Canadian housing affordability is just about the worst ever. That's especially problematic for first-time buyers who: * can barely scrape together the minimum 5% to 7.5% down payment * have strong credit and solid employment * have debt ratios above the 39% #GDS#/ 44% #TDS# insurer limits * can't

From 2008 to 2021, Canada's household debt soared from 80% of GDP to 107%. U.S. household debt-to-GDP slid from 100% to 75% in that same timeframe. To belabour the obvious, Canada has a worsening debt problem. And that problem could theoretically come to a head if/when

Most Canadians planning to buy a home in the next 12 months aren't too confident about their qualifications. According to a new RATESDOTCA/LEGER survey: * 7 in 10 claim they're concerned they may not qualify for the mortgage amount they want. * 1 in 3 was "

💡Reader note: MLN's weekly rate roundup and updated Amortization Simulator will follow later today. The government’s latest answer to housing unaffordability — giving first-time borrowers more tax breaks to build a down payment — has officially launched. It’s called the First Home Savings Account (FHSA), and in a