Consumer Debt Impacts IMF’s Outlook for Canada

EditorAbout Mortgage Brokers, FamilyLending.ca, Financial Tips, Mortgage News, Real Estate Advice, Residential Mortgages

Canada’s economic outlook took a big hit this morning as the International Monetary Fund downgraded the nation’s financial outlook. Inflated consumer debt levels and a shaky housing market were at the heart of the downgrade, which was announced in Tokyo this morning at the IMF-World Bank annual meeting. The Washington-based global lender’s quarterly World Economic Outlook downgraded Canada’s economic advance … Read More

What if the Government Didn’t Back Mortgages?

EditorFamilyLending.ca, First Time Home Owner, Home Insurance, Housing Costs, Investment Property, Mortgage Down Payment, Mortgage Insurance, Mortgage News, Real Estate Advice, Residential Mortgages

Saving for a down payment on a home takes dedication,┬áperseverance, 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

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

Questions to Help You Avoid Mortgage Penalties

EditorFamilyLending.ca, 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

What To Do When Housing Prices Fall

EditorFinancial Tips, First Time Home Owner, Home Insurance, Household Budget, Housing Costs, Mortgage Down Payment, Mortgage News, Real Estate Advice, Residential Mortgages

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