Struggling to pay mortgages

Struggling to pay mortgages.

Canada Vancouver – A shocking number of first-time home buyers are having trouble making their mortgage payments.

The latest survey by Canada Mortgage and Housing shows one in four are worried about them.

It finds that 80 per cent of more than 4,000 home buyers polled still believe property is a good long-term investment.

However, 85 per cent admit they maxed out their budgets.

Your private Property Angel is here to help you find your next home.

Property Angels – Attorney Realtor Partner

The findings from this research doesn’t surprise North Vancouver-based money coach Christine Williston. She says people have put too much money toward purchasing a new house. As interest rates go up, they are feeling squeezed.

Entirely maxing out your mortgage and buying the biggest house that you can possibly afford is a dangerous game. If you haven’t left yourself any wiggle room for rising interest rates or unexpected expenses, you’re living in a dangerous spot.

She also supports new stress tests making it harder for first-time buyers to get into the market.

Kelley Keehn, a personal finance educator, says she’s actually surprised 76 per cent of are confident they can make their payments. The reality is 50 per cent of Canadians are $200 away from not being able to pay their bills.

More than half of those in the survey who said they were concerned, say they are most worried about paying too much for their home and rising interest rates.

The Bank of Canada raised its interest rate target up four times since July 2017, and it could be raising it again Oct. 24.

National home sales fell in September for the first time in five months, weakening markets in Vancouver, according to a report from the Canadian Real Estate Association.

Although prices are flattening, the outlook on Canada’s real estate market is still positive.

The B.C. President Troy Resvick believes new federal stress tests are making it too hard for some people to even get into the market.

We definitely don’t want to see buyers halted from being able to achieve the Canadian dream of owning a home.

We are trying to make sure that we don’t end up in a financial crisis like we saw a decade ago in the U.S. 

Resvick, who’s been a mortgage broker for 15 years, adds many of his clients are reaching out to him for advice on how to avoid trouble.

Authors – Marcella Bernardo / Lauren Boothby

Original Publisher – City News

Did you know? Your Property Angel offers you an all inclusive service whereby you will receive legal advice, sales and purchase solutions as well as the entire transfer process.

Get your real estate selling or buying process going on the right track today. Your Property Angel will then call you back either the same day or the next business day.

Simply complete the basic online form so that your Property Angel can call you for a brief chat.


Your Property Angel will highlight all the benefits. Then you will fully understand why Property Angels is the easiest way for you to sell or buy your next residential property.

Property Angels is an online property portal that promotes residential property for sale across South Africa. You can buy, sell, list and find South African properties online. Find houses for sale in Johannesburg, Cape Town and Durban which are the three biggest cities in South Africa.

At Property Angels we will help you sell or buy your next house or home so that you can move on quickly and affordably.

Traditional Estate Agents do offer good service but you want so much more when it comes to selling or buying your next home.

Some of the top property companies online in South Africa include Private Property, Property 24, My Property, Property Fox, PropertyCoZa, Remax, Pam Golding, LeadHome, SA Hometraders, Gumtree and Property Angels.

Whilst most online property brands offer online visibility for Estate Agents South Africa, Property Angels offers online visibility for Attorney Realtor Agents South Africa.

Whether you have a property for sale or you are seeking a house to buy in the southern suburbs, Northern Suburbs, Eastern suburbs or Western suburbs, choose Property Angels as your attorney realtor property website in South Africa. Sell your property online through Property Angels.

Your dedicated Attorney Realtor will call you back today or the next business day.

Whether South Africa is in a buyer’s market or in a seller’s market, contact Property Angels today for quick and efficient online and face to face service.

List your house for sale with Property Angels. You can also find property to view, property selling tips and many other useful property and finance blog articles and property products bespoke to your needs. Buy and sell your private residential property through Property Angels. Allow Property Angels to become your chosen property website portal for your choice of homes to sell and homes to buy.