For All Your Real Estate Needs in Halifax & Surrounding Area
Paul DeAdder | Real Estate Sales Representative Serving 
Halifax & Surrounding Area | Sutton City Realty Inc., Brokerage

first time home buyers News and Articles | My Blog

Here's why a mortgage broker thinks a 30-year amortization is a 'trap'

10/25/2024 | Posted in Home Buyers by Paul DeAdder

home-buying-financing-concept-261.jpg - Real Estate News

The federal government allowed 30-year mortgage amortizations for first-time homebuyers purchasing new builds in August, and the new rules are set to expand in December to ... More


Federal government releases technical details of its latest mortgage changes

9/25/2024 | Posted in Government and Regulation by Paul DeAdder

ChrystiaFreeland-GovernmentofCanada-520.jpg - Real Estate News

As a follow-up to last week’s announcement, the federal government has unveiled a more detailed framework for its updated mortgage rules, which are set to take effect on ... More


Canada's 30-year mortgage option has officially launched

8/2/2024 | Posted in First Time Home Buyers by Paul DeAdder

couple-browsing-for-homes-444.jpg - Real Estate News

The Canada Mortgage and Housing Corporation (CMHC) has officially launched Home Start, a 30-year mortgage option for first-time homebuyers purchasing newly constructed homes. ... More


First-time buyers relying on gifted down payments more than ever

7/29/2024 | Posted in First Time Home Buyers by Paul DeAdder

young-family-moving-in-a-new-home-451.jpg - Real Estate News

Mortgage down payment gifts from family members remain a crucial factor for first-time homebuyers in Canada, even as the housing market cools and economic conditions ... More


More than one-third of first time Ontario homebuyers get help with down payments. A new report suggests the gifts average $128K

6/25/2024 | Posted in First Time Home Buyers by Paul DeAdder

home-buyers-447.jpg - Real Estate News

More than one-third of first-time homebuyers in Ontario are getting help with their down payment and the average gift now tops $100,000, according to a report from CIBC.

... More


The Liberals' savings account for first-time homebuyers mostly got only small deposits

6/1/2024 | Posted in First Time Home Buyers by Paul DeAdder

home-piggy-bank-251.jpg - Real Estate News

New home savings accounts have been used by 624,000 Canadians according to tax data, with a median deposit of $2,040.

... More


Fixed mortgage rates are rising. What's the deal?

4/18/2024 | Posted in Home Buyers by Paul DeAdder

market-reports-on-business-271.jpg - Real Estate News

As variable-rate mortgage holders eagerly anticipate the Bank of Canada’s first rate cut, fixed rates are heading in the other direction: up.

... More


Ottawa to allow 30-year amortization for first-time buyers' mortgages on new homes

4/11/2024 | Posted in Government and Regulation by Paul DeAdder

home-buying-financing-concept-261.jpg - Real Estate News

Some advocates are praising Ottawa’s move to lengthen the amortization period on insured mortgages for certain homebuyers, but say expanding the policy to all Canadians ... More


Variable or short-term fixed mortgage? Where experts see the "sweet spot"

3/13/2024 | Posted in Mortgages and Real Estate by Paul DeAdder

mortgage-rates---interest-rates-48.jpg - Real Estate News

The Canadian mortgage space is already seeing some rates on offer decline heading into the spring market, despite no clear indication yet from the Bank of Canada that interest ... More


CMHC to scrap First-Time Home Buyer Incentive and refocus funding on other tools

3/2/2024 | Posted in Home Buyers by Paul DeAdder

cmhc-news-7.jpg - Real Estate News

The federal government has announced it will be discontinuing its First-Time Home Buyer Incentive (FTHBI) program as of March 21.

... More


One-third of Canadians considering alternative home ownership models amid low affordability

2/27/2024 | Posted in Home Buyers by Paul DeAdder

first-time-home-buyers-22.jpg - Real Estate News

One third of Canadians are considering alternative home ownership models, a new survey has found, as purchasing a home remains out of reach amid an ongoing affordability ... More


Tax advantages driving exodus from Canada's priciest housing markets

2/6/2024 | Posted in Canada Living by Paul DeAdder

young-family-moving-in-a-new-home-451.jpg - Real Estate News

A new report published today reveals that the burden on buyers from provincial governments’ billions of dollars in levies and development fees on new construction, and ... More


Rise in bond yields could send fixed mortgage rates higher, experts say

1/18/2024 | Posted in Mortgage Interest Rates by Paul DeAdder

mortgage-rates---interest-rates-48.jpg - Real Estate News

This week’s rise in bond yields could cause some lenders to reverse recent fixed mortgage rate cuts, experts say.

... More


Latest in Mortgage News: OSFI leaves stress test rate unchanged

12/13/2023 | Posted in Mortgages and Real Estate by Paul DeAdder

osfi-94.jpg - Real Estate News

Canada’s banking regulator confirmed it will leave the mortgage stress test for uninsured mortgages unchanged.

... More


No end in sight to housing affordability crisis, says BMO's Guatieri

8/28/2023 | Posted in Canadian Housing Market by Paul DeAdder

couple-browsing-for-homes-444.jpg - Real Estate News

The Bank of Canada's June and July interest rate increases essentially put a stop to the housing market’s recovery, says analyst.

