Canadian banks expected to tighten home equity line of credit access as aid measures wind down

Real Estate DAZADA DIAMOND 30 Apr

Canadian banks expected to tighten home equity line of credit access as aid measures wind down As lockdowns ease and businesses reopen in the fall, and federal aid and mortgage deferrals wind down, borrowers will likely try to tap home equity lines of credit, particularly if unemployment remains elevated. Cole Burston/Bloomberg files Article content TORONTO […]

Read More

Coronavirus outbreak to exert downward pressure on Alberta housing

Real Estate DAZADA DIAMOND 29 Apr

Coronavirus outbreak to exert downward pressure on Alberta housing The impact of the COVID-19 pandemic on the already-battered Alberta housing segment will persist over the next few quarters, according to the Alberta Real Estate Association (AREA). “This is an unprecedented time with a significant amount of uncertainty. It is not a surprise to see these […]

Read More

Aging population means advance planning for homebuyers

Down Payment & Buying DAZADA DIAMOND 28 Apr

Aging population means advance planning for homebuyers Canada’s population is aging and the country is set to have a significant increase in seniors in the coming years but is the housing market ready? A new report from Sotheby’s International Realty Canada and the Mustel Group, reveals that aging homeowners are concerned about their living arrangements […]

Read More

Canadian reverse mortgage debt tops $4BN for first time

Down Payment & Buying DAZADA DIAMOND 27 Apr

Canadian reverse mortgage debt tops $4BN for first time Reverse mortgage debt increased 13 per cent over one year, as more seniors choose to stay in their homes Reverse mortgage debt, which helps senior homeowners live off the equity in their homes rather than having to downsize, has topped $4 billion for the first time. […]

Read More

Canada’s Housing System Is Cracking under the Crisis

Latest News & Economy DAZADA DIAMOND 24 Apr

Canada’s Housing System Is Cracking under the Crisis Renters are asking why they should pay their landlords, while landlords fear losing their own housing. In Canada’s most unaffordable housing market, Mazdak Gharibnavaz is waiting to hear whether a $300 rent supplement from the BC government will come through in time to pay rent on May […]

Read More

Recession’s on its way. How bad will it be?

Latest News & Economy DAZADA DIAMOND 22 Apr

Recession’s on its way. How bad will it be? In its most recent Market Intelligence report, released yesterday, the British Columbia Real Estate Association shared its preliminary projections on how the historic economic disruption sparked by COVID-19 will play out in the provincial housing market for the next two years. In Is It Different This […]

Read More

Sales, prices in Alberta’s housing markets going downhill

Real Estate DAZADA DIAMOND 20 Apr

Sales, prices in Alberta’s housing markets going downhill Alberta continues to reel from the one-two punch of the oil shock and COVID-19, with Calgary and Edmonton posting downward trends in their home prices. Sales in Calgary were more active during the first quarter compared to the same time last year, but the market’s average home […]

Read More

CREA: National home sales weakened markedly last month

Real Estate DAZADA DIAMOND 17 Apr

CREA: National home sales weakened markedly last month The coronavirus pandemic has drawn first blood as national home sales declined by 14.3% month-over-month in March, according to data from the Canadian Real Estate Association (CREA). “March 2020 will be remembered around the planet for a long time. Canadian home sales and listings were increasing heading […]

Read More

The Top 7 Misconceptions About Reverse Mortgages

Mortgage Tips DAZADA DIAMOND 16 Apr

The Top 7 Misconceptions About Reverse Mortgages How much do you really know about reverse mortgages? Maybe you know that reverse mortgages can help Canadians 55+ access the equity in their home, tax-free. Maybe you know that tens of thousands of Canadians are using a reverse mortgage as part of their financial plan. But did […]

Read More