22
Jul 2015
Should You Borrow For Your Down Payment?
About First Time Buyers With No Comment
Saving for a down payment feels like it can take a lifetime. House prices have climbed to over $450,000 on average, meaning a buyer making a standard 20% down payment will need to save $90,000 to enter the market. Even the minimum down payment of 5% works out to a daunting $22,500, not including mortgage […]
 announced it was cutting the overnight lending rate from 0.75% to 0.50%. The cut followed a surprise 0.25% reduction in January, which BoC Governor Stephen Poloz later likened to “life saving surgery” as oil prices fell and the Canadian economy suffered as a result. Yesterday’s move had been widely […]){kind=link}