Michael Antczak | Real Estate Sales Representative Serving Vaughan, Kleinburg | RE/MAX Premier Inc., Brokerage | Real Estate Mike for All Your Real Estate Needs

First Time Home Buyers News and Articles | My Blog

Why condos are more expensive than houses in the Greater Toronto Area

11/11/2017 | Posted in Home Buyers by Michael Antczak

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Did you know that it’s actually less expensive to buy a home compared to a condo.

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OSFI says stress test, lending rule changes will start Jan 1, 2018 - Industry Reactions

10/18/2017 | Posted in Mortgages and Real Estate by Michael Antczak

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OSFI has published its update for the tightening of mortgage lending regulations known as Guideline B-20 and set the date that it will apply. 

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Proposed mortgage stress test unnecessary and harmful: Fraser Institute

10/11/2017 | Posted in Mortgages and Real Estate by Michael Antczak

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A new stress test for all uninsured mortgages is unnecessary and could increase costs for homebuyers, a report by the Fraser Institute said Wednesday.

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Mortgage carrying costs for new buyers to increase by 8% in 2018

10/10/2017 | Posted in Home Buyers by Michael Antczak

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Amid steadily rising mortgage costs, prospective home buyers should brace themselves for a less friendly purchasing environment in a few months’ time, although current ... More


CMHC explores cutting red tape for self employed borrowers

10/2/2017 | Posted in Home Buyers by Michael Antczak

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The national housing agency is exploring ways to make it easier for entrepreneurs and new immigrants to buy a home by cutting some of the red tape required to prove they can ... More


Emotions drive Canadian homebuyers to smash their budgets

9/29/2017 | Posted in Home Buyers by Michael Antczak

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Sixty percent of Canadian homebuyers would exceed their budget to buy a home with more than half willing to smash it by $50K!

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Buyers to face even greater hurdles

9/19/2017 | Posted in Mortgages and Real Estate by Michael Antczak

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Last year’s mortgage rule changes placed roadblocks in front of millions of would-be buyers, but increased rates and future regulatory action may prove even more ... More


Tips for buying a new construction home

8/27/2017 | Posted in Home Buyers by Michael Antczak

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Buying from plans requires careful attention and some people find it hard to visualize a room’s size strictly from written measurements, so bring a tape measure.

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New Canadians overwhelmingly target home ownership

6/30/2017 | Posted in Home Buyers by Michael Antczak

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New study reveals Canadians born outside the country view home ownership as a major milestone.

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More first-home buyers in Ontario delaying their purchases

6/27/2017 | Posted in Ontario Real Estate by Michael Antczak

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More first-home buyers in Ontario appear to be delaying their purchases in the wake of the province’s new policies intended to cool the red-hot housing market. At the ... More


Homebuyers who get family help report feeling less comfortable with their debt levels

6/7/2017 | Posted in Home Buyers by Michael Antczak

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Even after getting family help to make a down payment on a home, first-time buyers still worry about their financial situation, according to a new survey from ... More


1 in 4 homebuyers had issues after purchase: Allstate

5/30/2017 | Posted in Home Buyers by Michael Antczak

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Costly repairs could be awaiting homebuyers as a new survey shows that owners may be missing some important factors when renovating or carrying out maintenance.

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Mortgage rates continue to defy expectations as Trump runup fizzles

4/28/2017 | Posted in Mortgage Interest Rates by Michael Antczak

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Here’s the least surprising news you’ll hear all day: Interest rates are not doing what most experts predicted.

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Buyer's remorse: Most millennial homeowners are house poor and want to sell

4/24/2017 | Posted in Home Buyers by Michael Antczak

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Many millennials face the understandable apprehension that they may never be able to afford a home in a market that’s continually surging to new heights.

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Cool Toronto's market by cutting tax - not raising it

4/12/2017 | Posted in Toronto Real Estate by Michael Antczak

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Jack Mintz: If Premier Kathleen Wynne wants to score a big win with home-buying voters, why not get rid of the land-transfer tax altogether?

