Wed, 07 Mar
Great to see that the year is off to a good start with improved sales volume in the residential market. While condo apartments haven’t performed quite as well, townhouses and of course the ever popular single family homes are selling very well.
Belong is a link to the CREB stats:
Tue, 06 Mar
If you are a first time buyer still sitting on the fence, you might want to make your move this month, before the new federal budget comes out. No one knows for sure if there will be any changes to the lending standards, but rumours like this are usually based on some real information, and it is no secret that the mortgage industry has been doing some hard lobbying with the government trying to make the point that these changes would be a very bad idea.
While changes to mortgage rules would affect all buyers, not just first time buyers, it is this buyer group that finds it most challenging to save up enough down-payment for that first purchase. Should the “rules” change, it will be much harder to qualify for a mortgage and potentially even harder to accumulate enough for a 10% down-payment.