Mortgage misery awaits too many Canadian families

At the heart of the COVID-19 crisis sits the Canadian Mortgage and Housing Corp. and its low-income borrowers

Mortgage misery awaits too many Canadian familiesThe shutdowns ordered by Canadian governments to slow the spread of COVID-19 have caused unemployment to leap. And put mortgages in peril. Many of the millions of workers laid off have been low-income and lower-middle-income earners. They’re just the sort of people who qualify for home mortgages insured by the federal Canada Mortgage and Housing…

Canadian homebuyers remain hopeful despite challenging market conditions

Canadian homebuyers remain hopeful despite challenging market conditionsAlthough real estate is what economists call a 'lagging indicator', it appears that the first signs of a real slowdown are starting to be felt, especially in Canada's largest housing markets. After the initial response to news about the spread of Covid-19, which entailed drops in traffic on real estate platforms like Point2 Homes and…

Mortgage requirements a barrier to homeownership

The second biggest worry for buyers is whether they can afford the mortgage payment, say more than half of Canadians

Mortgage requirements a barrier to homeownershipA new survey says 56 per cent of Canadians see qualifying for a mortgage as a barrier to homeownership. This is up six points from a year ago. The report by Zillow also found that this concern rises to 64 per cent for consumers who recently purchased a home, likely linked to the mortgage regulation…

Millennials lack basic home buying knowledge: survey

Average first-time buyer will take more time browsing Netflix than choosing a real estate agent

Millennials lack basic home buying knowledge: surveyA new study finds that millennials lack understanding of the total cost of buying a home and the majority hire the first real estate agent they meet. The study, by Nobul, a digital marketplace that matches homebuyers and sellers with real estate agents, found that 67 per cent of prospective millennial home buyers agree finding…

High-tech real estate transactions with human connections

Lauren Haw on how Zoocasa seeks to streamline the often-emotional real estate journey for clients

High-tech real estate transactions with human connectionsLauren Haw is Zoocasa's CEO and broker of record. What is Zoocasa and what does it do? Haw: At Zoocasa, we provide intelligent, modern real estate services through the seamless integration of technology and our full-service brokerage team. We aspire for a real estate experience that’s enhanced by technology, but grounded in human connections. Real…

Zillow adds new Canadian construction to online listings

Zillow adds new Canadian construction to online listingsBy Troy Media North American online real estate company Zillow has launched Canadian new construction listings on its website and mobile app to increase connections between home builders and potential buyers. On Tuesday, the company announced Brookfield Residential, a leading North American home builder, as the first builder to have its homes displayed on Zillow…

Top 6 most affordable cities to buy a house

Study on affordable cities to buy a house says Regina, Saskatoon, Winnipeg, Halifax-Dartmouth, Calgay and Edmonton are the top six

Top 6 most affordable cities to buy a houseJust how feasible would it be for a household on a median income to purchase real estate in Canada? According to a new study by Zoocasa of 15 major urban centres across the country, such a household would be able to afford the local benchmark-priced home in their region in a total of eight markets,…

A clear-eyed look at the first-time home buyers aid program

Robert McLister, managing editor of Rates.ca, talks about the pitfalls of the government program and why fewer Canadians are likely to take part than anticipated

A clear-eyed look at the first-time home buyers aid programRobert McLister is managing editor at Rates.ca. What is Rates.ca? McLister: Rates.ca compares insurance, mortgages and credit cards from dozens of companies across Canada. By juxtaposing numerous providers, it's easier for consumers to quickly compare terms and find the best prices. How does the new down payment assistance program for first-time homebuyers work? McLister: The…
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