive and well in Canada, with many Canadians willing to go to great lengths for it. According to the Genworth Mortgage Insurance Company Canada (“Genworth Financial Canada”) First-Time Homebuyer’s Monitor released today, 68 per cent of renters said they would be willing to delay major purchases and more than [...]

Continue Reading

Canadians who are considering purchasing their first home are primarily motivated by lower home prices and very low interest rates, but some require confidence in the economy and their employment prospects before they will enter the market, according to a report released by Royal LePage Real Estate Services. Eighty-six per cent of potential first-time buyers [...]

Continue Reading

  When life delivers an unexpected blow – like a serious illness, a marital separation or loss of employment – it can be difficult to stay on track. Sometimes, it can even put your ability to make your mortgage payments at serious risk. This scenario shouldn’t mean that your home, and everything you’ve worked so [...]

Continue Reading

Housing starts are expected to decline to 141,900 for 2009, but increase to 150,300 for 2010, according to Canada Mortgage and Housing Corporation’s (CMHC) second quarter Housing Market Outlook, Canada Edition(*) report. “The decline in housing starts in 2009 can be attributed to several factors, including the current economic climate, increased competition from the existing [...]

Continue Reading

Canada’s housing market is showing signs of emerging from its winter hibernation, according to the latest Real Estate Trends report released today by Scotia Economics. Nationally, home sales strengthened in both February and March, and preliminary reports suggest this firming trend continued in April. The Real Estate Trends report notes that the rise in demand, [...]

Continue Reading

In a buyer’s market, if you can’t go it alone, find a good friend. The results of the 2009 TD Canada Trust Condo Poll show that the perceptions of the condo market have improved significantly over 2008 with 44% of urban Canadians believing the current conditions have improved for buying a condo as an investment [...]

Continue Reading

  BMO and industry experts shared their insights on the current and future state of Canada’s real estate market at BMO’s Real Estate Forum in Toronto. The panel discussion is available on video: http://events.snwebcastcenter.com/bmo/20090414/index.php The video features BMO experts John Turner, Director, Mortgages, and Sal Guatieri, Senior Economist, along with industry experts, Brad Lamb, Brad [...]

Continue Reading