... More


1 in 5 homebuilders are nixing projects amid high rates. Here are your rights

8/18/2023 | Posted in New Developments by Paul DeAdder

new-construction-w-supervisors-285.jpg - Real Estate News

Many Canadian homebuyers waiting patiently for construction to finish on their pre-sale unit are being met with cancellation notices from developers. The building environment ... More


What impact might OSFI's new proposals have on borrowing costs?

7/26/2023 | Posted in Mortgages and Real Estate by Paul DeAdder

mortgage-application-form-247.jpg - Real Estate News

The plan might help safeguard the stability of the financial system - but could also see mortgage costs rise.

... More


Fixed mortgage rates surge again, pushing rates under 5% to the brink

6/16/2023 | Posted in Mortgages and Real Estate by Paul DeAdder

financial-markets-report-272.jpg - Real Estate News

Fixed mortgage rates are once again on the rise, with rates under 5% quickly becoming a distant memory.

... More


Ontario's first-time buyers prefer detached homes and townhouses over condos

3/14/2020 | Posted in Ontario Real Estate by Paul DeAdder

middle-age-couple-visiting-house-263.jpg - Real Estate News

Condo developers in Ontario looking to sell units to millennials and first-time home buyers could be barking up the wrong tree, according to a new survey from OREA.

... More


10 first-time homebuyer trends

2/24/2020 | Posted in First Time Home Buyers by Paul DeAdder

home-buyers-447.jpg - Real Estate News

Genworth Canada’s 2019 First-Time Homeownership Study provides a snapshot of the demographics of Canada’s first-time homebuyers (FTBs), what’s motivating them ... More


OSFI considering new benchmark rate for uninsured mortgages

2/19/2020 | Posted in Mortgages and Real Estate by Paul DeAdder

couple-laptop-106.jpg - Real Estate News

The Office of the Superintendent of Financial Institutions (OSFI) has announced that it is considering a new benchmark rate to determine the minimum qualifying rate for ... More


Drive until you qualify

2/10/2020 | Posted in GTA Real Estate by Paul DeAdder

stressed-couple-244.jpg - Real Estate News

Mortgage stress test forces homebuyers further outside GTA to find house they can afford.

... More


Initiative to increase tax rebate for first-time buyers in Toronto

1/27/2020 | Posted in Toronto Real Estate by Paul DeAdder

home-buyers-447.jpg - Real Estate News

Two city councillors are pushing for a rethink of Toronto's municipal land transfer tax rebate for first-time home buyers, suggesting the cap should be increased to match ... More


Owning a home is a pipedream for many Canadian millennials

12/13/2019 | Posted in Home Buyers by Paul DeAdder

couple-browsing-for-homes-444.jpg - Real Estate News

Millions of Canadian millennials feel they may never be able to follow previous generations into homeownership according to a new survey.

... More


CMHC's Siddall Defends Policies, Provides Update on the FTHBI

11/22/2019 | Posted in Canadian Housing Market by Paul DeAdder

calculator--analysis--reporting-128.jpg - Real Estate News

Some fresh information on the status of the First-Time Home Buyer Incentive (FTHBI) and a possible increase on the $1M cap for insured ... More


Newcomers represent one in five home purchases in Canada

10/16/2019 | Posted in Canadian Housing Market by Paul DeAdder

business-planning-consultation-265.jpg - Real Estate News

This demographic is likely to account for nearly 700,000 home sales over the next five years.

... More


What to know about the Liberals' new housing-incentive promise

9/16/2019 | Posted in Home Buyers by Paul DeAdder

sold-home-for-sale-260.jpg - Real Estate News

In an election announcement on Thursday, Liberal Party Leader Justin Trudeau promised to turbocharge the First-Time Home Buyer Incentive (FTHBI) for Canadians who live in ... More


Despite new details, First-Time Home Buyer Incentive is flawed

6/18/2019 | Posted in First Time Home Buyers by Paul DeAdder

middle-age-couple-visiting-house-263.jpg - Real Estate News

While more details about the First-Time Home Buyer Incentive were released this week, there remains a glaring problem.

... More


First-Time Home Buyer Incentive To Launch In September

6/18/2019 | Posted in Home Buyers by Paul DeAdder

new-home-plans-246.jpg - Real Estate News

The incentive will allow eligible first-time homebuyers who have the minimum down payment for an insured mortgage with CMHC, Genworth or Canada Guaranty, to apply to finance a ... More


Price growth expectations and financial risk: top influences for homebuyers

6/13/2019 | Posted in Home Buyers by Paul DeAdder

couple-laptop-106.jpg - Real Estate News

Three quarters of homebuyers in three of Canada's largest housing markets are not willing to take financial risks when buying a home, ... More


FOR SELLERS
Are you thinking of selling your property
and would like to know how much it can sell for?
Click here to get your property appraised for FREE!
FOR BUYERS
Thinking of buying a home or investment property?
Sign-up for FREE to get immediate access to listings
in your desired area as soon as they hit the market!
PROPERTY SEARCH IN GTA
Are you thinking of buying your first property,
downsizing, or upgrading to bigger and better?
Click here to search through thousands of listings!