Saving for a downpayment has never been harder for Canadian homebuyers: National Bank | LIVABL

February 04, 2021, by Sean MacKay According to the National Bank of Canada’s Housing Affordability Monitor, it currently takes a household earning the country’s median income 60 months — or five years — at a savings rate of 10% to reach even the minimum downpayment on a typical Canadian home. What makes the current situation…

RAHB market area sees double digit year-over-year increase in average sale price | RAHB

February 02, 2021, Press Releases The REALTORS® Association of Hamilton-Burlington (RAHB) reported 825 sales of residential properties located within the RAHB market area in January 2021. Real estate sales in Hamilton-Burlington were down 9.6% over last month, but up 6.9% over January of last year. The average price for residential properties was $787,840, which was…

Mortgage deferrals most common among Retail, construction, services workers: CMHC | BNN BLOOMBERG

January 26, 2021, by The Canadian Press OTTAWA — Canada’s housing authority says retail, construction and services workers were the most common deferrers of mortgage payments in the first few months of the COVID-19  pandemic. CMHC says the high numbers of deferrals correlated with data showing the retail, construction and service industries were hit with…