6 Steps to Get Out of Bad Debt and Into Good Debt

Melanie ConsMortgage Talk Canada

Everyone at one point or another gets a reality check that makes it clear that you’ve been a bit too free and careless with your finances …and it’s time to make a change. Debt is not necessarily a bad thing, but you want good debt, not bad. If that sounds familiar and you’re looking for a way to be a … Read More

CMHC makes announcement regarding self-employed borrowers

Melanie ConsMortgage Talk Canada

Canada Mortgage and Housing Corp. is making changes intended to make it easier for the self-employed to qualify for a mortgage. The national housing agency says it’s giving lenders more guidance and flexibility to help self-employed borrowers. Self-employed Canadians may have a harder time qualifying for a mortgage as their incomes may vary or be less predictable. CMHC is providing … Read More

Here’s what the interest rate hike means for the Canadian housing market, according to experts (Livabl)

Melanie ConsMortgage Talk Canada

Yesterday, the Bank of Canada (BoC) hiked the overnight rate 25 basis points to 1.50 per cent, the fourth increase in the last 12 months. In its release, the Bank noted that the housing market seemed to be stabilizing, and would be able to weather the hike. Some economists agreed with the sentiment, while others argued that there is still … Read More

Vancouver’s one-two punch is expensive homes and low wages (BNN)

Melanie ConsMortgage Talk Canada

Want to pay San Francisco housing prices on a Columbus, Ohio income? Move to Vancouver. While policymakers from Seattle to Boston lament a growing urban affordability crisis, a new study of home prices and earnings across more than 100 major U.S. and Canadian metropolitan areas shows Vancouver in an ignominious class of its own. The median cost of a Vancouver … Read More