Several significant changes to the Canadian mortgage industry are set to take effect from now until the end of 2024. Here are the key updates: Higher Insured Mortgage Cap: Starting December 15, 2024, the insured mortgage cap will increase from $1 million to $1.5 million. This is aimed at making home ownership more accessible, especially in high-cost markets like Toronto and Vancouver. The new down payment requirements will be 5% on the first $500,000, 10% on the portion between $500,000 and $999,999, and 15-20% on the remaining portion up to $1.5 million. 30-Year Amortization for First-Time Home buyers: Also effective from December…
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The new upcoming mortgage rules
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Canada’s Real Estate Industry Just Asked OSFI To Loosen The Mortgage Stress Test
Original Article Source Credits: Better Dwelling, https://betterdwelling.com/
Article Written By: NA
Original Article Posted on: 13th May 2021
Link to Original Article: https://betterdwelling.com/canadas-real-estate-industry-just-asked-osfi-to-loosen-the-mortgage-stress-test
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Canadian Real Estate Sales Hit Highest Level Ever, As “Can’t Lose” Mindset Solidifies
Original Article Source Credits: Better Dwelling, https://betterdwelling.com/
Article Written By: NA
Original Article Posted on: 15th April 2021
Link to Original Article: https://betterdwelling.com/canadian-real-estate-sales-hit-highest-level-ever-as-cant-lose-mindset-solidifies
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Pattie Lovett-Reid: Waiting for a real-estate market correction? What you need to know
Original Article Source Credits: CTV News, https://www.ctvnews.ca/
Article Written By: Patricia Lovett-Reid
Original Article Posted on: 8th April 2021
Link to Original Article: https://www.ctvnews.ca/business/pattie-lovett-reid-waiting-for-a-real-estate-market-correction-what-you-need-to-know-1.5377834
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10 Simple Ways to Modernize Your Homes Exterior (and Boost its Value!)
Original Article Source Credits: HGTV , https://www.hgtv.ca/
Article Written By: Sharon Miki Chan
Original Article Posted on: January 11, 2021
Link to Original Article: https://www.hgtv.ca/renovations/photos/simple-ways-modernize-home-exterior-boost-value-1945338/
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Ontario Government Rolls Out New Condo Buyers Guide
Original Article Source Credits: Toronto Storeys , https://torontostoreys.com/
Article Written By: Ainsley Smith
Original Article Posted on: January 5, 2021
Link to Original Article: https://torontostoreys.com/ontario-condo-buyers-guide/
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Canadians haven't been this bullish about the housing market in at least ten years
Original Article Source Credits: Financial Post , https://financialpost.com/
Article Written By: Shelly Hagan
Original Article Posted on: Jan 11, 2021
Link to Original Article: https://financialpost.com/news/economy/hot-property-market-stokes-rising-optimism-for-canada-consumers
