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[adiamondmortgage]

Navigating the Canadian mortgage landscape can feel like trekking through the you know. ?? The minimum down payment for a house in Canada starts at 5% of the purchase price for homes under $500,000.For homes over $500,000, it's 5% on the first $500,000 and 10% on the remainder. Equip yourself with knowledge, and the path becomes clear.#MortgageTips #HomeBuyingCanada.

[adiamondmortgage]

Throwback Thursday: Remember when saving for a house meant not buying that fancy coffee every day??? Well, times have changed, but our goals haven't. Let's find creative ways to get you into your dream home ? #aDiamondMortgage #thedifferencemortgage #yycmortgage #mortgagebroker #yycrealestate #calgaryhomes #calgaryrealestate #calgaryhomesforsale #calgarycondos #calgaryhomebuyer 

[adiamondmortgage]

Did you know, before banks became the go-to for home loans, people often relied on community funds or even their neighbors for a mortgage? #aDiamondMortgage #thedifferencemortgage #yycre #yychome #yychomesforsale #yycrealestate #calgaryhomes #calgaryrealestate

[adiamondmortgage]

Imagine turning the key to your new home, knowing you navigated the path of alternative financing...#aDiamondMortgage #thedifferencemortgage #yycre #yychome #yychomesforsale #yycrealestate #calgaryhomes #calgaryrealestate

[adiamondmortgage]

What's your biggest question about securing a mortgage through alternative financing in Canada? #aDiamondMortgage #thedifferencemortgage #yycre #yychome #yychomesforsale #yycrealestate #calgaryhomes #calgaryrealestate

[adiamondmortgage]

Navigating the waters of Alternative Financing in Canada can seem daunting, but did you know options like Credit Unions, Private Lenders...#aDiamondMortgage #thedifferencemortgage #yycre #yychome #yychomesforsale #yycrealestate #calgaryhomes #calgaryrealestate

[adiamondmortgage]

? Poll Time: Have you considered alternative financing for your mortgage needs in Canada? ? for Yes, I'm exploring options.? for No, I haven't...#aDiamondMortgage #thedifferencemortgage #yycre #yychome #yychomesforsale #yycrealestate #calgaryhomes #calgaryrealestate

[adiamondmortgage]

StatCan: Racial Borrowing Disadvantage Racial, sexual minorities at borrowing disadvantage – StatCan However, this was not the case for the Black population (48%) and recent immigrants (44%), as these segments were found to be more... ...as other research shows that established immigrants have larger mortgages than Canadian-born individuals and, as a result, Read Full: https://adiamondmortgage.com/statcan-racial-borrowing-disadvantage/ https://www.instagram.com/p/CXJ99RQById/?utm_medium=tumblr

[adiamondmortgage]

Mortgage Debt vs. Borrowing Activity Mortgage debt growth accelerates, but borrowing activity stalls – BoC Canada’s mortgage debt balance reached a new record high of $1.77 trillion in September, up 0.7% monthly and up 9.6% annually. However, the three-month annualized rate of growth dropped from 14.2% in June to 9.7% in September, implying that... “Some moderation in housing activity is inevitable, given the unsustainable levels that were reached early in the pandemic, and we have... Read Full: https://adiamondmortgage.com/mortgage-debt-vs-borrowing-activity/ #aDiamondMortgage #aDiamondMortgageTDM #thedifferencemortgage #tdmsweepstakes #yycre #yychome #yychomes #yychomesforsale #yychomebuyers #yycrealestate #calgaryhomes #calgaryrealestate #calgaryhomesforsale #calgaryhomebuyer #calgarymortgages #yycmortgage #yycmortgages #yycmortgagebroker #yycmortgagebrokers https://www.instagram.com/adiamondmortgage/p/CXHKQfzhenu/?utm_medium=tumblr

[adiamondmortgage]

