Millennials made up half of Canada’s first-time home buyers in 2018 The CMHC conducted the online survey in April of this year, getting feedback from 4,000 recent mortgage consumers who self-identified as the “prime household decision maker” and who had made a mortgage transaction in the past 12 months. Of those respondents, 68% renewed their mortgage, 15% refinanced one, 9% were first-time buyers and 7% were repeat buyers. Of those who were first-time buyers,... [read more]

The Millennial’s Guide to First-Time Home Buying (It’s Possible!!) What to know about embarking on home ownership, from navigating mortgage rules to finding a real estate representative   Home ownership. Two words that many millennials have been told are out of their reach. Mortgage rules designed to protect Canadians from becoming house poor make the process seem both expensive (it is) and overwhelming (it doesn’t have to be). But there is hope: 39% of... [read more]

A mortgage is a loan you get from a bank, credit union, or private lender to help you buy property like a house or condo This post will cover just about everything you need to know about mortgages from when to apply for one, how you pay the loan back, the deal with interest rates, the difference between fixed and variable rates, and how to work with mortgage brokers. When should I get pre-approved for a mortgage? It’s a smart move to get... [read more]