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CMHC says 18 per cent of first-time buyers received a gift from a family member as part of their down payment.
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It's common to hear about houses going for hundreds of thousands over asking price, bully offers and bidding wars especially in large cities such as Toronto and Vancouver. The current housing bubble doesn't appear to be anywhere near to bursting, and every day we are bombarded with media headlines and reports on the escalation of rising prices for homes. But are the media headlines themselves affecting the market by making buyers more fearful about getting into the market?
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Surprising to many, homes come with warranties -- well, new homes that is. New-construction condominiums, townhouses and free-standing homes are automatically covered for issues related to construction and assembly of the home -- pipes, paint and everything in between.
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A simple Google search of "political promises in Canadian real estate market" gives you an idea of where our minds are at this election. The sentiment is pretty clear. Canadians want to know what our next provincial government is going to do about the simmering B.C. real estate market?
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Will it infect the whole mortgage market?
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So, you've decided to buy a new house. Congrats! But the truth is that doing it all on your own is tough. The good news is that whether you're a first-time home buyer, or an existing homeowner ready t...
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5 tips to get the mortgage that's right for you. From the AOL Partner Studio
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Knowing your mortgage rates won't rise anytime soon can give you peace of mind.
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House prices in Canada’s hottest cities are soaring, but the pressure to buy a home remains.
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Prospective homebuyers face a growing list of challenges -- from skyrocketing prices in Vancouver and Toronto, to soft conditions in Alberta, to another round of mortgage rule changes. But there are some good reasons 2017 is still a good year to buy a home in Canada.
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I think I speak for (almost) all Canadians when I say that Donald Trump's win came as a wee surprise. Now that the shock has worn off, just weeks before he takes office, Canadians everywhere are asking what this means for us. While the rumour mill churns, I'm left wondering what Trump's presidency means for Canada and our real estate market. Will Vancouver too, get trumped?
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As a mortgage broker working almost exclusively in B.C. for the last five years, I was curious to see how B.C.'s new foreign buyer tax and new mortgage qualifications would change my business. While some of the impact was predictable, I've been wholly surprised by its effect on other aspects.
Head of federal mortgage insurer calls for higher down payments.
There is no shortage of people out there talking about why you shouldn't put your money into a home. But in my opinion, particularly for women and minorities who have traditionally been disenfranchised, owning your own home can be nothing short of an awakening.