Outlook Shaky As Consumer Debt Expected to Rise

EditorAgricultural Mortgages, Commercial Mortgages, Credit Rating, General Interest, Household Budget, Housing Costs, Mortgage News

While the Canadian economy appears to be weathering the economic storm with surprising ease, Canadian consumers are beginning to show signs of distress. Just last week, Statistics Canada announced a net worth drop of $4,600 per household in the third quarter. Meanwhile, Canadians continue to borrow and buy on credit. Household debt per capita is up by $600 from the … Read More

Re/Max Report Predicts Robust 2012 Canadian Housing Market

EditorAgricultural Mortgages, Commercial Mortgages, FamilyLending.ca, First Time Home Owner, General Interest, Housing Costs, Investment Property, Mortgage News, Real Estate Advice, Residential Mortgages

The Canadian housing market showed exceptional resilience in 2011, according to Re/Max’s annual housing marketing outlook. Published early last week, the report states that an estimated 460,000 homes are expected to be sold this year, a significant increase over last year’s 44,010 properties. Re/Max credits low interest rates for the housing market’s success, along with tight inventory levels and increased … Read More

No Rate Change from the Bank of Canada

familylendingAgricultural Mortgages, Commercial Mortgages, Financial Tips, General Interest, Housing Costs, Mortgage News, Real Estate Advice

The Bank of Canada has opted to freeze rates for the 11th consecutive time, maintaining the 1.0% interest rate this morning. The stay is consistent with Governor Mark Carney’s statements from October that forecasted no changes for the foreseeable future. The current Chairman of the Financial Stability Board insists that the Bank will remain flexible, in light of world and … Read More

How to Make Wealth-Building Real Estate Decisions

familylendingAbout Mortgage Brokers, Credit Rating, Financial Tips, First Time Home Owner, General Interest, Housing Costs, Investment Property, Real Estate Advice

It’s a sad but stark reality: when buying real estate, far too many Canadians fail to take the basic precautions or perform standard due diligence prior to submitting an offer. Instead of running the numbers, comparing mortgage rates, and consulting with a professional mortgage broker, home hunters are simply throwing caution to the wind and diving into the housing market … Read More