Mortgage Bytes

  • Condos People are buying more condos as housing affordability gets tight.  1 in 2 home sales in Vancouver and Victoria is a condo. In Edmonton, Calgary and the GTA, it’s about 1 in 3.  CMP
  • Do you need a down payment for your first home?  Canada’s Home Buyers Program lets you and your spouse each withdraw $20,000 from your RRSP to make the purchase–tax and interest free.  Halifax Daily News
  • “At this point, we see a rate hike in July as a near certainty,” says TD Securities economist Jacqui Douglas.  That comes despite news that Canada’s May inflation rate was 2.2%–a bit tamer than expected. 
  • Over the past 10 years the Bank of Canada has never stopped raising rates after just one increase.  Vancouver Sun
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Majority of Canadian Buyers Borrowing Their Maximum Approved Mortgage
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