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Halifax & Surrounding Area | Sutton City Realty Inc., Brokerage

first time home buyers News and Articles | My Blog

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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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


Canadian mortgage rates falling to their lowest level in 2 years

6/7/2019 | Posted in Interest Rates by Paul DeAdder

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Spring is typically a busy time for home sales, so lenders are competing fiercely right now for new business — and that's adding up to record low rates for ... More


Housing demand is stronger than we're told: CIBC

5/15/2019 | Posted in Home Buyers by Paul DeAdder

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Canada needs to be building more homes to meet demand which is greater than official figures suggest.

... More


CMHC's Siddall Warns Homeownership 'Party' Coming to an End

5/11/2019 | Posted in Canadian Housing Market by Paul DeAdder

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The head of the Canada Mortgage and Housing Corporation (CMHC) gave a candid assessment of the country’s housing market, saying the “party” of homeownership ... More


Down payments are the biggest fear for first-time buyers

5/10/2019 | Posted in First Time Home Buyers by Paul DeAdder

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Having a sufficient down payment to afford the home they want is the largest concern of first-time buyers according to a new survey.

... More


CMHC releases statement on Liberals' mortgage plan

4/4/2019 | Posted in Home Buyers by Paul DeAdder

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Canada's housing agency says new spending measures aimed at helping first-time buyers afford homes won't push prices up more than a few tenths of a percentage ... More


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