by Majid Habibi | May 5, 2023 | Blog, Economy, Mortgage
Canada Mortgage and Housing Corporation (CMHC) expects home prices to bottom out this year, but they aren’t expected to fall below pre-pandemic levels. That was the takeaway from the agency’s spring Housing Market Outlook, which said weaker growth and higher mortgage...
by Majid Habibi | Apr 21, 2023 | Blog, Homeownership
First-time homebuyers can now take advantage of an extra downpayment savings tool as of April 3rd, 2023 in the form of the First Home Savings Account (FHSA) courtesy of the federal government. The FHSA combines the benefits of both a registered retirement savings plan...
by Majid Habibi | Apr 7, 2023 | Blog, Homeownership
On March 27th, the federal government announced amendments to the Prohibition on the Purchase of Residential Property by Non-Canadians Act’s accompanying Regulations to enhance the flexibility of newcomers and businesses looking to add to Canada’s housing...
by Majid Habibi | Mar 17, 2023 | Blog, Homeownership, Mortgage
It’s no surprise that many Canadians are feeling the pinch of higher iHow are Canadians Feeling About Homeownership in Today’s Market? The latest information from Mortgage Professionals Canada’s 2022 Year-End Consumer Survey, released in March 2023, provides a wealth...
by Majid Habibi | Mar 3, 2023 | Homeownership, Mortgage
Are you worried about being turned down for a mortgage or not being able to renew with your existing lender? If so, you’re not alone. Mortgage qualification is more difficult right now due to higher interest rates and lower property values. Fortunately, mortgage...
by Majid Habibi | Feb 17, 2023 | Announcements, Economy, Finance
In its very first summary of deliberations released this month, the Bank of Canada (BoC) pointed to a tight labour market, strong GDP growth and the risk of inflation getting stuck above 2% as the rationale for raising its key rate by a quarter of a percentage point...
by Majid Habibi | Feb 3, 2023 | Blog, Finance, Homeownership
The federal government is providing a new tax credit to help make it easier for Canadians to care for adult relatives in their own homes. The multi-generational home renovation tax credit took effect January 1st for expenses related to building a secondary suite for a...
by Majid Habibi | Jan 20, 2023 | Blog, Homeownership, Mortgage
Canada’s banking regulator – The Office of the Superintendent of Financial Institutions (OSFI) – announced three new regulatory proposals in January that could further limit mortgage Three NewThree New Regulatory Proposals Could Restrict Mortgage Borrowing Power...
by Majid Habibi | Jan 6, 2023 | Blog, Homeownership, Mortgage
Most regions of the country (60%) are expected to shift into balanced market territory in 2023 – a trend that’s already starting to materialize as a result of current economic conditions – after a seller’s market dominated for much of the pandemic, says RE/MAX...
by Majid Habibi | Dec 16, 2022 | Blog, Homeownership, Mortgage
There are many benefits to homeownership in any market. It’s important not to let the media tarnish your homeownership journey. And with average rent in Canada rising nearly 12% year-over-year in October 2022 to almost $2,000 – according to the National Rent Report –...
