Alternative Down Payment Funding Sources

EditorGeneral Interest, Mortgage Down Payment, Mortgage News, Mortgage Types, Real Estate Advice, Residential Mortgages

The theme for 2012 mortgage rules was pretty obvious: crack down on homebuyers who were looking to purchase a home with little money down. Changes barring cash-back mortgages by the Canada Mortgage and Housing Corp. made it clear that regulators wanted to dissuade cash-poor consumers from taking on more debt. Yet, even despite these changes, first time homebuyers can still … Read More

A Closer Look At Your Neighbourhood’s Housing Market

EditorFamilyLending.ca, Financial Tips, General Interest, Mortgage News, Mortgage Talk Canada, Mortgage Term, Real Estate Advice, Residential Mortgages

The elusive soft landing has finally hit ground in Canada, as the latest reports from the Real Estate Association show a decrease in year-over-year sales. The real estate group found that sales were down 0.1% in October from September. Actual sales for October (without the seasonal adjustment) were down 0.8% from a year ago. While not unexpected (a housing slowdown … Read More

How To Buy A House When You Have Bad Credit

EditorAbout Mortgage Brokers, Credit Rating, FamilyLending.ca, Financial Tips, First Time Home Owner, General Interest, Mortgage Down Payment, Mortgage Insurance, Mortgage News, Mortgage Term, Mortgage Types

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

Consumer Debt Impacts IMF’s Outlook for Canada

EditorAbout Mortgage Brokers, FamilyLending.ca, Financial Tips, Mortgage News, Real Estate Advice, Residential Mortgages

Canada’s economic outlook took a big hit this morning as the International Monetary Fund downgraded the nation’s financial outlook. Inflated consumer debt levels and a shaky housing market were at the heart of the downgrade, which was announced in Tokyo this morning at the IMF-World Bank annual meeting. The Washington-based global lender’s quarterly World Economic Outlook downgraded Canada’s economic advance … Read More

Housing Market Cooling Across Canada

EditorFamilyLending.ca, Financial Tips, General Interest, Mortgage News, Mortgage Term, Mortgage Types

The Canadian housing market has begun to correct itself, or at least that’s what the numbers show. A combination of market fatigue, stricter mortgage rules and a decrease in property affordability are believed to be contributing to the long anticipated correction. Home sales fell 5.8 percent in August from July. Sales are down 8.9 percent year over year. With that … Read More