The Government of Canada is considering imposing stricter rules on mortgages due to the nation’s seemingly overvalued housing market. Bank of Canada’s Governor, Mark Carney, and Finance Minister, Jim Flaherty, have been focused on the nation’s rising debt load for more than a year, stating that things must change in order to avoid serious economic repercussions. Ironically, instead of encountering … Read More
Why Now is a Good Time to Buy
Thinking about buying a home? Well, stop thinking and start looking. The stars have aligned in the Canadian real estate market, creating what many in the industry are calling “the perfect storm” of market potential. From condos to single-family homes, now’s the time to lock in a mortgage rate and enter the world of real estate investing.
Reverse Mortgages on the Rise
Aging Canadian’s in need of a financial boost are cashing in record numbers, according to data released earlier this month. A report released by the parent company of HomEquity Bank, the nation’s sole provider of reverse mortgages, states that a record number of reverse mortgages (with a rough total worth of $67.2 million) were closed in the fourth quater of … Read More
A Review of 2011 Mortgage Trends
The Canadian mortgage market experienced a number of changes this past year. There were some ups and there were certainly some downs. The following are some of the biggest trends from the past year, and how we expect the market to unfold in 2012.
Mortgage Brokers Offer Tangible Benefits
Very few people can afford to pay for their property in full. This is by no means a bad thing – property is expensive and it’s perfectly normal for an investment of this size to require long-term financial planning. That’s what mortgages are all about. Banks and lenders provide individuals with the option of borrowing money in order to afford … Read More