Tag Archives: CMHC

An excellent year for the real estate sector despite a rocky economic situation

After home sales failed to meet expectations in 2014, many analysts gave a cautious forecast of only a 2% increase in sales for 2015. However, despite several economic ups and downs, the real estate sector performed surprisingly well across Quebec this past year.

Key interest rate, depreciation of the loonie and jobs

To everyone’s surprise, at the start of the year, the Bank of Canada decided to reduce its key interest rate to 0.75%, which led to lower mortgage interest rates. The impact of this change resulted in shorter terms and generous rate discounts. What’s more, in July 2015, the Bank of Canada further reduced its key interest rate to 0.50%. While this second decrease had a less dramatic effect on mortgage rates than the first, it did encourage Canadian banks to reduce their preferred rates, which gave a boost to the Canadian economy.

Among other factors influencing the housing market, the job market proved to be particularly resistant to economic fluctuations, with over 80,000 jobs being created in Canada over the course of the year.

iStock
iStock

Higher sales than expected with slight price increases

While many anticipated growth in home sales of just 2% in 2015, as mentioned above, by mid-2015, that figure had already reached 5%. The Québec Federation of Real Estate Boards (QFREB) even forecast a rate of 6% or 7% by the end of the year, with some 75,000 properties sold, and the Canadian Mortgage and Housing Corporation (CMHC) agreed. Continue reading

Buying a first home: 9 steps

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iStockphoto LP

The purchase of a first house involves reflection and planning. By following the proposed stages, you will put all the chances on your side to make your project a success. More details for these steps are available by clicking the following links, or go to National Bank’s website www.nbc.ca

 1. Calculate your borrowing capacity

Estimate how much National Bank could give you to buy your property.

Your National Bank advisor can help you calculate your borrowing capacity by reviewing your financial situation. You can also have an idea of your borrowing capacity by using our calculation tool. Continue reading

A market awaiting investors

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Source: iStockphoto LP

The construction of intergenerational homes has not experienced its expected popularity. Condominiums have mesmerized investors in recent years, at the expense of rental properties. However, senior citizens are omnipresent, and numerous. And do you know what? Their numbers are increasing every year. We haven’t seen anything yet.

Are you thinking of investing in real estate? The senior citizen housing market is a prime category. But you have to know the preferences of retirees and future retirees and how to adapt to them. Continue reading

Buying a first home: 8 steps

Source: iStockphoto LP

The purchase of a first home requires some thought and above all, planning. You can enhance your chances of success.

1. Calculate your borrowing capacity

Estimate how much National Bank could give you to buy your property.

Your National Bank advisor can help you calculate your borrowing capacity by reviewing your financial situation.

Continue reading

Master your mortgage

You just got your hands on the coveted home. The housewarming party was a success, the champagne flowed. While you’re celebrating, a beast was sleeping quietly, coiled up in a corner, with eyes half-open. It appears harmless, but if you don’t show it who the master of the house is immediately, the beast could chew up your budget until you end up bankrupt.

Source : iStockPhoto

The beast is the mortgage you contracted. We all know that in too many cases, the mortgage takes control of the owner. Defeated, the owner ends up getting rid of the house with a heavy heart.

The Canada Mortgage and Housing Corporation (CMHC), an independent organization that protects homeowners, reminds you that if you want to keep your house for as long as possible, you have to tame your mortgage from the beginning and show it who the master is. Continue reading