Home sales in Canada’s two hottest markets, Toronto and Vancouver, have already begun to cool thanks to new mortgage rules. According to the Toronto Real Estate Board, July home sales in the city slipped 1.5 percent compared to a year ago. Properties in Vancouver dropped 11.2 percent from June. Concerns about a bubble in both communities had been mounting since … Read More
Understanding Amortization
A shorter amortization period can help you pay off your mortgage faster and save you money. Obvious? Perhaps. So why are more and more people choosing to stretch their amortization as long as possible? The recent changes to Canadian mortgage regulations that limit amortization periods to 25-years have caused a bit of tension across the country as families scramble to … Read More
Is a One-Year Fixed Rate Mortgage Right For You?
Rates have nowhere to go but up. Or at least, that’s what everyone keeps telling us. Banks, economists, mortgage brokers, even Finance Minister Jim Flaherty is insisting that interest rates will start to climb later this year. And yet, they keep going down. The mortgage establishment continues to drop interest rates, pushing long-term fixed mortgage rates like they’re going out … Read More
Why You Should Buy Commercial Real Estate Now
Tired of paying high leasing rates at your current commercial location? Well, what if you knew you could save more in the long term if you opted to buy a building for your business today? Low interest rates, low vacancy rates and a tight supply are creating the perfect purchasing situation for entrepreneurs across the country. According to Steve Murphy, … Read More
Refinancing Just Became a Whole Lot Harder
Ottawa’s latest round of mortgage policies could have quite the impact on current homeowners, especially those shouldering a large amount of debt. If you have a mortgage and are planning to refinance or renew in the coming months, you could be in for a bumpy ride. The two factors that will most impact your experience? Whether or not you plan … Read More