Interest rates have no where to go but up, right? Maybe, but maybe not. Bank of Canada governor Mark Carney signalled last Tuesday that he’s still looking to raise the cost of borrowing “over time,” however, it appears to be an empty threat. The overnight rate has remained unchanged for months as Canadian home hunters continue to take advantage of … Read More
Explaining Foreclosures in Canada
Found yourself in a financially tough spot? Having trouble making your monthly mortgage payments? Be careful – foreclosure could be around the corner. While it is generally in the interested of both the bank and you, the borrower, to avoid foreclosure proceedings, sometimes there is no other option. A number of things happen when a homeowner defaults on their mortgage. … Read More
Canadians More Cautious About Household Debt?
The Bank of Canada has been repeating warnings about dangerous household debt levels for months, however data released on Tuesday shows that people might finally be starting to get the message. The central bank noted that consumer spending has been “moderate” as of late, suggesting that Canada’s craving for credit could be beginning to subside. The Bank of Canada’s third-quarter … Read More
Should You Invest in Real Estate?
Does the thought of investing in real estate appeal to you? Well, now could be the perfect time to take the leap into the rental investment arena. The continued strength of the nation’s real estate market, along with the expectation that interest rates will remain low, should provide plenty of appeal for investors looking to ramp up their real estate … Read More
How To Buy A House When You Have Bad Credit
According to recent reports, more than one in eight adult Canadians are expected to declare bankruptcy or negotiate a debt settlement with creditors. And yet, Canada’s homeownership numbers are currently at a record high. This just goes to show you that devastated credit doesn’t have to leave you high and dry when it comes to entering the housing market. Granted, … Read More