Rental Prices Are Increasing
The average monthly rent calculated was $2,044 for one-bedroom, and the average two-bedroom costing $2,778.
Average Home Prices Rise by 20% Since Last Year
The average home price has increased to $816,720 in February which is a 20.6% increase since last year as supply demands are being fulfilled.
Mortgage Approval Roadblocks That You Should be Aware of
A lender has full authority to reject your mortgage application if changes occur to your finances. Here are key issues to avoid for a smooth transaction.
Failing First-Time Home Buyersâ Program
A mortgage industry group highlighted that the First-Time Home Buyers’ Program is failing because of restrictive criteria.
The Mortgage Stress Test Has Already Increased for Some Borrowers
Mortgage stress test has already increased for some borrowers because they are stress-tested for rates higher than 3.25% plus 2%.
How Mortgage Pre-Approval Protects You From Rising Rates
When successfully passing the mortgage pre-approval stage, the rates that were discussed are provided to the borrower in written format.
Tips for Mortgage Renewal
Nearly 70% of mortgages never finish their term indicating that homeowners are ending their mortgages early.
