8 Things to Be Aware of When Buying a Second Home

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You can afford a second home, let us show you how! Now that low interest Canadian mortgage rates are readily available, it seems like the perfect time to invest in a second home. Here’s what you should know before purchasing a second property. Things to Learn Before Buying a Second Home 1) Do your research. You will need to resist … Read More

What You Need to Know About the New NHA MBS Policies

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Last Friday, the Canada Mortgage and Housing Corporation issued a statement announcing another round of mortgage restrictions, this time concerning limits on new National Housing Act Mortgage-Backed Securities (NHA MBS). The statement, which was sent to banks, credit unions, and other mortgage lenders, outlined new restrictions that would limit lenders to a maximum of $350-million new guarantees, the amount of … Read More

Ottawa’s Mortgage Rules: One Year Later

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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. 

Housing and the Big, Bad Budget

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A lot has been said about Thursday’s budget announcement. From Flaherty’s shoe selection to a vague job-training program, many Canadian’s were left slightly confused following the much-anticipated announcement. With that being said, Flaherty’s eighth (and potentially final) budget announcement could have been worse, especially for the mortgage industry. Thursday’s budget included a tightening of controls on mortgage lending once again, … Read More

Housing Slow Down Has Started

EditorFamilyLending.ca, Financial Tips, First Time Home Owner, General Interest, Housing Costs, Mortgage News, Real Estate Advice, Residential Mortgages

The future of Canada’s housing market rests in the hands of the nation’s buyers, or at least that’s what the latest housing stats would have us believe. Signs are everywhere that Canada’s once red-hot real estate market is about to freeze over, thanks to a combination of tighter mortgage rules and increasing consumer debt levels. Not only are home sales … Read More