Residential Mortgage Credit Risk Residential Mortgage Credit Risk Has Risen “Only Modestly,” Says OSFI That’s against the backdrop of “very significant” home price increases, which are up 23% as of October compared to a year ago (on a seasonally adjusted basis) to an average price of $716,585. In some markets... “Nevertheless, we consider the current imbalance between housing demand and supply to be a material prudential risk, and all actors in the Canadian housing system must take actions if we are to lessen the risk,” he said. “The greatest prudential risk... Full Read: https://adiamondmortgage.com/residential-mortgage-credit-risk/ #aDiamondMortgage #aDiamondMortgageTDM #thedifferencemortgage #tdmsweepstakes #yycre #yychome #yychomes #yychomesforsale #yychomebuyers #yycrealestate #calgaryhomes #calgaryrealestate #calgaryhomesforsale #calgaryhomebuyer #calgarymortgages #yycmortgage #yycmortgages #yycmortgagebroker #yycmortgagebrokers https://www.instagram.com/p/CXFFlWihsnd/?utm_medium=tumblr

[adiamondmortgage]

House Prices Rise Back! Average House Prices Rise Back Above $700k as Inventory Falls Removing the high-priced markets of the Greater Toronto and Vancouver areas, the average price stands at $561,585, up 17% year-over-year. There were 57,077 home sales in October, down 11.5% from a year earlier, but up 8.6% on a monthly basis, the largest month-over-month increase since July 2020, CREA noted. Meanwhile, housing inventory continues to be... -- Prices Expected to Keep Rising Until the BoC Hikes Interest Rates While CREA chair Cliff Stevenson noted that one month of data does not make a trend, some observers suggest the rise in prices is likely to continue until the Bank of Canada starts raising interest rates. And that goes for a wide cross-section of the real estate market, including... -- Full Read: https://adiamondmortgage.com/house-prices-rise-back/ #aDiamondMortgage #aDiamondMortgageTDM #thedifferencemortgage #tdmsweepstakes #yycmortgage #yycre #yychome #yychomes #yychomesforsale #yychomebuyers #yycrealestate #calgaryhomes #calgaryrealestate #calgaryhomesforsale #calgaryhomebuyer #calgaryhomebuyers #calgarymortgagebroker #calgarymortgages #yycmortgage #yycmortgages #yycmortgagebroker #yycmortgagebrokers https://www.instagram.com/p/CWW336kBcDm/?utm_medium=tumblr

[adiamondmortgage]

Housing Affordability Worsens Housing Affordability Worsens, Time Needed to Save for a Down Payment Increases The three housing markets that saw the greatest deterioration in affordability in the quarter were Vancouver, Victoria and Toronto. “Looking at data for November, mortgage interest rates have moved up nearly 25 basis points with the potential for further increases as monetary policy normalization intensifies,” the report noted. “We estimate that a hypothetical 100-bps increase in rates represents approximately a 12% reduction in... Read Full: https://adiamondmortgage.com/housing-affordability-worsens/ #aDiamondMortgage #aDiamondMortgageTDM #thedifferencemortgage #tdmsweepstakes #yycmortgage #yycre #yychome #yychomes #yychomesforsale #yychomebuyers #yycrealestate #calgaryhomes #calgaryrealestate #calgaryhomesforsale #calgaryhomebuyer #calgaryhomebuyers #calgarymortgagebroker #calgarymortgages #yycmortgage #yycmortgages #yycmortgagebroker #yycmortgagebrokers https://www.instagram.com/p/CWKQUjEpESa/?utm_medium=tumblr

[adiamondmortgage]

Rate Hikes Predictions Scotiabank economist predicts eight rate hikes in next two years Bank of Canada will likely raise its benchmark interest rate four times in the second half of next year and another four times in 2023... Read Full: https://adiamondmortgage.com/rate-hikes-predictions/ #aDiamondMortgage #aDiamondMortgageTDM #thedifferencemortgage #tdmsweepstakes #yycmortgage #yycre #yychome #yychomes #yychomesforsale #yychomebuyers #yycrealestate #calgaryhomes #calgaryrealestate #calgaryhomesforsale #calgaryhomebuyer #calgaryhomebuyers #calgarymortgagebroker #calgarymortgages #yycmortgage #yycmortgages #yycmortgagebroker #yycmortgagebrokers https://www.instagram.com/p/CWKJcuQr07w/?utm_medium=tumblr

[adiamondmortgage]

