KEY FINDINGS: – 56 percent say that moving to a different neighbourhood/communi…

KEY FINDINGS:
– 56 percent say that moving to a different neighbourhood/community would be one of the top three sacrifices they would make.

– Based on average residential selling price, Brandon, MB ranked as the most affordable market in 2022. This is followed by Regina, SK (which remained on the list year-over-year), St. John’s, NL, Moncton, NB, and Red Deer, AB.

– Based on the share of income spent on mortgage payments, Red Deer, AB ranked as Canada’s most affordable housing market, with 25.86% of average monthly income spent on the average-priced home.


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Mortgage qualifying rate remains below five percent

It was the second time The Bank reduced the qualifying rate in the last three months, the most recent in May when the rate changed from 5.04 percent to 4.94 percent.

Mortgage qualifying rate remains below five percent

“Over the last few years, rule changes have made it harder for Canadians to qualify, so the recent reductions in the benchmark qualifying rate is welcome news for first-time home buyers hoping to enter the housing market,” says James Laird, co-founder of Ratehub.ca and president of CanWise Finan…

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