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First Time Home Buyers / My Blog

New Canadians overwhelmingly target home ownership

6/30/2017 | Posted in Home Buyers by Shan Thayaparan

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New study reveals Canadians born outside the country view home ownership as a major milestone.

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More first-home buyers in Ontario delaying their purchases

6/27/2017 | Posted in Ontario Real Estate by Shan Thayaparan

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More first-home buyers in Ontario appear to be delaying their purchases in the wake of the province’s new policies intended to cool the red-hot housing market. At the ...

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Homebuyers who get family help report feeling less comfortable with their debt levels

6/7/2017 | Posted in Home Buyers by Shan Thayaparan

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Even after getting family help to make a down payment on a home, first-time buyers still worry about their financial situation, according to a new survey from ...

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1 in 4 homebuyers had issues after purchase: Allstate

5/30/2017 | Posted in Home Buyers by Shan Thayaparan

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Costly repairs could be awaiting homebuyers as a new survey shows that owners may be missing some important factors when renovating or carrying out maintenance.

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Mortgage rates continue to defy expectations as Trump runup fizzles

4/28/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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Here’s the least surprising news you’ll hear all day: Interest rates are not doing what most experts predicted.

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Buyer's remorse: Most millennial homeowners are house poor and want to sell

4/24/2017 | Posted in Home Buyers by Shan Thayaparan

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Many millennials face the understandable apprehension that they may never be able to afford a home in a market that’s continually surging to new heights.

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Cool Toronto's market by cutting tax - not raising it

4/12/2017 | Posted in Toronto Real Estate by Shan Thayaparan

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Jack Mintz: If Premier Kathleen Wynne wants to score a big win with home-buying voters, why not get rid of the land-transfer tax altogether?

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Mortgage premium hikes reduce case for borrowing to boost down payment

3/20/2017 | Posted in Mortgages and Real Estate by Shan Thayaparan

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With mortgage insurance premiums rising, homebuyers whose down payments are just shy of 20 per cent may be considering whether to tap extra sources of credit in order to avoid ...

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What to expect after the U.S. Fed rate hike

3/17/2017 | Posted in Mortgage Interest Rates by Shan Thayaparan

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The possible impacts of the U.S. Federal Reserve’s decision on March 15 (Wednesday) to raise its key interest rate from 0.75 per cent to 1 per cent should not be ...

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Millennials are buying homes but many have parental help: survey

3/3/2017 | Posted in Home Buyers by Shan Thayaparan

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While slightly more than a third of Canadian millennials now own a home, nearly two-fifths of them had help from parents to get into the housing market, says a new global study ...

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First-time buyers get GTA land tax reprieve

1/27/2017 | Posted in Toronto Real Estate by Shan Thayaparan

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The City of Toronto is not increasing the Land Transfer Tax for first-time buyers which could have added as much as $4,475 to the cost of buying a home.

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Toronto condo buyers feeling the squeeze

1/20/2017 | Posted in GTA Real Estate by Shan Thayaparan

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One of the big surprises of the resale market in 2016 in the Greater Toronto Area was the strength of the condo segment. The shortage of listings in the single-family home ...

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Pressure on GTA renters intensifies

1/17/2017 | Posted in Rental Market by Shan Thayaparan

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Those hoping to become first-time buyers in the Greater Toronto Area are under increasing pressure as soaring rents make saving for a downpayment tougher.

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First-time buyers delaying due to mortgage rules

1/9/2017 | Posted in First Time Home Buyers by Shan Thayaparan

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The tightened mortgage rules introduced by the federal government last year are having a negative effect on the homebuying plans of first-time buyers.

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Bank of Canada maintains overnight rate target at 1/2 per cent

12/7/2016 | Posted in Mortgage News by Shan Thayaparan

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The Bank of Canada is holding its benchmark interest rate at 0.5 per cent as economic conditions move along largely in line with its expectations.

