First-Time Home Buyers On The Finances
January 31st, 2017
How long do you need to save up for a down payment? How long does it take to get approved for a mortgage? Buying a home—especially for the first time—is … [read more]
January 31st, 2017
How long do you need to save up for a down payment? How long does it take to get approved for a mortgage? Buying a home—especially for the first time—is … [read more]
January 26th, 2017
Canada Mortgage and Housing Corporation (CMHC) announced last week that it would raise homeowner mortgage loan insurance premiums effective March 17, charging borrowers “a few dollars more” every month. The … [read more]
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January 12th, 2017
You have saved up enough money for a down payment, and now you’re ready to get your first mortgage. However, there are a few things you should know before you … [read more]
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December 20th, 2016
What impact will the recent mortgage rule changes have? And what about the potentially volatile Trump effect? “The change in qualification rules for homebuyers means that the posted 5-year rate … [read more]
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December 16th, 2016
Acquiring a mortgage is undoubtedly one of the biggest financial decisions you’ll ever have to make in your lifetime, therefore finding the home loan that fits your needs should be … [read more]
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December 14th, 2016
Applying for a mortgage will most likely be one of the biggest financial decisions you ever make. That means it will be prudent to spend quite a bit of time … [read more]
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December 9th, 2016
The average price of a home across the country continued to climb in 2016 but any savings Canadians are getting from mortgage rates are getting smaller, according to a new … [read more]
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December 7th, 2016
If you are preparing to buy your first home, you may be mixed with feelings of excitement and stress. You may have grand dreams of finally living in your own … [read more]
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November 29th, 2016
In a new survey, Manulife Bank of Canada found that over 16% of Canadians will not be able to service existing debts if their current mortgage payments increase in any … [read more]
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November 25th, 2016
Another survey by a Canadian bank finds that some Canadian homeowners are not very secure, financially speaking. About one-quarter said that they had just $1,000 set aside for an emergency, … [read more]
Comments Off on Mortgage Rates Too High? Only If You’re a Millennial
November 23rd, 2016
Canada has one of the highest homeownership rates in the world thanks in part to its low minimum down payment requirements, but Evan Siddall, president and CEO of Canada Mortgage … [read more]
Comments Off on Canada’s Low Down Payments are Harming First-time Buyers
November 2nd, 2016
Getting a mortgage can be a costly endeavor from the onset. You’ve got to worry about getting together a down payment, securing an affordable interest rate and covering closing costs, … [read more]
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November 1st, 2016
Most people will need a mortgage to buy a home. That means that not only do you need to shop for a home, you need to shop for a home … [read more]
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October 21st, 2016
How will the new mortgage rules impact various markets? One veteran, who has been on the front lines for various market ups and downs, weighs in. “Could (the recent mortgage … [read more]
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October 19th, 2016
You’ve spent hours and hours looking at potential investment houses or even for your primary residence. You’ve found the perfect property and had your offer accepted. Submitting the required paperwork … [read more]
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October 12th, 2016
Mortgage Broker Licensed Brokers, usually commission based, work as middlemen between mortgage lenders and borrowers. These brokers do not work for any particular lender; however, they have developed connections with … [read more]
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October 11th, 2016
Will mortgage and tax rule changes that Canada’s Finance Minister Minister Bill Morneau announced this week do anything to cool the Canadian housing market? One economic analysis firm says the … [read more]
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October 11th, 2016
There are now fewer options for rental properties. In the wake of new mortgage rules, some mortgage lenders are pulling mortgage programs for rentals. One of the first was Merix/Lendwise, … [read more]
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October 7th, 2016
Canada’s finance department projects home sales could fall as much as 8 per cent in the first year after new housing regulations are implemented, before rebounding, based on an analysis … [read more]
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September 27th, 2016
Residential mortgage insurance premiums are likely to increase for homes in hot real estate markets as a result of beefed-up capital requirements for Canada’s mortgage insurers coming into force next … [read more]
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September 8th, 2016
Banks are eager to lend a hand to first-time homebuyers, but that doesn’t mean you should borrow as much as they’ll loan you. Why? It’s all about the cash flow. … [read more]
Comments Off on Don’t Prey to Temptation of Low Down-Payment Mortgage
September 7th, 2016
The Bank of Canada held the target for the overnight rate at ½% Wednesday. Canada’s economy shrank in Q2, according to the BoC; however it’s still predicting a bounce back … [read more]
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