Debt is easing but income has become a concern
Debt-to-income ratios are well over 200% in both cities
Higher mortgage rates are weighing on sales
Rising mortgage rates expected to affect housing demand and resale market
Plus, insight on when a variable rate beats a fixed rate for your client's mortgage
Affordability is the most important factor among first-time homebuyers, a survey says
Grim outlook for prospective home buyers likely to continue
The ratio was up from the first quarter but lower than the same period last year
Pace of starts slowed in August when compared with July
Canadian housing was less affordable in Q2 for the twelfth straight quarter as mortgage interest rates continued to rise, National Bank said on Tuesday. The decline in affordability affected seven out of 10 urban markets, the bank’s Housing Affordability Monitor said, as mortgage interest rates rose for the fourth consecutive quarter. Victoria and Quebec City had the worst deteriorations […]