Make the Right Investment in Your Home

EditorMortgage News, Mortgage Term, Real Estate Advice, Refinancing my Property, Residential Mortgages

Has owning your home become the new retirement savings plan? According to recent statistics, more and more Canadians are investing in their home rather than their RRSP. While half of Canadians haven’t contributed to their registered retirement savings plan, close to 70 percent of households currently own their own home. It’s an interesting shift, and one that could prove extremely … Read More

Housing Market Cooling Across Canada, Financial Tips, General Interest, Mortgage News, Mortgage Term, Mortgage Types

The Canadian housing market has begun to correct itself, or at least that’s what the numbers show. A combination of market fatigue, stricter mortgage rules and a decrease in property affordability are believed to be contributing to the long anticipated correction. Home sales fell 5.8 percent in August from July. Sales are down 8.9 percent year over year. With that … Read More

Questions to Help You Avoid Mortgage Penalties, First Time Home Owner, Mortgage Down Payment, Mortgage News, Mortgage Term, Mortgage Types, Real Estate Advice

Thinking about opting out of your fixed rate mortgage in order to take advantage of ultra low variable rates? Be careful! Interest rate differential (IRD) charges – commonly referred to as mortgage penalties – could leave a large dent in your wallet if you’re not careful. Unfortunately, banks have historically made it nearly impossible to figure out just how expensive … Read More

New Barriers for First-time Home Buyers

EditorGeneral Interest, Housing Costs, Mortgage Insurance, Mortgage News, Mortgage Term, Mortgage Types, Real Estate Advice, Residential Mortgages

It’s no secret that the residential real estate market relies on a steady stream of first-time home buyers. A constant and consistent demand from young buyers is what keeps housing prices from declining. Unfortunately, new mortgage rules are making it harder for cash-strapped buyers to qualify for current real estate prices. In a logical economy, housing prices would have to … Read More

Canadian Housing Market at Tipping Point, First Time Home Owner, Mortgage News, Mortgage Term, Mortgage Types, Residential Mortgages

According to economists at the Bank of Nova Scotia, Canada will soon boast a more than 70 percent homeownership rate. The question now is whether or not the nation’s housing market has reached the tipping point (the United States is believed to have cracked the same 70 percent threshold just before the housing bubble burst in 2008). Growing concern over … Read More