down payments Archives - Mortgage Rates & Mortgage Broker News in Canada

Yukon launches first-time homebuyer loan program to pay up to half of down payments

April 24, 2025 No Comments

Yukon’s government is launching a first-time homebuyer program in the territory that will see eligible residents receive low-interest loans to help with down payments.

Thinking of gifting a down payment this holiday season? Here’s what you should know

December 22, 2024 No Comments

With the holiday season in full swing, many Canadians are focused on gift giving. For some, that includes helping loved ones take their first steps toward homeownership with a financial contribution for their down payment.

Seven in 10 mortgage holders anxious about upcoming renewal, MPC survey reveals

December 20, 2024 No Comments

However, MPC’s latest consumer survey also revealed improving consumer sentiment, with more Canadians believing that now is a good time to buy a home.

What you need to know before helping your child with a home down payment

October 31, 2024 No Comments

With the benchmark prices for a home in Toronto or Vancouver at over a million dollars, the prospect of saving enough for a down payment to enter the real estate market can be a daunting task for first-time buyers.

Proof of down payment: The biggest hurdle for mortgage professionals

August 2, 2024 1 Comment

For mortgage professionals, verifying a client’s down payment sources can be one of the most challenging aspects of the mortgage approval process.

Homeownership costs easing, but “long way to go” before affordability is restored: RBC

July 4, 2024 No Comments

Borrowers experienced a slight reduction in homeownership costs in the first quarter, despite affordability remaining near its worst level ever.

Here’s why prospective first-time buyers should open a First Home Savings Account

December 19, 2023 No Comments

The new First Home Savings Account (FHSA) is being hailed by some as “the greatest deal in the history of Canadian savings.”

Optimism prevails among first-time and prospective homebuyers despite economic challenges, survey finds

June 20, 2023 No Comments

Despite rising interest rates and a challenging economic environment, first-time and prospective homebuyers are much more optimistic about Canada’s housing market compared to the general population.

Housing affordability worsened in Q2, but should improve due to falling prices

August 22, 2022 No Comments

Housing affordability in Canada reached its worst level in 41 years in the second quarter, which is shortly after home prices peaked.

Time needed to save for down payment growing

Housing Affordability Worsens, Time Needed to Save for a Down Payment Increases

November 10, 2021 No Comments

Even before fixed mortgage rates started rising last month, housing affordability continued to deteriorate in the third quarter.

down payments