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Mortgage premium hikes reduce case for borrowing to boost down payment

3/20/2017 | Posted in Mortgages and Real Estate by Michael Antczak

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With mortgage insurance premiums rising, homebuyers whose down payments are just shy of 20 per cent may be considering whether to tap extra sources of credit in order to avoid ... More


What to expect after the U.S. Fed rate hike

3/17/2017 | Posted in Mortgage Interest Rates by Michael Antczak

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The possible impacts of the U.S. Federal Reserve’s decision on March 15 (Wednesday) to raise its key interest rate from 0.75 per cent to 1 per cent should not be ... More


Millennials are buying homes but many have parental help: survey

3/3/2017 | Posted in Home Buyers by Michael Antczak

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While slightly more than a third of Canadian millennials now own a home, nearly two-fifths of them had help from parents to get into the housing market, says a new global study ... More


First-time buyers get GTA land tax reprieve

1/27/2017 | Posted in Toronto Real Estate by Michael Antczak

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The City of Toronto is not increasing the Land Transfer Tax for first-time buyers which could have added as much as $4,475 to the cost of buying a home.

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Toronto condo buyers feeling the squeeze

1/20/2017 | Posted in GTA Real Estate by Michael Antczak

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One of the big surprises of the resale market in 2016 in the Greater Toronto Area was the strength of the condo segment. The shortage of listings in the single-family home ... More


Pressure on GTA renters intensifies

1/17/2017 | Posted in Rental Market by Michael Antczak

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Those hoping to become first-time buyers in the Greater Toronto Area are under increasing pressure as soaring rents make saving for a downpayment tougher.

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First-time buyers delaying due to mortgage rules

1/9/2017 | Posted in First Time Home Buyers by Michael Antczak

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The tightened mortgage rules introduced by the federal government last year are having a negative effect on the homebuying plans of first-time buyers.

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Bank of Canada maintains overnight rate target at 1/2 per cent

12/7/2016 | Posted in Mortgage News by Michael Antczak

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The Bank of Canada is holding its benchmark interest rate at 0.5 per cent as economic conditions move along largely in line with its expectations.

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Increased Home Buyer Tax Will Put Home Ownership Further out of Reach for Young Families

12/2/2016 | Posted in Toronto Real Estate by Michael Antczak

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First-time home buyers will pay more tax on an average priced Toronto home if City Council approves changes to the Toronto Land Transfer Tax (LTT). The City of Toronto's ... More


TREB slams city "cash grab"

11/28/2016 | Posted in Toronto Real Estate by Michael Antczak

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Proposed changes to the Land Transfer Tax in Toronto have been criticized by the Toronto Real Estate Board for their impact on first-time buyers.

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Higher down payments could be on horizon: CMHC

11/26/2016 | Posted in Home Buyers by Michael Antczak

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The head of Canada Mortgage and Housing Corp. has opened the door to the possibility of increasing the minimum down payment needed to buy a house, though a change is not ... More


Ontario's home costs growing by approximately $2K every few days

11/23/2016 | Posted in Ontario Real Estate by Michael Antczak

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Over the past year, the average price of homes in Ontario has swelled by more than $88,000, translating to a growth rate of around $2,000 every 8 or 9 days.

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Ontario helping first-time homebuyers

11/14/2016 | Posted in Ontario Real Estate by Michael Antczak

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Ontario is doubling the rebate on the land-transfer tax for first-time homebuyers to $4,000, but is increasing the same tax on homes that sell for over $2 million.

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Mortgage insurance premiums set to rise

11/14/2016 | Posted in Mortgage News by Michael Antczak

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Homeowners could be facing mortgage insurance price increases next year according to the boss of Canada’s largest private mortgage insurer.

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Toronto housing supply not keeping pace with millennial demand

11/9/2016 | Posted in Toronto Real Estate by Michael Antczak

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While 75 per cent of millennials intend to purchase real estate in the GTA, not enough lowrise homes are being built.

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