Home Prices Rise for Second Consecutive Month: Teranet

familylendingFirst Time Home Owner, Housing Costs, Investment Property

  According to the latest numbers the correction of housing prices late in 2010 seems to have been a short-lived phenomenon, as for the second consecutive month prices increased overall in four of six Canadian metropolitan markets.  Canadian home prices in January were up 0.4 per cent from the previous month, according to the Teranet–National Bank National Composite House Price … Read More

February 2011 Housing Starts

familylendingFamilyLending.ca

  CMHC annouced today:“The seasonally adjusted annual rate of housing starts was 181,900 units in February, according to Canada Mortgage and Housing Corporation (CMHC). This is up from 170,600 units in January 2011.“Housing starts moved higher in February because of increases in Ontario and the Prairies,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “The bulk of this … Read More

Understanding your Credit Score

familylendingFamilyLending.ca

  We thought it would be helpful to pass along a little information about understanding your credit score and some do’s and don’ts to be aware of. How you handle your credit now can affect your ability to get a mortgage as well as the rate you will receive.     Understanding your credit score 101   Driven by the … Read More

Fixed Rate Mortgage or Variable Rate Mortgage?

familylendingFamilyLending.ca

  Before we answer that question, it’s important to understand the difference between a fixed rate mortgage and a variable rate mortgage. Fixed rate mortgage – A fixed rate mortgage is a mortgage where the rate of interest is fixed for a specific period of time. Generally known as the mortgage term, it usually ranges from between 6 months and … Read More

Beating Your Heating Bill

familylendingFamilyLending.ca

  Wouldn’t it be nice if your home came without heating bills attached? Unfortunately it does not but… fortunately, there are tips out there that can help you lower your monthly costs dramatically.Domestic wizards over the years have come up with lots of money saving home remedies and quick fixes to help you lower your home heating bills.  From washing … Read More