Canadian Interest Rates Are At 2001 Levels, But Home Prices Grew 3x Income: BMO
BMO's latest report on Canadian real estate affordability paints a bleak picture for young adults, with affordability worse than it has been since 1988. The […]
Mortgage Blog
Canadian Regional Housing Market Trends for Fall 2023
Regional outlooks vary significantly, with some cities predicted to see price increases, while others may experience declines.
Income Requirements for Mortgages Increase Across Canada, Except in British Columbia
According to research from online mortgage provider Nesto, the income required to qualify for a mortgage in most provinces in Canada has increased, except for […]
Addressing Housing Affordability in BC
International migration fuels population growth in BC, outpacing housing supply. ~180K people has moved to BC in 2022, while only ~40K new housing units were […]
BC Housing Market Rebound Projected in 2024
Home sales volumes are expected to ↓ ~5% in 2023, but ↑ 12% in 2024 and ↑ 14% in 2025.
Most Affordable Cities to Buy a Home in British Columbia
Home prices rising in Lower Mainland, prompting buyers to seek affordable options. Kamloops is the most affordable city, with avg home price of $539.8K, and […]
Bank of Canada Interest Rate Hikes Slow Housing Market Rebound
The Bank of Canada’s consecutive interest rate hikes have impacted the housing market rebound this summer, with July sales dipping for the first time in […]
Housing Starts Plummeting in Canada
Housing starts in 2023 nearing the historic low of 1998 despite the housing shortage, particularly notable in Montreal.
Moving From a Condo to a Home in Canada
Houses in Canada are ~40% more expensive than condos on a national level, taking over 2-yr worth of income to cover the difference. Vernon has […]