It’s no secret that the Canadian housing market has been a bit volatile as of late. In certain portions of the country, prices are hot, hot, hot. Price bidding is common in Vancouver, and Toronto and Montreal are both posting record sales numbers. And yet, everywhere you look, experts keep warning of an impending bubble. So, what’s the deal? Is … Read More
Saving for a down payment on a home takes dedication, perseverance, and sacrifice. For many, it also takes a long, long time. According to a recent report from Rate Supermarket, come 2020 the average cost of a home in Canada will be $553,000. To accumulate a measly 5 percent down payment for such a home, recent graduates should expect to spend … Read More
It appears as though the seemingly infinite rise of Canadian housing prices has finally come to an end. After years of marvelling at record breaking list prices and historically low mortgage rates, the tides have finally shifted. Phrases like “cooling market” and “slow sales” are gracing national headlines, causing buyers and sellers alike to contemplate the repercussions. If we’re to … Read More
Thinking of buying while interest rates are still low? Follow these tips to ensure that your finances are ready for a long-term investment.
The Bank of Canada held its ground today, leaving the overnight lending rate unchanged at 1 percent. While the move was expected (the rate has been locked at this near-historic rate since September of 2010), the tone of the announcement was far less confident than previous press conferences. The Bank’s release explained how a global economic slowdown is impacting Canada’s … Read More
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