August 26 2021
As we near the end of summer, the Canadian housing market seems to be showing signs of slight cooling down and the possibility of inviting more opportunity for first-time buyers. From mortgage rate policy changes to the upcoming election, here’s a look at the latest mortgage news over the month of August.
From making a down payment and getting approved for a mortgage to keeping up with rising prices, it’s common for new buyers to get overwhelmed by the process. Our CEO & Co-founder Jesse Abrams discusses four essential tools first-time buyers can use as they embark on the journey to buy a home in Canada.
Many industry experts are confident that the Canadian real estate market is on the road to balance. According to CREA, national home sales dropped 8.4 percent month-over-month back in June. Read more to learn what this could mean for potential home buyers moving forward.
As the election campaign progresses, one of the biggest priorities for Canadians is to consider the soaring cost of housing in the country. Recently, the Conservatives and NDP expressed their promise to address the problem and how they’ll be coming to a solution.
In a recent survey, 70% of Canadians stated that they feel pretty good about their financial outlook, while some still remain cautious about adding to their debt. A report issued by the TransUnion Canada Credit Industry highlighted that the country’s borrowing patterns seem to be moving closer to pre-pandemic levels.
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