Thinking of Buying U.S.? Consider it Carefully!
Earlier this week we wrote a post about how buying foreign – both in Europe and the United States – was becoming increasingly popular for Canadians. But new stats from the S&P Case-Shiller 20-city home price index have shown that Canadians who want to own property in the States need to be very careful when…
Read moreReady for a Home? Here are 3 Determining Factors
Buying a home is a big decision. And taking on a mortgage is going to be the biggest responsibility you take on in your lifetime. So are you ready for it? It’s the question that homebuyers ask themselves before they actually start searching the market. And now the question is, are you ready? Here are…
Read moreThe Five Best American Real Estate Markets
Toronto and Ottawa mortgages are typically our focus on this blog. But with real estate prices rising in both cities, and with rock-bottom prices still being seen in the States those who want to take out a second mortgage to buy a vacation property, and investors, can’t help but turn their eyes south. It can…
Read moreA New Service Could Save Investors and Homebuyers Money
Whether you’re buying your first home or purchasing investment property, you always need to know the condition of the property and its history, right? Of course, and now there’s a service that makes obtaining that information even easier for homebuyers and investors alike; and it’s called Morin’s HomeProf Report. Morin’s HomeProf Report pulls from an…
Read moreClosing Costs, Part 3: Who Pays for What?
In the first part of our mini-series looking at closing costs, we talked about just how important they are, and just how expensive they can be. If you’ve been following, you’re probably a little worried about them yourself now, and are ready to jump at the chance to have someone else pay them. Well, it’s true. It’s very common for sellers to pay the closing costs, and some lenders will even pitch in when it comes time to get a mortgage, and to start talking about closing costs with your mortgage broker. In part 3 of our mini-series, we’ll look at just who you can expect to pay what closing costs, as well as how that process works.
Read moreClosing Costs, Part 2: The Cost of Closing
In Part I of our closing cost mini-series, Recurring and Non-Recurring Costs, we looked at the two main types of closing costs – recurring, and non-recurring. We also talked about how important it is to seriously consider closing costs when talking to your mortgage broker or when looking at homes. They’re important of course, because it can add up to a lot of money, and you need to know that before you sign any papers. But just how much money does it all add up to? That’s what we’ll look at here, in Part 2 of the mini-series. Here we’ll break down all the different costs you could face, as well as their approximate dollar amount.
Read moreNHA MBS Levels are Dropping – What does that mean?
To really understand what it means when NHA MBS levels fall, you first need to know what the NHA is, and what its MBS are. And even though it might all sound like too much, it’s really very simple, and a concept that most of us are already familiar with. The NHA is the National Housing Act, an act implemented in 1983 and that is now regulated by the CMHC – the Canada Mortgage and Housing Corporation. The NHA’s MBS are mortgage-backed securities. In other words, these are the mortgages insured by the CMHC. And these insured mortgages have recently made news as the number of them dwindles. But what does that really mean?
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