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
How To Save For Your Down Payment
According to a recent TD Canada Trust survey, nearly 60 percent of Canadians were disappointed in the size of their down payment. These findings aren’t all that surprising; in a world of record-setting consumer debt, slim savings and lacklustre investment returns, saving for a sizeable deposit can seem like an exercise in futility. And yet, the bigger your down payment, the less … Read More
Ten Tips for Aspiring Homeowners
Thinking of buying while interest rates are still low? Follow these tips to ensure that your finances are ready for a long-term investment.
Buyers Showing Caution, Bank Keeps Rates Low
The Bank of Canada held its ground today, leaving the overnight lending rate unchanged at 1 percent. While the move was expected (the rate has been locked at this near-historic rate since September of 2010), the tone of the announcement was far less confident than previous press conferences. The Bank’s release explained how a global economic slowdown is impacting Canada’s … Read More
Tick Tock – Mortgage Changes Come Into Effect July 9
Three months ago, Finance Minister Jim Flaherty told banks to step up and firm up their lending requirements. When that didn’t work, he took matters into his own hands, releasing a laundry list of mortgage rules last week. The roughly eight major rules released by the DoF and the OSFI last week will likely influence the Canadian real estate market … Read More