Who Goes on an Ontario Mortgage if You Are Common-Law?
You’re in love, and want to buy a home together! Fantastic! Buying a home together is a wonderful thing and typically, not so complicated – for those that are already married. But what if you’re not married, but are considered common-law? In Ontario, you are considered common-law partners if you have lived together with someone…
Read moreWhat are the New OSFI Rules?
We’ve talked about the new OSFI rules before, both when they were first proposed and then again when they were instated as the new rules federally-regulated banks had to follow. But, that was way back in July when they were first announced. These rules went into effect on November 1, 2012 – Thursday of this…
Read moreDo Sub-Prime Mortgages Really Make Up Half of the Market?
Just over a week ago the National Post ran a very interesting, and very thorough, article taking a look at the housing bubble in Canada. Within the article were some startling, and alarming, facts. One of them was that Canada’s sub-prime mortgage market now currently makes up 50% of the Canadian mortgage market. But is…
Read moreFlawed Data May be Skewing Housing Data
As if our housing prices weren’t increasing enough on their own. Now a disturbing article from The Globe and Mail suggests that Canada’s housing prices may be being skewed by a flawed automated system. And if that’s true, everyone’s got something to lose – homebuyers, homeowners, and lenders. The problem all goes back to an…
Read moreThe Hardships of Being a Single Homebuyer in Winnipeg
It’s never easy being on your own and looking for a home. No matter the price range or the area you’re looking in, there’s one fact you won’t be able to escape – you’ll still be responsible for that mortgage payment all on your own. This is going to be a bigger challenge for any…
Read moreNew Brunswick Mortgage Broker gets Three Years for Fraud
This is one of those stories that you don’t hear a lot about, simply because it doesn’t happen too often. A former mortgage broker in New Brunswick has been charged with forging documents and is now serving a three-year sentence after pleading guilty in court late last week. The case showcases how sometimes, it’s not…
Read moreIs CMHC to Blame for the Housing Market Problem in Canada?
We’re not saying there’s currently a major problem with the housing market in Canada. We are saying that over the past couple of years, it’s become extremely overheated with just about every Canadian taking the leap (or at least desperately wanting to,) into the home ownership pool. And while there are probably a few factors…
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