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Wednesday, July 08, 2015

Find out if you can afford a home in these major Canadian markets

The numbers are based on the RBC Housing Affordability Measures for the first quarter of 2015. It takes into account the proportion of median pre-tax household income that would be required to service the cost of mortgage payments (principal and interest), property taxes, and utilities on a detached bungalow, a standard two-storey home and a standard condo (excluding maintenance fees) at the going market prices. The measures are based on a 25 per cent down payment, and a 25-year mortgage loan at a five-year fixed rate.
http://news.buzzbuzzhome.com/2015/06/household-income-for-house-in-canada.html

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