The big news this week is that the heads of Scotia Bank and National Bank are urging Ottawa to increase the Minimum Down Payment on all homes under $1 Million to at least 10%. As it stands Home buyers in Canada today must put a minimum of 5% Down Payment on all homes under $500k…
DetailsThe dawn of the new mortgage rules is upon us. Just as the dawn of a new day reveals the storm clouds that we will face, so do the months of January and February reveal to us how the year will shape up for real estate in 2017. The last set of changes put in…
DetailsCMHC raises premiums again. Effective March 17th The Canadian Mortgage and Housing Corporation will be significantly raising rates. The media and CMHC can sugar coat it all they want. The increase will hit Canadians and Monoline lenders hard. The new rates will see premiums jump to unprecedented values. that will have a long-lasting impact on the average…
DetailsThe federal government is looking for new ways to help millennials get into the housing market, the finance minister said this week. Bill Morneau told a business audience just outside Toronto that one of the planks of his upcoming budget will be assistance for younger buyers looking to get into the market, according to a…
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