10 No-Fail Ways to Save to Buy a Home
A common new year’s resolution is to save money but it’s easier said than done, especially if you want to sock away enough for a down payment on a new home. (That’s no small chunk of change!) Here are 10…
When and How to Get Mortgage Pre-Approval
One of the most important things you need to do before you start house hunting is to get pre-approved for a mortgage. It provides a clear idea of what price range of homes you should be targeting to remain within…
How to Set a Budget for Buying a Home
It is important to figure out how much you can comfortably afford ahead of home hunting to avoid being house rich and cash poor after your purchase. Also, the more you know about your current financial situation, the better prepared…
June 2020 Real Estate Market Update
The COVID-19 pandemic is far from over but Toronto’s real estate market is acting otherwise — housing prices were up nearly 12% in June compared to the same month in 2019, and the number of homes sold was just shy…
New CMHC Rules to Hurt First-Time Homebuyers
People looking to break into the housing market may face an uphill battle come July 1. The country’s largest insurer of residential mortgages is tightening its lending rules for “riskier” borrowers, defined as those with less than 20% down payment.…
Your Credit Score’s Role in Buying a Home
Good credit is key to buying a home. Your three-digit score provides a snapshot of your financial health. It shows how consistently you pay off your bills and debts. Lenders will look at your credit history to determine how risky…
How COVID-19 could Affect Toronto Home Prices
Restrictive measures on personal movement will impact how quickly Toronto’s real estate market will roar back to life. If loosened and business activity resumes by the end of June, the Greater Toronto Area (GTA) may see a year-over-year increase of…
12 Ways Real Estate has Changed with COVID-19
Business has been anything but usual since the Ontario government deemed real estate an essential service amid the COVID-19 outbreak. While the decision brought a collective sigh of relief from the industry as it ensured buyers and sellers with a…
March 2020 Real Estate Market Update
Despite the warming spring weather, the housing market continues to cool as real estate listings dry up amid the COVID-19 pandemic. Toronto home sales plummeted 27% the last two weeks of March, after both the federal and provincial governments announced…
Stress Test Changes to Increase Buying Power
The busy spring home-buying season may be more frenzied as changes to the country’s mortgage stress test come into effect. Beginning April 6, Canadians applying for default-insured mortgages — those with less than 20% down payment on a new purchase…
