decision - Appartement de Ville

17/04/2024

How will the Bank of Canada’s interest rate decision impact real estate?

Real estate experts say many potential homebuyers are waiting for rate cuts before entering the real estate market following the Bank of Canada’s latest decision to hold rates, but demand remains high for some properties.

Victor Tran, mortgage and real estate expert at Ratesdotca, said in a statement to BNNBloomberg.ca Wednesday that the housing market “continues to be in a holding pattern” characterized by tight supply and “stiff competition for desirable properties.”

“While some consumers are willing to take on higher interest rates now to avoid the expected frothy market when rates drop, others are tired of waiting for rate drops and are losing faith that rates will decline as far and as fast as previously predicted and are stepping back from the search,” Tran said.

Tran’s comments come after the Bank of Canada elected to hold its policy rate at five per cent on Wednesday for the sixth consecutive

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14/11/2023

Renting Vs Buying: the Decision for Homeownership

The ideal spend for housing costs — including the mortgage payment, property taxes, homeowners insurance and homeowners association dues — is 28 percent of your gross monthly income. For all of your monthly debt payments, including housing costs, the ideal spend is 36 percent. Wouldn’t it be great if buying a home were as simple as it is in a game of Monopoly?

If you are thinking of buying a property in Jakarta, there are a few things you should keep in mind.
Use Bankrate’s Housing Affordability Calculator to get a picture of your budget.
Several factors may be at play here, but the offer and appraised value should be close for your lender to finalize your home loan.
Now, even with rising mortgage rates, demand still remains relatively hot, at least at the time the report was released in October 2022.

Keystart is an initiative sponsored by the WA …

19/06/2023

Renting Vs Buying: the Decision for Homeownership

If you’re buying a home, it’s highly recommended that you obtain a property inspection and make your purchase offer contingent on the findings of the inspection. Budget for a few things that you’ll need to pay for between the time you place your offer on a home and your closing date. Although you may be thinking about saving money for a down payment on a home, it may be a good idea to be sure you have plenty of money to cover the costs of repairs throughout the year. Buying the new house before selling can remove the hassle of renting in between, but can also lead to greater selling pressure.

Pick a favourite and cancel the rest, depositing the savings straight into your home deposit fund.
Enter your annual household income, current debt, and estimated down payment.
You can offer less if, for example, you thinks there are repairs

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