The landscape of Canadian homeownership is evolving, and with it comes the Canadian Mortgage Charter, a bold initiative by the government to reshape how Canadians qualify for mortgages and access lower rates. This charter aims to bridge the gap between rental payment history and mortgage eligibility, while also providing relief for insured mortgage holders looking to switch lenders.

Before embarking on the journey to find your new home, it is imperative to determine the precise amount you can afford. The approval from lenders does not necessarily align with your actual financial comfort, and overspending may lead to financial strain.

Canada's housing landscape is undergoing a significant change as the Canada Mortgage and Housing Corp. (CMHC) announces the discontinuation of its first-time homebuyer incentive program. The move comes in response to widespread criticism that characterized the initiative as ineffective and nonsensical.

Welcome to the new year of 2024, where the landscape of mortgage rates continues its unpredictable journey, akin to a roller coaster ride through economic twists and turns. Attempting to predict mortgage rates has become a strategic challenge, and even seasoned economists find themselves navigating uncertain waters. However, if trends continue as anticipated, 2024 may witness a promising descent in mortgage rates, a potential reason for celebration.