Ottawa’s Mortgage Rules: One Year Later, Financial Tips, First Time Home Owner, General Interest, Housing Costs, Mortgage Down Payment, Real Estate Advice, Residential Mortgages

It was roughly one year ago that Finance Minister Flaherty announced his fourth round of mortgage restrictions in as many years. The reason for these changes was simple: cool down an out-of-control housing market. By tightening lending rules, Flaherty hoped to lower the risk to taxpayers and curb excessive rates of household debt. 

Buyers Doubt Mortgage Rates Will Rise This Year, Financial Tips, General Interest, Mortgage Term, Mortgage Types, Real Estate Advice, Residential Mortgages

Looks like fewer people are buying into the idea that mortgage rates are going to increase in 2013. This according to a studying by CIBC released in mid-March. The study showed that almost half (46 percent) of Canadian homebuyers believe that the near-record low mortgage rates of today are going to stick around for at least another 12 months. That’s … Read More

Alternative Down Payment Funding Sources

EditorGeneral Interest, Mortgage Down Payment, Mortgage News, Mortgage Types, Real Estate Advice, Residential Mortgages

The theme for 2012 mortgage rules was pretty obvious: crack down on homebuyers who were looking to purchase a home with little money down. Changes barring cash-back mortgages by the Canada Mortgage and Housing Corp. made it clear that regulators wanted to dissuade cash-poor consumers from taking on more debt. Yet, even despite these changes, first time homebuyers can still … Read More

A Closer Look At Your Neighbourhood’s Housing Market, Financial Tips, General Interest, Mortgage News, Mortgage Talk Canada, Mortgage Term, Real Estate Advice, Residential Mortgages

The elusive soft landing has finally hit ground in Canada, as the latest reports from the Real Estate Association show a decrease in year-over-year sales. The real estate group found that sales were down 0.1% in October from September. Actual sales for October (without the seasonal adjustment) were down 0.8% from a year ago. While not unexpected (a housing slowdown … Read More