How to score the best mortgage and wipe out that debt CBC.ca – Jul 1, 2016 Will you lie awake at night knowing yourmortgage rate could rise if suddenly theCanadian economy starts to improve and the Bank of Canada hikes lending rates? And that’s the key with scoring the right mortgage. Customers need to shop around for […]
Canadians are rich – Real estate: The pricier, the better
GTA luxury home sales up 34 per cent in 2014 Brutal winter has helped buoy demand for low-maintenance, high-end condos The biggest jump, surprisingly enough, was in the sale of $1 million-plus condos which skyrocketed by 53 per cent to the end of June over the same period of 2013 — gains beyond those seen […]
Canada Real Estate Is Still Very Rosy
Canadians richer than ever, and cutting back on mortgage debt Debt growth eases Canadians are getting the message on their ugly debt levels, at the same time as their wealth increases. Mortgage debt growth slowed: Statistics Canada Mortgage debt in Canada rose just 0.6 per cent in the first quarter of the year, to $1.1-trillion, […]
CMHC to stop insuring mortgages on million-dollar homes
Canada Mortgage and Housing Corp. says it will no longer offer mortgage insurance for homes that cost $1 million or more, starting July 31, even if the buyer has made a deposit of 20 per cent or more. Image Source Million-dollar home in Vancouver Image Source CMHC no longer offering mortgage insurance for luxury homes […]
Uncle Jim may ask CMHC to dig more money out of your pocket
Mortgage insurer CMHC primes market for announcement Canada Mortgage and Housing Corp., the Crown corporation that Finance Minister Jim Flaherty has been seeking to rein in, says it will be making an announcement later this week. Image Source The mortgage insurer, which appointed former investment banker Evan Siddall as its new chief executive officer at […]
Low mortage rate revives fears of hard reckoning for Canada’s housing market
Low-rate pledge revives fears of hard reckoning for Canada’s housing market The federal government has tightened mortgage lending rules four times in the past five years in a bid to cool the market and prevent home buyers from taking on too much debt. Bank of Canada pessimism The lower economic outlook and stubbornly low inflation mean the Bank of Canada is likely to […]