Why Getting Pre-Approved Early Can Save You Time, Money, and Stress One of the most common questions first-time home buyers ask is, "When should I get pre-approved for a mortgage?" The simple answer is before you start looking at homes. Many buyers begin touring properties before speaking with a mortgage broker, only to discover
Understanding Closing Costs Before You Buy Your First Home When buying your first home, it's easy to focus on saving for the down payment. However, many first-time buyers are surprised to learn that there are additional expenses that need to be paid before they receive the keys. These expenses are known as closing costs,
What Are the Steps to Buying a Home for First-Time Home Buyers? Buying your first home is an exciting milestone, but it can also feel overwhelming if you don't know where to begin. Understanding each step before you start house hunting can help you avoid costly mistakes and make the process much less stressful.
What Is a Minimum Down Payment? A down payment refers to the amount of money you contribute toward the purchase of a home. This amount is deducted from the purchase price by the lender, with the remaining balance financed through a mortgage. The minimum down payment required is based on the purchase price of
Bank of Canada Meeting & Notes The Bank of Canada kept its target for the overnight rate at 2.25% this past week, which means the Prime Rate will stay at 4.45% for the next 6 weeks. The Bank noted that the conflict in the Middle East is now in its fourth month, contributing to
Average asking rent in Canada fell to $2,008 in March, a 35-month low, down 5.3% year-over-year ($112) and marking the 18th consecutive decline. Rents decreased 1.1% month-over-month and 2.5% year-to-date, and are down 8.8% ($194) from the May 2024 peak. Over two years, rents are down 7.9% and just 0.2% higher than March 2023.
Mortgage rates have now flattened out for quite some time and are back in their normal range that existed before the ultra-low covid rates. Given this, as well as the fact that prices have softened in some markets across the country, we have to ask ourselves why the housing market still remains soft for
The Bank of Canada’s most recent meeting on December 10, 2025 held no surprise for analysts last week. Holding rates firm at 2.25%, the Board remarked in its official statement, “Canada’s economy grew by a surprisingly strong 2.6% in the third quarter” and “Employment has shown solid gains in the past three months”, with
On November 4, the Canadian Finance Minister delivered the 2025 Federal Budget to the House of Commons. With this being the first budget of the New Prime Minister, it has been awaited eagerly. It is to be noted that this budget has yet to be voted on. The projected budget deficit is at $78.3
Finding a home that meets all your criteria can be challenging, often requiring compromises between your must-haves and bonus features. However, if you dream of a custom-designed home that includes every detail on your wishlist, getting a construction mortgage and building from scratch could be the ideal solution. With the help of a
