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submitted 2 months ago by girlfreddy@lemmy.ca to c/canada@lemmy.ca

Buying a home in Canada became slightly easier in July, according to a new report that cites dropping mortgage rates and lowering average home prices.

The minimum income required to purchase a home dipped last month across the 13 major cities studied by Ratehub.ca, according to their recent blog post.

That salary threshold dropped by more than $5,000 in Canada’s two priciest markets of Toronto and Vancouver, and it was overall lower across the board.

One factor in the drop was average home prices, which went down month-over-month in Canada’s largest markets.

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[-] hddsx@lemmy.ca 10 points 2 months ago

Still more than I make

this post was submitted on 20 Aug 2024
43 points (100.0% liked)

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