2023 brings with it the start of Canada’s new foreign buyers ban which came into effect on January 1st. Originally passed in June of last year, this ban is intended to help ease the high prices and housing affordability struggles that we have been seeing
As many of us are aware, amendments to the Strata Property Act were passed late last month. These changes remove rental restrictions in strata properties along with most age restrictions, creating opportunities for investors looking to purchase a rental property. If you were thinking about
Recently we have seen movement down in the bond markets, and therefore this could lower mortgage interest rates. This is due to economic data that has come out showing core inflation is subsiding. This is very early information but it appears that the Bank of
Did you know that if you want to buy a home with a down payment of less than 20%, you will need mortgage default insurance? By Canadian law, banks can only provide financing to qualified homeowners with a down payment of at least 20% unless
Since the news broke that the Bank of Canada has raised the prime rates by 0.75%, bringing us up to a total increase of 3% since the beginning of 2022, there has been a lot of talk of trigger rates. Many predict that we will
Recently, we have noticed many of our clients favouring a variable rate mortgage over a fixed rate. With interest rates climbing for much of the first half of 2022, it’s no surprise that many people are choosing the historically lower variable rate in order to
It’s no secret that the housing market has softened and with this comes an influx of new buyers. A lot of buyers will tend to go to their bank first to apply for a mortgage but this is quite often not the best option. Many
With the housing market cooling off a little, and house prices coming down; Senior Broker Dave Saran sees an opportunity for first-time buyers to get into the market and purchase their first home. “At Browne Mortgage, we see a lot of first-time buyers who think
There are a few common misconceptions among borrowers regarding if lenders are willing to finance mortgages in different provinces when you are moving to a whole new city. This is something that Dave Browne and Browne Mortgages are eager to explain and help with. Currently,
The 2022 federal budget announcement could be changing things for homeowners and prospective buyers alike. New measures are in place to address the high prices and the low number of homes available for sale. This trend has seen many prospective buyers priced out of the
