Recently one of the former members of the boy band New Kids on the Block expressed an interest in buying this lighthouse off the coast of Virginia in the U.S. Unique homes can be a lot of fun to own and to live in. However, there are some things you should be aware of before […]

There was an improvement in Canada’s housing affordability measure at the end of 2017. It was the first time in two years that RBC Economics Research’s Housing Trends and Affordability Report has shown a decrease in its aggregate measure, albeit just 0.2 percentage points nationally to 48.3%. As the measure is shown as the share […]

Finding the best realtor for you involves doing some leg work. It can be overwhelming, kind of like choosing which ice cream you want to try! You go to the ice cream store and they have over 50 flavours and after you have contemplated, you opt for vanilla, just because it was easy. Finding the […]

Homebuying intention is at its highest in eight years as the growth in the Canadian economy fuels consumers’ confidence. Despite the mortgage stress tests introduced at the start of 2018, a third of Canadians polled by RBC say they are very or somewhat likely to buy a home in the next two years. Among millennials, […]

Prepayment, Portability and Assumability Prepayments One of the most common questions we get is about mortgage prepayments. The conditions vary from lender to lender but the nice thing about prepayments is that you can pay a little more every year if you want to pay off your mortage faster. A great way to do this […]

The tax changes announced by British Columbia will have a major impact on the province’s housing market according to brokers. A survey of 535 real estate professionals in BC and Alberta carried out by Royal Le Page found that most expect the measures designed to target foreign investors will also hit those who own second […]

The words reverse mortgage carry some negative connotation. What does it really mean? What makes reverse mortgage different than a regular or demand mortgage in Canada? There are no payments required if 1 applicant lives in the home. Payments can be made if they wish, they are truly optional. No medical required and limited income […]

Short Version: The most important question a home-seller must ask their Broker or their banker this Spring: ‘Do I QUALIFY to port my mortgage?’ You must re-qualify to port your mortgage to a new property, and you must re-qualify under stringent new rules. How stringent? Long Version: Let’s say you have impeccable credit, a $100,000 […]

Affordability in Canada’s housing markets is generally very good but interest rate increases could start to change that. BMO’s Spring Housing Affordability Report also reveals the influence that Millennials have on the markets in Toronto and Vancouver, but also in those outside these hot markets as they seek more affordable options. However, this influence is […]