For many Canadians, buying a home can be a challenging and stressful experience fraught with worry. Indeed, a recent survey from Zillow and Ipsos found that 92% of Canadians see at least one barrier to home ownership, and two of the top concerns are related to the mortgage process. Canadians report feeling pressured by stricter
Study: Down payment assistance doesn’t mean a higher chance of defaulting
November 8, 2019 by
Common wisdom has it that home buyers who rely on down payment assistance are more likely to default on their mortgage repayments, but a new study has debunked that theory. The study, by the Center for Household Financial Stability at the Federal Reserve Bank of St. Louis, found that buyers who receive financial assistance with
Report: Home affordability “unnervingly low’ for lower-income buyers
September 9, 2018 by
The double-whammy of of rising home prices and interest rates is creating a tough environment for would-be home buyers, making monthly mortgage payments on even modestly priced homes more of a financial burden. A monthly mortgage payment for a typical U.S. home requires 17.5 percent of the median income, up from 15.4 percent a year
Wave of foreclosures could hit Puerto Rico
January 31, 2018 by
Puerto Rico could be hit with a fresh wave of foreclosures as a three-month moratorium on repayments that followed the devastation of Hurricane Maria comes to an end.
Low income earners struggling to pay off their mortgages
July 21, 2016 by
People with low incomes spend nearly 23 percent of their income on monthly mortgage payments, compared to high-income earners, who spend 11.5 percent of their income on monthly house payments, according to a new Zillow analysis.
