Mortgage rule changes and increasing interest rates—surprisingly—weren’t the top motivators for prospective homebuyers in 2017, according to a new survey from the Canada Mortgage and Housing Corporation (CMHC). Instead, the 2018 Prospective Home Buyers Survey found that improved accessibility (i.e., fewer physical obstacles and barriers) and investment opportunity were the main driving factors to purchase a home.
It’s not an easy time to be a millennial home buyer in Vancouver. Increasingly high prices, low inventory and new mortgage qualification changes have made it a challenging time for young adults to enter the local real estate market. Market conditions in Vancouver have millennials feeling “left out” of the idea of home ownership, and have even
Get ready for a rate shock adjustment that is expected to accelerate in 2019 The Bank of Canada raised its benchmark interest rate to 1.25 per cent Wednesday and signalled that, barring certain risks, more hikes are likely in the rest of the year. That’s creating an unusual situation for Canadians: for the first time in years,
