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Winter is a season that brings along chilly temperatures, snow, and icy conditions. While it is a beautiful time of year, it is crucial to take certain precautions and make necessary preparations to ensure that your home remains warm and cozy during this period. As you take the time to prepare your home for winter, you can not only protect your property from potential damage but also create a comfortable and inviting space to retreat to during the coldest months of the year.

A year ago, housing affordability dominated national conversations as the Canadian real estate market exploded in growth across major urban centres and rural communities alike.

This year, the conversation has ostensibly changed, with buyers, sellers, market analysts and industry experts discussing the path the Bank of Canada (BoC) will take in 2024 and immigration levels. Will the central bank cut interest rates next year or keep the policy rate higher for longer? How much will the immigration boom impact the Canadian real estate market?

Since the beginning of 2022, the Bank of Canada (BoC) has been on a crusade to vanquish inflation in the Canadian economy by engaging in a quantitative tightening (QT) campaign. This is a blend of raising interest rates and trimming its balance sheet, which is filled with government and corporate bonds and mortgage-backed securities.

Fast forward to the present, the central bank has raised interest rates to their highest levels since before the global financial crisis, lifting the overnight policy rate by 500 basis points to around five per cent.

Debt helps determine the borrowers’ creditworthiness and commitment to their financial obligations. Understanding the different types of debt and how they affect mortgage approval helps potential homebuyers take the necessary steps to get higher chances of securing a mortgage. Moreover, recognizing the factors when evaluating a borrower’s debt-to-income ratio will help individuals meet the criteria before applying for a mortgage.

Securing a pre-approval mortgage is the golden ticket that provides insights into your borrowing capacity and sets the stage for your house-hunting adventure. But what if you aspire to reach for a more substantial pre-approval amount, one that can unlock the door to your dream home? Whether you’re a first-time buyer looking to maximize your budget or a seasoned homeowner eyeing a larger investment, there are strategies you can use to take control of your financial profile and elevate your homebuying potential.

Should Canada’s banking regulators abandon the mortgage stress test for mortgage renewals? 

In 2016, the Canadian government introduced the mortgage stress test as a vital tool to curb risks associated with mortgage lending, especially when the Canadian real estate market experiences higher prices and lower interest rates. It was also amended in 2021 to require borrowers to prove they can maintain mortgage repayments that are 200 basis points above the contracted rate. 

When considering buying a property, Canadians are increasingly interested in newly constructed homes. They like the idea of a freshly-built property fitted with modern amenities and designed for energy efficiency. A new home is like a blank slate, allowing you to shape it according to your needs and personal style.

Another popular reason Canadians are looking into new homes is that they prefer master-planned communities. These are places where houses, parks, schools, shops, and recreation centers are all in one area, creating a holistic living environment. It’s a big draw for families who want a convenient, well-rounded lifestyle that fosters a sense of community. But while new homes often present several advantages, they come with a heftier price tag.

We explore the advantages and potential drawbacks of buying a newly-built home to help you make a more informed decision.

Canadian real estate has been a wild ride over the last couple of years. Here’s a look at 2024 predictions:

Canada Home Prices Expected to Rise in 2024 – But by How Much?

It has been a mixed year for the Canadian real estate market. The industry faced a tidal wave of challenges: rising interest rates, an economy that has slipped into a technical recession, depleted pandemic-era savings, and uncertainty in the housing sector.

Purchasing a property is a significant decision that involves carefully considering various factors, including location, condition, and price. For some buyers seeking unique opportunities in the Canadian real estate market, foreclosure properties present an alluring prospect. As these properties are typically sold at a lower price than their market value, they offer the potential for substantial cost savings and investment opportunities. Let’s learn more about the risks and rewards of purchasing foreclosure properties.