Will Flaherty Actually Change the Rules Again?
Just for Halloween, we decided to talk about something very scaaarry – the possibility of Finance Minister Jim Flaherty changing the housing and mortgage rules once again. People still haven’t stopped talking about last July, when he changed the mortgage rules for the fourth time in just as many years. One thing was different about those…
Read moreHow the CMHC Improvements Mortgage can Help You
Have you been putting off buying a home because it needs too many home renovations and you don’t want to put extra money in after already paying the purchase price? If that’s the case, then CMHC – yes, the same organization that will insure your mortgage if you don’t have the 20 per cent down…
Read moreA Different Kind of Default
We thought we had heard the last of the problems caused by the mortgage rules that were instated last year. But for some condo buyers, the problems are just starting. Those problems come in the form of pre-approvals, some of which were obtained as long ago as 2009, and how borrowers can no longer afford…
Read moreWhen Mortgage Rates Go Up, they Often Come Down
When mortgage rates were on the rise in August and September, they had home buyers and those looking to renew their mortgage in a panic. Rates rose significantly and pretty quickly, and had experts and analysts claiming that the predicted doom was here and that it would send our housing market into a tailspin. However,…
Read moreMortgage Insurer + Habitat for Humanity = Match Made at Home
Just yesterday we talked about mortgage insurance, mortgage insurers, and the bad name they can sometimes get. Yes this insurance can add up to exorbitant fees and costs, and the Crown corporation has been limiting the amount it will allow banks to hand down to their consumers. But one mortgage insurer in Canada – Genworth…
Read moreWhich Bank has the Most Insured Mortgages?
CIBC is the nation’s biggest bank by assets, and recently the head of the bank’s retail banking operation, David Williamson, says that he’s very comfortable with their business mix. One reason for that is because they hold the largest amount of insured mortgages in the market. The question is, is that a good thing? “In…
Read moreDo Young People have Problems with Credit Unions?
The name change of a credit union on the west coast has brought to light one important question – do young people mistrust credit unions more than they do actual banks? The credit union is (or was) North Shore Credit Union, which will now be known as BlueShore Financial. One reason why the credit union has…
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