Tag: HomeBuyingCanada

  • Understanding the Current Mortgage Rate Trends: A Closer Look

    Understanding the Current Mortgage Rate Trends: A Closer Look

    April 18th, 2024: As homeowners with variable-rate mortgages eagerly await potential rate cuts from the Bank of Canada, the fixed-rate market is witnessing a different trajectory: an upward trend. Since early October, Government of Canada bond yields, which serve as a leading indicator for fixed mortgage rates, experienced a significant drop of 125 basis points,…

  • Empowering First-Time Buyers: Canada Extends Mortgage Amortization and RRSP Withdrawal Limits

    Empowering First-Time Buyers: Canada Extends Mortgage Amortization and RRSP Withdrawal Limits

    In a recent announcement, Finance Minister Chrystia Freeland unveiled significant measures aimed at easing the path to homeownership for first-time buyers across Canada. Effective August 1, the federal government will extend the allowable amortization period for insured mortgages on newly constructed homes to 30 years, a welcome relief for many aspiring homeowners grappling with soaring…