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Increased Home Buyer Tax Will Put Home Ownership Further out of Reach for Young Families

12/2/2016 | Posted in Toronto Real Estate by Shan Thayaparan

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First-time home buyers will pay more tax on an average priced Toronto home if City Council approves changes to the Toronto Land Transfer Tax (LTT). The City of Toronto's ...

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TREB slams city "cash grab"

11/28/2016 | Posted in Toronto Real Estate by Shan Thayaparan

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Proposed changes to the Land Transfer Tax in Toronto have been criticized by the Toronto Real Estate Board for their impact on first-time buyers.

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Higher down payments could be on horizon: CMHC

11/26/2016 | Posted in Home Buyers by Shan Thayaparan

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The head of Canada Mortgage and Housing Corp. has opened the door to the possibility of increasing the minimum down payment needed to buy a house, though a change is not ...

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Ontario's home costs growing by approximately $2K every few days

11/23/2016 | Posted in Ontario Real Estate by Shan Thayaparan

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Over the past year, the average price of homes in Ontario has swelled by more than $88,000, translating to a growth rate of around $2,000 every 8 or 9 days.

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Ontario helping first-time homebuyers

11/14/2016 | Posted in Ontario Real Estate by Shan Thayaparan

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Ontario is doubling the rebate on the land-transfer tax for first-time homebuyers to $4,000, but is increasing the same tax on homes that sell for over $2 million.

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Mortgage insurance premiums set to rise

11/14/2016 | Posted in Mortgage News by Shan Thayaparan

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Homeowners could be facing mortgage insurance price increases next year according to the boss of Canada’s largest private mortgage insurer.

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Toronto housing supply not keeping pace with millennial demand

11/9/2016 | Posted in Toronto Real Estate by Shan Thayaparan

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While 75 per cent of millennials intend to purchase real estate in the GTA, not enough lowrise homes are being built.

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Big bank hikes prime rate

11/1/2016 | Posted in Mortgage Interest Rates by Shan Thayaparan

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Broker fears were confirmed Tuesday, with one big bank raising its prime rate less than a month following new mortgage rules.

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Average home size to contract in the near future - report

10/28/2016 | Posted in Industry Trends by Shan Thayaparan

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A recent report warned that the average size of Canadian homes will decrease in the next few years, even as affordability in Vancouver and Toronto won’t return to ...

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Four ways parents can help their kids buy a home

10/27/2016 | Posted in Home Buyers by Shan Thayaparan

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As housing prices rise significantly, it can be hard for young people to get a leg up. Here are some ideas for Mom and Dad.

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Foreign investors home in on Toronto real estate after BC's tax measure, chart suggests

10/22/2016 | Posted in Toronto Real Estate by Shan Thayaparan

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Some observers have speculated that foreign investors will turn to Toronto’s real estate market after BC tacked a 15-per-cent tax on all non-residents ...

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Canada's mortgage brokers find ways around new lending rules

10/21/2016 | Posted in Mortgages and Real Estate by Shan Thayaparan

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Canada’s new mortgage rules risk pushing borrowers deep into the shadow lending market, with brokers set to line up secondary loans with private lenders as a means of ...

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Bank of Canada keeps key interest rate unchanged at 0.5 per cent

10/19/2016 | Posted in Mortgage Interest Rates by Shan Thayaparan

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The Bank of Canada is downgrading the country's economic growth outlook yet again amid dampened expectations for exports and real estate activity.

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Banks, insurers spearhead opposition to Ottawa's new housing rules

10/11/2016 | Posted in Mortgages and Real Estate by Shan Thayaparan

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Canadian banks and mortgage insurers are rallying against new government housing rules that they say will lead to higher mortgage rates, hurt small real estate markets and ...

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Non-banks "crippled" by new mortgage rules says broker

10/11/2016 | Posted in Mortgage News by Shan Thayaparan

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The new mortgage rules being introduced by Ottawa next week are already having a “crippling” impact on non-bank mortgage lenders according to online broker Butler ...

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