Bank of Mom and Dad Housing Affordability Worsens, Time Needed to Save for a Down Payment Increases The average amount gifted by family members to assist homebuyers has also risen dramatically since that year, a reflection of skyrocketing prices in the country’s hottest markets. The bank’s report showed that the average gifted amount has hit a record high of $82,000 in 2021, up from $52,000 six years before. With a 20% down payment on a home priced at $1 million or more deemed... Read Full: https://adiamondmortgage.com/bank-of-mom-and-dad/ #aDiamondMortgage #thedifferencemortgage #tdmsweepstakes #yycmortgage #yycre #yychome #yychomes #yychomesforsale #yychomebuyers #yycrealestate #calgaryhomes #calgaryrealestate #calgaryhomesforsale #calgaryhomebuyer https://www.instagram.com/p/CWJ_x9aAfcs/?utm_medium=tumblr

[adiamondmortgage]

Fine-tune finances for a mortgage How to fine-tune your finances for a mortgage The CMHC also changed the rules to allow buyers a higher ratio of expenses relative to their income. It said a borrower’s gross debt-service ratio – the share of monthly household income used to pay the mortgage and other housing costs – can go up to 39 per cent instead of 35 per cent, while the total debt-service ratio – the percentage of monthly household income that covers housing costs and any other debts – can go up to 44 per cent instead of 42 per cent. A preapproval will also determine if a borrower qualifies based on the stress test and debt-servicing ratios, since it involves the lender reviewing personal and financial information, including income and down payment and credit history. Read Full: https://adiamondmortgage.com/fine-tune-finances-for-a-mortgage/ #aDiamondMortgage #aDiamondMortgageTDM #thedifferencemortgage #tdmsweepstakes #yycmortgage #yyc #yycre #yychome #yychomes #yycluxuryhomes #yychomesforsale #yychomebuyers #yycrealestate #calgaryhomes #calgaryrealestate #calgaryhomesforsale #calgarycondos #calgaryhomebuyer #calgaryhomebuyers #calgarymortgagebroker https://www.instagram.com/p/CWCe4JtgSnd/?utm_medium=tumblr

[adiamondmortgage]

Home Sales “Cooling Off” Period B.C. B.C. Government Plans “Cooling Off” Period for Home Sales “Especially in periods of heightened activity in the housing market, it’s crucial that we have effective measures in place so that people have the peace of mind that they’ve made the right choice,” Robinson said. Seven-day cooling-off periods are already in place for... Read Full: https://adiamondmortgage.com/home-sales-cooling-off-period-b-c/ #aDiamondMortgage #aDiamondMortgageTDM #thedifferencemortgage #tdmsweepstakes #yycmortgage #yyc #yycre #yychome #yychomes #yycluxuryhomes #yychomesforsale #yychomebuyers #yycrealestate #calgaryhomes #calgaryrealestate #calgaryhomesforsale #calgarycondos #calgaryhomebuyer #calgaryhomebuyers #calgarymortgagebroker https://www.instagram.com/p/CV8iqnjt4vq/?utm_medium=tumblr

[adiamondmortgage]

Home Sales Remain Strong in Big Cities Home Sales Remain Strong in Big Cities as Demand Outstrips Supply In Vancouver, the supply of homes for sale dipped to a three-year low, while in the Greater Toronto Area the number of new listings was down by about a third. “Both the ownership and rental markets have recovered from the relatively short–term effects of the pandemic, but competition for ownership and rental properties is once again tight,” said John DiMichele, CEO of the Toronto Regional Real Estate Board (TRREB). Here’s a look at October readings from some of the country’s key real estate boards: Read Full: https://adiamondmortgage.com/home-sales-remain-strong-in-big-cities/ #aDiamondMortgage #aDiamondMortgageTDM #thedifferencemortgage #tdmsweepstakes #yycmortgage #yyc #yycre #yychome #yychomes #yycluxuryhomes #yychomesforsale #yychomebuyers #yycrealestate #calgaryhomes #calgaryrealestate #calgaryhomesforsale #calgarycondos #calgaryhomebuyer #calgaryhomebuyers #calgarymortgagebroker https://www.instagram.com/p/CV8WbJHBNhA/?utm_medium=tumblr