For some Chinese buyers, the purchase of a home in Canada is part of a long-term plan to immigrate and make a new life here. For many of those who choose the West Island, realtors say one of the biggest motivations is to send their children to learn English and/or French at top-quality Canadian schools.
To no one's surprise, Canada's mortgage industry really, really doesn't like federal regulators' new mortgage stress tests. Its principal industry association, Mortgage Professionals Canada, released a report this week on the impact of the tests that is almost apocalyptic in tone.
A new federal analysis says younger, middle-income households will feel the biggest impacts from the Bank of Canada’s gradual move towards higher interest rates. The briefing note examines the types of households — by income, age and region — most affected by the central bank’s rate-hiking path from extremely low levels.
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