Tag: down payment
Any down payment that totals less than 20 per cent of the property value will require mortgage default insurance, and be considered a high ratio loan.
While rising home prices are good news for sellers and buyers seeking a sound investment, they can also make it that much harder for some Canadians to enter into homeownership.
While many industry observers feel that the mortgage restrictions put in place by Finance Minister Jim Flaherty could lead to a crash in the Canadian real estate market, Flaherty feels that current figures are a positive sign, according to Financial Post. "I'm comfortable about where we are," he told Julian Beltrame of the Canadian Press. "I'm …
It seems that not every member of the Conservative cabinet is a huge fan of Finance Minister Jim Flaherty’s penchant for getting involved in the mortgage market.
Many Canadians, especially those who belong to the so-called Generation Y, are less than confident when it comes to their chances of financing a home purchase. Data from real estate firm Royal LePage shows that more than 72 percent of survey respondents born between 1980 and 1994 said they were pessimistic about their chances of …
While mortgage rates continue to hover near historic lows, there’s no doubt that Finance Minister Jim Flaherty’s mortgage tightening rules have cooled the Canadian housing market.