Cashback mortgages are a type of mortgage that has gained popularity in Canada over the past few years. With a cashback mortgage, borrowers receive a lump sum cash payment from the lender at closing. This cash payment can be used for various purposes, such as covering closing costs or making home improvements.

How a Cashback Mortgage Works

Cashback…

Is it getting harder to be approved for a mortgage? 

The Bank of Canada (BoC) keeps raising interest rates, and this is having a spillover effect on the mortgage market, meaning borrowers are paying more or being refused mortgages altogether. 

The conventional five-year mortgage lending rate is inching closer to six percent again. This also means…

Over the last couple of years, various surveys have revealed the same thing: prospective homeowners are concerned that they will be unable to buy a home because they cannot afford the down payment. 

Indeed, with Canadian real estate prices way above their pre-pandemic highs, plus interest rates at their highest levels since the global financial crisis, it is getting…

In 2023, financial experts have been homing in on mortgage rates. With inflation showing moderation, the Bank of Canada (BoC) has put pause to its recent wave of interest rate hikes, and analysts believe the Bank may start dropping rates early next year. The debate among housing observers, economists and investors is about how much and how quickly.

Despite…

Compiled from sales reported on the Multiple Listing Service of the Newfoundland and Labrador Association of Realtors for the Pasadena area for July - Sept 2020. The data does not necessarily reflect all real estate activity in this market.